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tY Os y-_ <br /> I°w~r <br /> <br /> COUNTY OF HAWAII STATE OF HAWAII <br /> 'a'M' BILL NO. 348 <br /> (Draft 2) <br /> ORDINANCE NO. <br /> AN ORDINANCE AMENDING ORDINANCE N0.04-59 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 [$49;A00;00A] $47,000,000, 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 and to finance islandwide infrastructure <br /> plannine efforts as set forth in Section 14. The County Council has further deternned that <br /> this authorization for the purpose and projects described herein will address longstanding <br /> needs for highway construction and road improvements transportation enhancements, and <br /> infrastructure plannin¢ efforts, 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 ofrights-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, [~3 <br /> mtllie~] $23,000,000; South Kohala, $10,000,000; Puna, ["~'~~n] <br /> $7 000 000' four park-and-ride facilities in Hamakua South Kona, North Kona and Puna, <br /> ~ ~ 500 000• Sand Gulch by-pass road in Hamakua $2 400 000: Laupahoehoe Point <br /> <br />