San Marcos
State bond financing for the controversial San Marcos waste-to-energy plant has been kept alive in Sacramento by the California Pollution Control Financing Authority.
The three-member board voted 2-0 Wednesday, with one abstention, to extend its $185-million financing offer for another year while advocates of the project fight lawsuits and complete studies on the plant’s feasibility.
The authority voted two years ago to provide the bond financing, which is to be repaid from the plant’s proceeds. The bonds were sold and the funds placed in an escrow account, to be released when construction is ready to begin.
Delays caused by opposition to the plant in North County forced the authority a year ago to extend the life of the escrow agreement. That extension expired Monday, and, without further action by the authority, the bonds would have been repaid and the financing for the project rescinded.
Opponents of the plant, including city councilwomen from Encinitas and Carlsbad, argued against the extension Wednesday and vowed afterward to continue their battle to stop the project any way they can.
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