COM 0636.003 1996-1998 - Laserfiche WebLink

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J"t~''F'•'9W p~.' . - L Stephen K. Yamashiro •T _ - Harry A. Takahashi Mayor ~ Direcmr er°:. S.K. Schulte ~rE oi•MS" r _ ~ i ~~`I , Deputy J i; u~ V (nun#~r ~t~fvtttt DEPARTMENT OF FINAN~~~'' ' ~ 25 Aupuni St~ecq Room 118 Hilo, Hawaii 96720-4252 (80R) 648234 Fax 08) 6 - 8 January The Honorable Aaron Chung, Chairman and Committee Members Committee On Finance Hawaii County Council Hilo, Hawaii Re: Bill 180 Relating to Issuance of $40 Million General Obligation Bonds Your Committee has requested a listing of prospective projects for the above-mentioned general obligation bond issue. In providing you with a listing, we have also attempted to provide you with an explanation of the allotment process. As indicated in your Committee discussions, the Administration has identified tentative projects which may be candidates for the bond proceeds. However, the Administration also recognizes that, as we progress, there may be new projects which may replace those under consideration. For your understanding as to how the process works, let's go back to Ordinance 93-43 which authorized $30,000,000 for projects approved in Ordinances 90-75, 91-51 and 92-74 for the fiscal years ending June 30, 1991, June 30, 1992, and June 30, 1993. This ordinance was subsequently amended by Ordinances 93-75, 94-104 and 95-115. These amendments allowed capital projects authorized in the capital budgets of the fiscal years ending June 30, 1994, June 30, 1995, and June 30, 1996, to qualify for the bond proceeds derived from the sale of the bonds authorized by Ordinance 93-43. We expect that similar amendments will take place to Bill 180 as we proceed to enact a new capital budget in future fiscal years. 63.03 Comma. Dig i~ie nt~. ~~/Rti ~ xer. Tol FL i~r. JAN 8 ~ I