Judge approves sale of NABORS equipment

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     The sale of personal property owned by the Ozark Mountain Waste District’s NABORS landfill and Rossi Road office locations, which are no longer in operation, has been approved by a Pulaski County circuit court judge.

     According to court records, the bid of $461,000 from a Huntsville businessman was approved Thursday by Circuit Court Judge Tim Fox. The proceeds will go to Bank of the Ozarks, trustee for the bondholders and the Arkansas Department of Environmental Quality, who filed suit against the waste district to recover an over $11 million debt. It is not clear how the proceeds will be used and/or if any will be applied to the outstanding debt.

     At a meeting Thursday of the board members of the waste district, made up of judges and mayor of cities in Baxter, Boone, Carroll, Marion, Newton and Searcy counties who comprise the district, a recommendation by the receivers for debt recovery was heard. The recommendation of an annual assessment of $18 on the nearly 69,000 residential and business structures within the six counties was not well received by the board. Although the members expressed displeasure of the recommendation, they agreed to take no action until more information was available.

     It is anticipated the annual assessment, which is expected to total nearly $1,242,000, would continue until about 2035, when the entire obligation would be repaid.






    

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