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yV~ f <br /> 4~JN'V OF• "•Y <br /> _ ~i <br /> <br /> Steahen K. Yamashiro Harry A. Takahashi <br /> Mayor Direcmr <br /> • ~ <br /> .y <br /> ~J~•: wTO <br /> OFF Of •NF+ <br /> ~IILtIt'~}~T IIl ~~I~1T2Iit <br /> DEPARTMENT OF FINANCE <br /> 25 Aupuni Street, Room 118 Hilo, Hawaii 96720-4252 <br /> (808) 961-8234 Fax (806) 9618248 <br /> January 28, 1998 <br /> TO Harry A. Takahashi, Director of Finance <br /> FROM Frank Manalili, Treasurer <br /> SUBJECT: Response to Legislative Auditors Financial Impact Question <br /> The following should be your response to questions posed by the Legislative <br /> Auditor's letter of January 23, 1998 regarding financial impacts: <br /> 1. Enclose is the repayment schedule for a $40 million bond based <br /> on an interest rate of 5.25% for 20 years. <br /> 2. The repayment schedule would be half of the attached $40 <br /> million bond for a $20 million bond. <br /> 3. Enclosed is the schedule of the County's G. 0. bonds with the <br /> addition of the $40 million bond. This does not include the <br /> debt service on SRF loans which has a balance outstanding of <br /> $29,198,386 at February 1, 1998. The projection of annual SRF <br /> debt service for /t7 is based on Gary Takamura's attached SRF <br /> debt service at April 10, 1997. <br /> 4 & 5. The enclosed statement of funded debt at February 1, 1998 <br /> reflects the addition of the $40 million and the breakdown of <br /> debt. <br /> 6. Enclosed is ratio of Net Bonded Debt to Assessed Valuation and <br /> Net Bonded Debt per capita for past ten years and projected <br /> for ensuing four years. Net Bonded Debt used for projected <br /> four years net bonded debt at February 1, 1998. <br /> 7, Enclosed is ratio of annual debt service expenditures for <br /> general obligation bonded debt to total general governmental <br /> expenditures for the past years and projected for ensuing four <br /> years. <br /> g, Unable to comment on this. <br /> Enclosure <br /> <br />