Many municipal governments are beginning to develop plans for meeting the new Illinois law requiring cities and counties with more than 100, 000 people to recycle 15 percent of their garbage by 1996. In addition, this year's deadline banning grass clippings, leaves, and branches from landfills rudely awakened cities to how expensive solid waste management can be.

Municipalities may need to purchase special compartmentalized trucks, balers, pet granulators, a materials recovery facility and more. Add to equipment costs the expense of implementing pilot programs, and local governments are strapped. But there is an answer to this financial crunch.

Through its Municipal Lease program, the Illinois Development Finance Authority (IDFA) can help municipalities avoid high borrowing costs by offering low- cost, tax-exempt installment purchase financing for capital equipment and real estate purchases.

By raising needed capital for solid waste management plans through IDFA's program, municipalities will benefit from low7, tax-exempt rates, low transaction costs, a simplified borrowing process, a quick turnaround time and no tax levy requirement on leases with terms of ten years or less.

The city of Alton is already gearing up with IDFA's assistance. The Authority has agreed to lease finance three new refuse collection vehicles for up to $130, 000.

Along with solid waste management, IDFA can finance such projects as energy conservation equipment, water towers, and town halls. The city of Maywood received $650, 000 for the purchase and installation of a 500, 000 gallon elevated water tank and related pumping gear. Williamson County Rural Fire Protection District will have four new fire houses and related equipment financed for up to $500, 000.

The issue of solid waste management no longer resides in the domain of a minority special interest group, it concerns the people in Illinois. Whether municipalities are meeting state standards or introducing new7 policies for handling solid-waste, IDFA is an important and invaluable financial option to explore.

Created by the General Assembly in 1983, the Illinois Development Finance Authority (IDFA) has played a major role in stimulating Illinois' economy by funding major municipal infrastructure projects. To receive more information, contact the Illinois Development Finance Authority in Chicago at 312/793-5586 and in Marion at 618/997-6318. •

Page 18 / Illinois Municipal Review / February 1991