REPORT TO COUNCIL AND SUNNYVALE FINANCING AUTHORITY
SUBJECT
Title
Adopt Resolutions to Authorize Issuance of Solid Waste Revenue Bonds to Finance SMaRT Station(r) Improvements and Equipment in an Amount Not to Exceed $50 Million, Including Financing and Closing Costs; Approve Financing Team, and Authorize the City Manager/Executive Director or the Finance Director/Treasurer to Execute all Related Documents
Report
REPORT IN BRIEF
Staff is recommending the City Council and the Sunnyvale Financing Authority (the "Authority") to authorize the issuance of bonds to finance a portion of the costs of the SMaRT Station NextGen Project (the "Project"), approve the financing team that implements the issuance of the Bonds, and Authorize the City Manager/Executive Director or the Finance Director/Treasurer to execute all related documents.
BACKGROUND
The City of Sunnyvale ("City") is responsible for the ownership, operation, and improvement of the SMaRT Station, the City-owned waste transfer and processing facility that handles a diverse array of incoming material streams, including garbage, source-separated curbside and commercial recyclable materials, yard trimmings, food scraps, and construction and demolition debris.
The City has entered into a memorandum of understanding with the City of Mountain View ("Mountain View"), dated December 22, 2021 ("MOU"), for the use and management of the SMaRT Station. The MOU is scheduled to expire on December 31, 2036. The City also entered into a merchant agreement with the City of Cupertino on August 12, 2025, under which Cupertino would begin sending its garbage to the SMaRT Station after the planned improvements are completed. This agreement was executed on October 15, 2025.
The City has determined that it is necessary to install materials recovery facility equipment at, and make improvements to, the SMaRT Station ("NextGen Project"), including the design, fabrication, and installation of an integrated waste processing equipmen...
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