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<br /> 02/09/96 10:36 TY415 274 17ZU JnLAxUVr-sVVU1 a WJUUD/VI% <br /> <br /> ' BZ/86f% 17:84:87 03-4888-> 415 274 1726 -{y's Investors Page 884 <br /> <br /> <br /> <br /> Gwwal Obligation/Special Tax February 5, 1996 3 <br /> <br /> Hawaii County, Hawaii <br /> <br /> <br /> <br /> <br /> <br /> <br /> Agriculture In Transition And Resort Industry in the sugar industry have also contributed to sonic of <br /> DeVelOPRV the highest unemployment levels in the state, <br /> with its varied geography, ranging from alpine Recent runway expansion and the development of <br /> mountain meadows to lush, wet rain forests. the new resorts on the island's Kona - or western - coast, <br /> island has had a wide range of agricultural products. has contributed to a growing tourism industry. The <br /> Famed internationally for its Kona coffee, the island's unspoiled scenery and the availability of <br /> island's historical agricultural mainstays have been large parcels of land have helped to fuel the develop- <br /> sugar and ranching. While the island continues to ment of large, high-end resorts. The runways are <br /> supply nearly two-thirds of the state's beef produc- now able to accommodate wide body jet service from <br /> lion. the sugar industry has been declining rapidly. the mainland U.S. and negotiations are underway to <br /> Two plantations have closed in the past year and the provide direct international service: currently inter- <br /> last plantation is due to close in the next year. Other national visitors must fly through Honolulu. The <br /> agricultural products have stepped in to replace some islands mow-peaked mountains have attracted asuo- <br /> of the lost production, including Macadamia Nuts nomical and meteorological research facilities and <br /> and exotic nowem However, it will be sometime the islands' active volcanoes are a unique tourist <br /> before the 64,000 acres devoted to sugar production attraction, <br /> in 1990 are fully absorbed for new uses. The layoffs <br /> sale Inlomx9lon: Legal Name of Issuer. County of Hawaii, Hawaii. Key Contacts <br /> Date of Bonds: February 1, 1996. Chet Rnanclal Officer: Harry A. Takahashi. <br /> Finance Director. <br /> security: General obligation, unlimited tax. Under Bond Counsel: Hawkins. Delatield ,t Wood, <br /> the State Constitution, debt service is a first charge New York. <br /> on the county's General Fund and the county is Auditor: Deloitte & Touche, LL-P, Honolulu <br /> obligated to levy unlimited ad valorem taxes to pay (FY 1995). <br /> such debt service. Registrar: Hawaii County Director of Finance. 0 <br /> Purpose of Borrowing: F1nnd public improvements paying Agent: Hawaii County Director of <br /> authorized in the fiscal 1994, 1995, and 1996 Capital Finance, m <br /> Budget ordinances. 0 Bock per. Th. n pojm Tom C.Vmy. N« Yatc <br /> rating history: October 1940: A January 1938: Ana <br /> June 1938: Aa <br /> analyst: Nlkolai J. Sklarolf <br /> (415) 274-1741 <br />