COM 0636.008 1996-1998 - Laserfiche WebLink

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JNTV OF y,~ O.' 7~ 4~ Ily Stephen K. Yamashiro ,i- Richard Wurdeman lvtayor Corporation Counsel .y~' ^ ' J ~rE•a~~H~~s Cnnuzt#~r of ~ttfixtt'tt OFFICE OF THE CORPORATION COUNSEL 101 Aupuni Street, Suite 325 • Hilo, Hawaii 96720-4262 • (808) 961-8251 • Fax 1808) 96I-8622 t_.;. ~r r , February l7, 1998 ` TO: Comiic Kirin Legislative Auditor FROM: Patricia K. O'Toole Deputy Corporation Counscl\ RE: Bill 180. DI aft 2 Authorization of $40.000,000 General Obligation Bonds This is iu response to your inquiry concerning the above-referenced matter. Bill 180 authorizes the issuance of general obligation bonds in the amount of $40,000,000. The funds are to be used to pay for public improvement projects listed in "Ordinance 95-75, as :upended, Ordinance 96-68, as amended, and Ordinance 97-82, as amended, for the fiscal years ending .lone 3Q 1996, June 30, 1997, and June 3Q 1998, respectively." Since the current fiscal year is not yet completed Ordinance 97-82 which covers this fiscal year could be amended again before June 30, 1998. Your first question is, whether in enacting Bill 180 as written, the council would be authorizing usage of the bond proceeds for projects contained in Ordinance 97-82 ally until the effective date of the passaged of the ordinance a' would it be authorizing expenditure of funds on projects which are later added to Ordinance 97-82 up to the ending of the fiscal year on Junc 30, 1998'? Our response is that it would be authorizing funds for projects which may be added to Ordinance 97-82 up until June 30, 1998. The language from Bill 180 clearly indicates that the funds may be spent on projects listed in Ordinance 97-82 "as amended" and that the period of time covered continues until ,lone 30, 1998. Your next question is that, if we conclude that the council would be authorizing the usage of bond proceeds to finance projects adopted by the council subsequent to the adoption of Bill 180,