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<br /> COUNTY OF HAWAII STATE OF HAWAII <br /> ''~~~N''+~ BILL NO. 348 <br /> ORDINANCE NO. <br /> AN ORDINANCE AMENDING ORDINANCE NO.04-59 OF THE COUNTY OF <br /> HAWAII ON MAY 19, 2004 RELATING TO THE ISSUANCE OF GENERAL <br /> OBLIGATION BONDS FOR THE PURPOSE OF FINANCING VARIOUS PUBLIC <br /> IMPROVEMENTS FOR THE COUNTY OF HAWAII <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. Ordinance No. 04-59, SECTIONS 1, 2 and 3 are hereby amended to read as <br /> follows: <br /> "SECTION 1. Findings and Determinations. The County Council has determined <br /> to authorize the issuance and sale of general obligation bonds (the "Bonds") of the County in <br /> a principal amount not to exceed [$40,000.000] $45,000,000, the proceeds derived from the <br /> sale of which are to be expended by the County to finance various road and highway <br /> construction and public transportation enhancements in the districts of North Kona, South <br /> Kona, Puna, Hamakua, Hilo and South Kohala as set forth in Section 14. The County <br /> Council has further determined that this authorization for the purpose and projects described <br /> herein will address longstanding needs for highway construction and road improvements and <br /> transportation enhancements and are in the best interest of the County. <br /> "SECTION 2. Purpose. In selecting various road and highway construction <br /> projects, priority shall be given to internal connector roads and road extensions to relieve <br /> traffic bottlenecks and congestion in North Kona and South Kona, the findings and <br /> recommendations of the Keahole to Honaunau Regional Circulation Plan and Puna Regional <br /> Circulation Plan, an alternative route to the intersection of Lindsey Road and Mamalahoa <br /> Highway in Waimea, strategic and timely acquisition of rights-of way in Kona and Puna, and <br /> installation of traffic signals and other safety improvements. It is intended that the <br /> distribution of the proceeds shall be apportioned as follows: North and South Kona, $23 <br /> million; South Kohala, $10 million; Puna, $7 million• three pazk-and-ride facilities in South <br /> <br />