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1Ji• i <br /> COUNTY OF HAWAII - STATE OF HAWAII <br /> t. <br /> BILL NO. 34 <br /> ORDINANCE NO. <br /> AN ORDINANCE AMENDING ORDINANCE NO. 22-125, WHICH AUTHORIZED THE <br /> MAYOR TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT FOR A STATE <br /> WATER POLLUTION CONTROL REVOLVING FUND LOAN FOR WASTEWATER <br /> PUBLIC IMPROVEMENT PROJECTS AND AUTHORIZED THE ISSUANCE OF <br /> $17,000,000 GENERAL OBLIGATION BONDS FOR THE PURPOSE OF FINANCING <br /> QUALIFIED WASTEWATER PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAII. <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. Section 1 of Ordinance No. 22-125 is hereby amended to read as follows: <br /> "SECTION 1. Request for Loan. The County of Hawaii, pursuant to Section <br /> 342D-54, Hawaii Revised Statutes, will be submitting an application for a State <br /> Water Pollution Control Revolving Fund Loan (SRF Loan) to the Director of the <br /> Department of Health, State of Hawaii, to finance the Wastewater projects listed in <br /> "[Exhibit A] Exhibit A, Draft 2". <br /> Under the terms and conditions anticipated with regard to such SRF loan, <br /> the County shall repay, over a term of twenty years, the principal amount, which <br /> shall not exceed $17,000,000, at a fixed rate of interest which shall not exceed the <br /> Bond Buyer's 20-year general obligation bond issue." <br /> SECTION 2. Section 2 of Ordinance No. 22-125 is hereby amended to read as follows: <br /> "SECTION 2. Authorization of Mayor. The Council hereby authorizes <br /> the Mayor to execute all necessary intergovernmental agreements and <br /> documents between the State of Hawaii and the County of Hawaii, relating <br /> to the SRF to finance the Wastewater projects listed in "[Exhibit A] Exhibit A, <br /> Draft 2." <br /> SECTION 3. Material to be repealed is bracketed and stricken. New material is <br /> underscored. <br /> SECTION 4. The only changes to Ordinance 22-125 are reflected solely in the <br /> separation of the original project into two phases listed in Exhibit A which has been replaced <br /> with a new exhibit labeled as Exhibit A, Draft 2. <br /> SECTION 5. Severability. If any provision of this ordinance, or the application thereof <br /> to any person or circumstance, is held invalid, such invalidity shall not affect other provisions <br />