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<br /> <br /> <br /> JMty of Mob <br /> <br /> Stephen K. Yamashiro Harry A. Takahashi <br /> Mayor Director <br /> i••;.-_y S.K. Schulte <br /> j7TF l1fNf'N' Debut, <br /> <br /> (90lTlt l II (ft nti <br /> DEPARTMENT OF FINANCE <br /> 25 Aupuni Street, Room 118 • Hilo, Hawaii 96720-4252 <br /> (808) 961-8234 • Fax (808) 961-8248 - - <br /> June 23, 1998 <br /> <br /> <br /> <br /> The Honorable James Y. Arakaki, Council Chair and Council Members <br /> <br /> Hawaii County Council <br /> Hilo, Hawaii <br /> <br /> Re: Proposed Amendment to Bill 248, Relating to General Obligation Bonds <br /> <br /> <br /> Attached is a proposed draft 2 to Bill 248 authorizing the issuance of <br /> $9,000,000 General Obligation Bonds for the purpose of financing qualified <br /> wastewater public improvements. Please note that Bill 248 is being considered <br /> on second reading at your July 1, 1998, Council meeting. <br /> Recent discussions with State Department of Health officials regarding the <br /> availability of funds through the Hardship Grant Program for Rural Communities <br /> resulted in an awareness that certain parks facilities with wastewater <br /> disposal systems may qualify for grant/loan program funding. The Parks <br /> Department does have an appropriation of $300,000 for upgrading of wastewater <br /> disposal systems for parks facilities. <br /> Bill 248 provides $9,000,000 in general obligation bonds to be issued to the <br /> State Department of Health for securing of one or more loans. Bill 248 <br /> identifies three wastewater projects under the jurisdiction of the Department <br /> of Public Works. Discussions with the Department of Public Works indicate <br /> that the Paukaa community sewer project is not expected to require the full <br /> amount designated. <br /> Our proposal is to reduce the amount earmarked for the Paukaa sewer project to <br /> $1,700,000 and to include the Parks wastewater disposal system upgrading <br /> project of $300,000. As a result of an earlier approval, the Paukaa project <br /> will have authorization to obtain $4.2 million in SRF loans. For your <br /> information, we have included a ramseyered page 2. <br /> <br /> <br /> <br /> <br /> <br /> File Ne. ND <br /> Ref. 3b1~ C f <br /> s,.tf. Date. ,R1N <br />