$2,500,000
Capital Projects Finance Authority
Solid Waste Disposal Revenue Bonds
(Capital Projects Loan Program -
Sunbelt Environmental, Inc. Project)
Tax Exempt Series 2001A




On October 16, 2001, the Authority issued its Series 2001A bonds to finance the acquisition, construction, developing and equipping of a solid waste disposal facility (the Facility) located in Santa Rosa County, Florida. The Facility was acquired by Sunbelt Environmental, Inc. (the Company). The Company is an Alabama corporation which operates a number of waste facilities in Alabama and Florida.

The Facility consists of approximately 22 acres, of which approximately 16 acres are currently being used for landfill operations under an existing Permit. The Company estimates that the Facility has a remaining useful life in excess of 40 years, at current volume levels.

The Bonds are limited obligations of the Authority, payable solely from amounts realized by the Trustee under the Letter of Credit, from moneys on deposit in the Bond Fund held by the Trustee under the Indenture, from payments to be made by the Company under the Loan Agreement, and by the Guaranty. The Bonds are not rated.

The Bonds were issued at a fixed rate of interest of 5.0%. Interest is payable semi-annually on May 1 and November 1 of each year. The final maturity of the Bonds is November 1, 2008.