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Mitchell D. Roth Mayor %L110UUfV of ('71afuail Lee E. Lord Managing Director Robert H. Command Deputy Managing Director (Offirr of f4rffinVor 25 Aupuni Street, Suite 2603 * Hilo, Hawai'i 96720 a (808) 961-8211 - Fax (808) 961-6553 KONA: 74-5044 Ane Keohok5lole Hwy., Bldg C * Kailua-Kona, Hawai'i 96740 (808) 323-4444 - Fax (808) 323-4440 September 29, 2023 Heather Kimball, Council Chair and Members of the Hawai'i County Council Hawai'i County Council 25 Aupum Street Hilo, Hawai'i 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 $187,000,000 in general obligation bonds for the County of Hawai'i 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 Kealakehe Regional Park Phase 1, Hilo Skate Park, Laupdhoehoe Boat Ramp, various housing projects, relocating West Hawaii Automotive, repairs and maintenance of our facilities, as well as several drainage and bridge projects. 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 $187,000,000, our debt service percentage that includes all authorized but unissued bonds will be approximately 14.0% based on the fiscal year 2024 budget. Our debt service percentage based on issued debt is 7.1 %. 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 4V it qq� Comm. No. 1��i Ref. To: Ref. Date County of Hawai'i is an Equal Opportunity Provider and Employer.