Oneida-Herkimer Solid Waste Management Authority

Notes to Financial Statements

December 31, 2022 and 2021

Note 4 - Capital Asset, Net - Continued

Construction in progress principally relates to costs incurred to construct cells at the Authority’s RLF, which remains in progress.

Note 5 - Revenue Bonds

A summary of changes in the Authority’s revenue bonds is as follows:

Revenue bonds of the Authority are summarized as follows:

2011 Revenue Bonds

The 2011 revenue bonds were originally issued at $10,725,000 to finance the design, acquisition, and installation of a single-stream recyclables processing system. Bond proceeds were also used to fund the debt service reserve fund and to fund costs incurred in connection with the issuance. Interest was payable semi-annually at interest rates ranging from 4% to 5%. Principal was fully repaid in April 2021.