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<br /> Sep 02 04 08:21p TYLER 808 3256452 p.2 <br /> SEP-02-2004 THU 0623 PM Co f H Legislative Auditor FAH NO. 808 961 8572 P. 02 <br /> <br /> <br /> <br /> J. CURTIVIVIJSR, III nus: (ROR) 727-3666 <br /> va r7rotr I'as: (80%)326-5697 <br /> Plnnn.t rMmd, A',,,,.J nykrgQinicrpac no <br /> Sri <br /> IIAWAI'1 COUNTY COUNCIL <br /> U <br /> l~ co <br /> C T <br /> r <br /> r~ <br /> September 3, 2004 <br /> -77 <br /> MEMORANDUM 3 <br /> YJ <br /> TO: James Y. Arakaki, hair, s %nJi.11 o mbers <br /> FROM: J. Curtisryler,111 <br /> SUBJECT: 12c9olution Adopt I SDA Form esolution for USDA Rural Utilities Service <br /> GrantiLoan Financing of the Kona CoastviewlKona Wonderview Water <br /> Improvement District No. 18 and Related Matters <br /> A(Utched please find a copy of a resolution with attached exhibits adopting a USDA Rural Utilities <br /> Service "Form Resolution" required for the loan closing actions now underway to complete the <br /> financing of the Kona Coastvicw and Kona Wonderview Water ImprovementDistrict. <br /> Correspondence dated August 30, 2004 from the USDA Office of the General Counsel in San <br /> Francisco indicates that adoption of these resolutions are required per loan closing instructions to <br /> USDA's Rural Utilities Program Director in Bile, In response, our Legislative Auditor's Office, <br /> Honolulu bond counsel attorney, and Office of the Corporation Counsel have collaborated to bring <br /> these measures forward to assure that all loan/grant closing actions involving USDA are completed <br /> before the loan closing deadline of September 30, 2004 (the last day of the current federal 1 iscal <br /> year). It is critical that these measures be favorably adopted to secure the $3,696,400.00 in fbdcral <br /> loan financing and g1,823,600.00 federal grant underwriting this Kona improvement district. <br /> For these reasons, I have asked Chairman Arakaki to approve a request to waive this matter from the <br /> Finance Committee to enable timely action by the Council. <br /> 1 ask for your support to adopt this federally required "form" resolution ("RUS Bulletin 1780-27, <br /> I.oan Rusolution") and its "cover" resolution as submitted. Thank you for your thoughtful <br /> consideration of this matter. <br /> <br /> JC'17rr <br /> Attachments <br /> <br /> 4Q-a- a39-oy <br /> <br /> <br /> Kano Council Office. 776399 Naomi 411nr nn • KlilmnK.na • Il:mw'i • 967-10-9980 <br /> llaemi'i Coinny is an G1rm1 Oppurionny Provider and Enrployer -7~ V <br /> Comm. No. <br /> Ref. TO: <br /> <br /> ef. Date <br /> R <br />