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3 OJ�+tYo®F kik" I Lee E.Lord V�tilib�j Managing Director Mitchell D.Roth •' i i Mayor Robert H.Command e+•o`:`a o�•�0 Depttty Managing Director CIU14V dpaival"Ti3 E (Offirr fora 25 Aupuni Street,Suite 2603 • Hilo,Hawaii 96720 • (808)961-8211 Fax(808)961-6553 KONA: 74-5044 Ane Keohokalole Hwy.,Bldg C • Kailua-Kona, Hawaii 96740 (808)323-4444 Fax(808)323-4440 January 20, 2023 Heather Kimball, Council Chair and - Members of the Hawai`i County Council Hawai`i County Council 25 Aupuni Street Hilo, Hawaii 96720 Re: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds Attached for your consideration is a bill authorizing the issuance of up to $127,500,000 in general obligation bonds for the County of Hawaii for capital improvement projects, which includes cost of issuance of the bonds. These bonds would be issued for the Department of Environmental Management's wastewater projects, including the construction costs for the Hilo Wastewater Treatment Plant. In addition, funding would be used for repairs and maintenance for our Parks & Recreation and other County facilities, such as the reroofing of Aupuni Center. Our County's debt service capacity has been reviewed to ensure we have the capacity to issue additional bonds up to the requested amount. With this authorization of$127,500,000, our debt service percentage that includes all authorized but unissued bonds will be approximately 13.5% based on the fiscal year 2023 budget. Our debt service percentage based on issued debt is 7.6%. This percentage is within our GFOA guideline that debt service expenditures should be below 15% of total expenditures each year. If there are any questions, please do not hesitate to call Deanna Sako at 961-8234. Mitchell D. Roth Mayor Attachment Comm. No. Ref.T :_ Ref. at ; -5202:3 County of Hawaii is an Equal Opportunity Provider and Employer.