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Pete Hoffmann, Chairman and <br /> Members of the Hawaii County Council <br /> Page 2 <br /> February 5, 2007 <br /> Pursuant to the County Procedures Manual for Participation in the Hawaii State Revolving <br /> Fund Loan Program, prepared by the Wastewater Branch of the Hawaii Department of <br /> Health in April 1994, part of the loan application process requires a "resolution or <br /> ordinance passed by the County Council which authorizes the SRF loan application and <br /> identifies the dedicated source(s) of revenue (i.e., general obligation bonds) which will fund <br /> the project and repayment of the loan with interest." The Council's authorization of the <br /> issuance of general obligation bonds will serve as a pledge of its general obligation <br /> authority as security for repayment of the loan and interest. <br /> Also enclosed, are the bills for ordinances adding the North Kona Sewer project ($466,000 <br /> - County Funding & $3,104,000 -SRF Funding) and North Kona EfFluent Reuse Upgrade <br /> project ($546,000 -County Funding & $3,643,000 -SRF Funding) into this fiscal year's <br /> Capital Budget. <br /> If there are any questions, please do not hesitate to call the Department of Environmental <br /> Management. <br /> d~,) <br /> William Takaba <br /> Director of Finance <br /> APPROVED: <br /> <br /> r~'~~~ <br /> Harry Kim <br /> Mayor <br /> Enc. <br /> cc: Environmental Mgt <br /> <br />