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<br /> Form B-52 <br /> <br /> 7/18/91 <br /> DEPARTMENT OF FINANCE <br /> REQUEST FOR COUNCIL ACTION <br /> DEPARTMENT: Finance DATE: August 6, 2007 <br /> STAFF CONTACT: Mike Okumoto PHONE: 961-8303 <br /> A. REQUEST: <br /> Request the Council's consideration and passage of a bond ordinance to finance a water system upgrade of <br /> Andrade Camp, Pepe'eko. <br /> B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED): <br /> The residents of Andrade Camp wish to upgrade their water system that was formerly maintained by C. <br /> Brewer & Co. A combined effort of government agencies, notably the Dept. of Water Supply(DWS) and <br /> Representative Dwight Takamine worked with the USDA to provide financing for the water system <br /> improvement through a grant of $510,500 and loan of $147,000. The financing from USDA is contingent on <br /> the County issuing a general obligation bond that will be used to secure the loan. Bond payments will be <br /> made by the County, but will be reimbursed by DWS. DWS will, in turn, bill the Andrade Camp association <br /> members for their portion of the bond payment. <br /> II <br /> SIGNED: l~1 ~ ~ DATE: AUG 2 O LGO7 <br /> epartmen Head <br /> <br />