6731-92 Co-op for Old Newspapers

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LETTER OF INTENT This letter is to set forth our understanding regarding your political subdivision's ("Political Subdivision") participation in the Cuyahoga County Solid Waste District's ("District") Newspaper Marketing Cooperative ("NMC"). I. The District and participating Political Subdivisions desire to determine the feasibility of a recycling cooperative for the marketing of newspaper ("Newspaper"). To do so, the District and participating Political Subdivisions will proceed in the fol- lowing manner: A. Feasibility Phase The District and each of the participating Political Subdivi- sions will jointly determine whether the NMC is feasible as foll6ws: The District will determine what major capital expendi- tures are necessary and what debt would have to be in- curred in order to finance same. The District will determine what the. projected expenses of operation of the NMC would be. o The District will determine what commitments can be ob- tained for sale or other disposal of the Newspaper. The District will advise the Political Subdivisions what the projected net cost or net revenue to them will be of participating in the A/MC. The District will itemize for the Political Subdivisions: a. the projected expenses.of NMC operation. bo Ce any projected payments on borrowing to acquire nec- essary facilities for the NMC. any projected reserves. d. overhead. e. the projected NMC revenue. It will also advise what will be the minimum period for participation in the NMC. After receipt of the projected financial information from the District, each Political Subdivision, will determine, based on its own projected costs of disposal of Newspa- per, whether to further participate in the NMC.