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Kona North Kona and Puna, $1,500,000; Sand Gulch by-uass road in Hamakua, $2,400,000; <br /> Laupahoehoe Point emereencv access road $100,000: transportation enhancement proiects in <br /> Hilo, $1,000,000. <br /> "SECTION 3. Authorization of Bonds. There aze hereby authorized for issuance <br /> and sale Bonds of the County in a principal amount not to exceed [$40,000,000] $45,000,000 <br /> in the aggregate, the proceeds derived from the sale of which shall be used and expended by <br /> the County to pay all or a part of the costs of the authorized public improvements referred to <br /> in Section 14 hereof and all or a part of the costs incurred by the County in connection with <br /> the issuance of the Bonds." <br /> SECTION 2. Ordinance No. 04-59, SECTION 14, is hereby amended to read as follows: <br /> "SECTION 14. Authorization of Proceeds for Public Improvements. The proceeds <br /> from the issuance and sale of General Obligation Bonds of the County of Hawaii in the <br /> principal amount of [$40,000.000] $45,000,000 shall be used for the sole purpose of <br /> financing road and highway construction and transnortation enhancement projects in the <br /> districts of North Kona, South Kona, Puna, Hamakua, Hilo and South Kohala." <br /> SECTION 3. Material to be deleted is bracketed. New material is underscored. In printing <br /> this ordinance, the brackets, bracketed material, and underscoring need not be included. <br /> SECTION 4. Effective Date. This ordinance shall take effect upon its approval. <br /> INTRODUCED BY: <br /> COUNCIL MEMBE ,COUNTY OF HAWAII <br /> Hawaii <br /> <br /> Date of Introduction: <br /> <br /> Date of 1 s` Reading: <br /> <br /> Date of 2nd Reading: <br /> <br /> Effective Date: <br /> REFERENCE: Comm. 798 <br /> <br />