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COUNTY OF HAWAFI <br />BILL NO. 43 <br />I <br />AN ORDINANCE AMENDING ORDINANCE NO. 23-40, WHICH AMENDED ORDINANCE <br />NO. 22-125, WHICH AUTHORIZED THE MAYOR TO ENTER INTO AN <br />INTERGOVERNMENTAL AGREEMENT FOR A STATE WATER POLLUTION CONTROL <br />REVOLVING FUND LOAN FOR WASTEWATER PUBLIC IMPROVEMENT PROJECTS <br />AND AUTHORIZED THE ISSUANCE OF $17,000,000 GENERAL OBLIGATION BONDS <br />FOR THE PURPOSE OF FINANCING QUALIFIED WASTEWATER PUBLIC <br />IMPROVEMENTS OF THE COUNTY OF HAWAII. <br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI`I: <br />SECTION 1. The title of Ordinance No. 23-40 is hereby amended to read as follows: <br />"AN ORDINANCE AUTHORIZING THE MAYOR OF THE COUNTY <br />OF HAWAI`I TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT FOR A <br />STATE WATER POLLUTION CONTROL REVOLVING FUND LOAN FOR <br />WASTEWATER PUBLIC IMPROVEMENT PROJECTS; AND AUTHORIZING THE <br />ISSUANCE OF [$17:,000,000] $52,000,000 GENERAL OBLIGATION BONDS OF <br />THE COUNTY OF HAWAN FOR THE PURPOSE OF FINANCING QUALIFIED <br />WASTEWATER PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAI`I' <br />SECTION 2. Section 1 of Ordinance No. 23-40 is hereby amended to read as follows: <br />"SECTION 1. Request for Loan. The County of Hawaii, pursuant to Section <br />342D-54, Hawai`i 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 Draft it Exhibit A, Draft 3". <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 [ ], $52,000,000 at a fixed rate of interest which shall <br />not exceed the Bond Buyer's 20-year general obligation bond issue." <br />SECTION 3. Section 2 of Ordinance No. 23-40 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 n draft 2] <br />Exhibit A, Draft 3." <br />