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Heather Kimball, HSAC President and Members of the Executive Committee RE: Kauai County Report for the September 20, 2024 HSAC Executive Committee Meeting September 12, 2024 Page 2 Bill No. 2926 — A BILL FOR AN ORDINANCE AMENDING CHAPTER 12, KAUA`I COUNTY CODE 1987, AS AMENDED, RELATING TO THE BUILDING CODE o This Bill proposes to: (1) Repeal (pages 1-97) the existing Chapter 12, Kauai County Code 1987, as amended (Building Code) and formally adopt (pages 98-262) (along with "local amendments") the updated: (a) International Building Code, 2018 Edition, (b) International Residential Code for One- and Two -Family Dwellings, 2018 Edition, (c) International Existing Building Code, 2018 Edition, and (d) International Energy Conservation Code, 2018 Edition; and (2) Relocate administrative -type provisions to a separate and designated section of the Building Code that would apply generally to any construction -related reference to Chapter 12, Kauai County Code 1987, as amended, and supersede and survive any County adoption deadlines relating to various code effective dates pursuant to action of the State Building Code Council. o This Bill was deferred to the October 2, 2024 at the Public Works & Veterans Services Committee Meeting on September 4, 2024. Bill No. 2927 — A BILL FOR AN ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS OF THE COUNTY OF KAUA`I FOR THE PURPOSE OF REFUNDING CERTAIN OUTSTANDING GENERAL OBLIGATION BONDS; FIXING OR AUTHORIZING THE FIXING OF THE FORM, DENOMINATIONS, AND CERTAIN OTHER DETAILS OF SUCH REFUNDING BONDS AND PROVIDING FOR THE SALE OF SUCH BONDS TO THE PUBLIC; PROVIDING FOR THE RETIREMENT OF THE BONDS TO BE REFUNDED; AND AUTHORIZING THE TAKING OF OTHER ACTIONS RELATING TO THE ISSUANCE AND SALE OF THE REFUNDING BONDS AND THE RETIREMENT OF THE BONDS TO BE REFUNDED o This Bill proposes to authorize the issuance, sale, and delivery of general obligation refunding bonds for the purpose of refunding all or a portion of the outstanding Prior Obligations (the County's previously -issued $120,000,000 in aggregate principal amount of its Taxable General Obligation Bonds, Series 2010A) to achieve debt service savings and other benefits for the County in the management of its debt obligations. As a result of federal sequestration, there has been a material adverse change to Section 54AA and Section 140OU-2 of the Internal Revenue Code of 1986, reducing the interest subsidy payments for the Prior Obligations that the County has received, and expects to receive, from the United States Treasury. The proposed refunding would be accomplished through a new issuance of tax-exempt General Obligation Bonds to redeem all or a portion of the outstanding 2010A Bonds. Based on current market conditions, such a refunding would enable the County to achieve debt service savings in comparison to the 2010A Bonds and protect against the potential risk of future increases in federal sequestration. o This Bill was approved on second and final reading at the September 11, 2024 Council Meeting, and sent to the Mayor for his approval.