Laserfiche WebLink
MtY of N,°•. <br /> °•i' •''h+' Lee E.Lord <br /> �,�,'I�• Managing Director <br /> I <br /> Mitchell D.Roth *c � l�; ��:* <br /> Mayor - <br /> ,o_" _� Robert H.Command <br /> •.; 5tov `• Den Managing Director <br /> • .44;75 <br /> - # Deputy g g <br /> .auxtf r iif c atuai i <br /> ®fftrr of#lE Atutir <br /> 25 Aupuni Street,Suite 2603 • Hilo,Hawaii 96720 • (808)961-8211 • Fax(808)961-6553 <br /> KONA: 74-5044 Ane Keohokalole Hwy.,Bldg C • Kailua-Kona,Hawaii 96740 <br /> (808)323-4444 • Fax(808)323-4440 <br /> June 17, 2021 <br /> Maile Medeiros David, Council Chair and :, <br /> Members of the Hawai`i County Council <br /> Hawai`i County Council <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 <br /> May 6, 2021 <br /> Re: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds <br /> Attached for your consideration is a bill authorizing the issuance of up to $25,500,000 in general <br /> obligation bonds for the County of Hawaii for capital improvement projects, which includes <br /> cost of issuance of the bonds. <br /> These bonds would be issued for the Department of Parks and Recreation's Americans with <br /> Disabilities Act (ADA) projects as required by the modified transition plan approved by the U.S. <br /> District Court (1:97-CV-01102-RT). There are ten projects remaining to be completed under the <br /> agreement. The projects must be completed by 2022. Because the Department of Parks and <br /> Recreation will be implementing and investing in the architectural barrier removal scope, it is <br /> prudent to address required repair and modification work at the same time to minimize disruption <br /> to programs and operations and for cost effective efforts in design, construction, permitting and <br /> project management. The ADA portion of the work is approximately $18,750,000 and the non- <br /> ADA work is approximately $6,250,000. <br /> Our County's debt service capacity has been reviewed to ensure we have the capacity to issue <br /> additional bonds up to the requested amount. With this authorization of$25,500,000, our debt <br /> service percentage will be approximately 13.1%. This percentage is within our GFOA guideline <br /> that debt service expenditures should be below 15% of total expenditures each year. <br /> The next meeting with the Court/Judge regarding the modified transition plan will be in August <br /> of 2021. We request that this bill be waived from the Finance Committee and be placed on the <br /> July 7, 2021 Council agenda due to the time sensitive nature of this matter. If there are any <br /> questions, please do not hesitate to call Deanna Sako at 961-8234. <br /> Mitchell D. Roth <br /> Mayor <br /> Comm. No.g <br /> Attachment Ref. To: ckunul Wm) <br /> ‘` '`%) County of Hawai`i is an Equal Opportunity Provider and Employer. Ref. Date JUN 2 2 2021 <br />