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COUNTY OF HAWAII STATE OF HAWAII <br /> BILL NO. >ss <br /> ORDINANCE NO. <br /> <br /> AN ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS <br /> <br /> OF THE COUNTY OF HAWAII IN A PRINCII'AL AMOUNT NOT TO EXCEED $147,000 <br /> FOR THE PURPOSE OF FUNDING A PORTION OF TIID COSTS OF A WATER <br /> <br /> DEPARTMENT PROJECT REFERRED TO AS THE ANDRADE CAMP WATERLINE <br /> IMPROVEMENTS; FA'ING THE FORM, DENOMINATIONS, AND CERTAIN OTHER <br /> DETAILS OF SUCH BONDS AND PROVIDING FOR THE SALE THEREOF; AND <br /> AUTHORIZING 'THE TAKING OF OTHER ACTIONS RELATING TO THE ISSUANCE <br /> AND SALE OF THE BONDS. <br /> BE TT ORDAINED BY 7'HE COUNCIL OF THE COUNTY OF HAWAI` I: <br /> SECTION 1. Findings and Determinations. The County Council hereby determines <br /> and finds that: <br /> (a) The Department of Water Supply (the "Water Department") of the County of Hawaii <br /> (the "County has determined to undertake the construct a waterline improvement project referred to <br /> as the Andrade Camp Waterline Improvements in Pepe`ekeo, County of Hawaii (the "Project"). <br /> (b) The United States of America, acting by and through the Department of Agriculture <br /> ("USDA"), has offered to provide financing for the Project in the form of (i) a grant (the "Grant") in <br /> an amount not to exceed Five Hundred Ten Thousand Five Hundred Dollazs ($510,500), and (ii) a <br /> loan (the "Loan") at one time or from time to time in a total principal amount not to exceed One <br /> Hundred Forty Seven Thousand Dollars ($147,000). <br /> (c) The Water Department has determined to obtain the Grant and Loan and, in <br /> connection therewith, has requested the County Council to authorize the issuance and sale of general <br /> obligation bonds of the County to USDA to evidence and secure the Loan and thereby provide funding <br /> for the Project. <br /> <br />