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~1Y Oi M~44 <br /> Harry Kim ~ ~e4, William Takaba <br /> blal nr lhrrclor <br /> ' Nancy E. Crawford <br /> ~i?oi Depuq~ Uvrcior <br /> r <br /> i , <br /> County of Hawaii <br /> Finance Department <br /> 25 nppunl Street Ronm I I H • Hlo. Hawnil 96720 <br /> (80ft)961-8234 • Fns (ROR)961-R24% <br /> March 6, 2006 <br /> Stacy K. Higa, Chairperson and <br /> Members of the Hawaii County Council <br /> Hawaii County Council <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 <br /> Re: Amendment to the 1996A General Obligation Bond Ordinance <br /> Ordinance No. 95-82, better known as the 1996A General Obligation Bond (GOB) Ordinance, restricted <br /> the use of bond proceeds to those Capital Improvement projects of the fiscal years noted within the text <br /> of the ordinance. Bond Ordinance No. 95-82, adopted on July 5, 1995, as amended by Ordinance No. <br /> 96-92, adopted on August 15, 1996, allowed proceeds to be used only towards projects contained in the <br /> CIP budget ordinances for the fiscal years ending in 1994, 1995, 1996, and 1997. <br /> Presently, the County has CIP projects which are in progress or ready to start, but we are not permitted to <br /> use the unspent 1996A GOB funds due to the ordinance's restriction. We recommend allowing the use of <br /> the unspent funds for any appropriated projects, noted in subsequent fiscal years' capital budgets. <br /> Enclosed is a bill for an ordinance to amend the 1996A General Obligation Bond ordinance (No. 95-82, <br /> adopted on July 5, 1995, as amended by Ordinance No. 96-92, adopted on August 15, 1996) and <br /> allowing the use of unspent bond funds for any appropriated capital improvement projects. <br /> If there are any questions, please do not hesitate to call Nancy Crawford, Deputy Director of Finance. <br /> ? <br /> William Takaba <br /> Director of Finance <br /> APPROVED: <br /> /~U~U~~ <br /> Harry Kim <br /> <br /> ~ Mayor <br /> Enc. .~t <br /> C ~t1U a43~ Comm. No._ / ~ <br /> Ref. To: <br /> Ref. L`gte <br /> Hawaii County is an Equal Opportunity Provider and Employer <br /> <br />