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Mitchell D. Roth Mayor x1fluut .of'Faf al`i Deanna S. Sako Managing Director Robert H. Command Deputy Managing Director OffirP of t4Q flbvar 25 Aupuni Street, Suite 2603 • Hilo, Hawai'i 96720 • (808) 961-8211 • Fax (808) 961-6553 KONA: 74-5044 Ane Keohokalole Hwy., Bldg C • Kailua-Kona, Hawai'i 96740 (808) 323-4444 9 Fax (808) 323-4440 September 19, 2024 Heather Kimball, Council Chair and Members of the Hawaii County Council Hawaii 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 $150,000,000 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 to complete necessary Parks and Recreation ADA projects, planning and design for a County morgue, animal control shelter repairs, Central Fire Station repairs and repairs and maintenance of our facilities. 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 $150,000,000, our debt service percentage that includes all authorized but unissued bonds will be approximately 14.5% based on the fiscal year 2025 budget. Our debt service percentage based on issued debt is 8.0%. 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 Diane Nakagawa at 961-8234. Mitchell D. Roth Mayor Attachment n Comrrd. No, 1R�— �` Ref. To: Ref. gate 92024 County of Hawaii is an Equal Opportunity Provider and Employer.