Laserfiche WebLink
Harry Kim <br />Mayor <br />William Takaba <br />Director <br />Nancy E. Crawford <br />Deputy Director <br />County of Hawaii <br />Finance Department <br />25 Aupuni Street' Room 118 • Hilo, Hawaii 96720 <br />(808) 961-8234 • Faz (808) 961-8248 <br />August 26, 2008 <br />The Honorable Pete Hoffmann, Chairman, and <br />Members of the Hawaii County Council <br />333 Kilauea Avenue, Second Floor <br />Hilo, HI 96720 <br /> ~~ <br /> a <br />m <br />:) <br />QC~ <br />~ <br />~, <br /> <br /> <br /> <br />.. rra <br />• <br />_ _~ <br />`_~ <br />- ~ _~ <br />~ <br />_ <br />_ ~°~il N ~~^ 1 <br /> <br />~~ .f <br />RE: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds <br />Attached for your consideration is a bill authorizing the issuance of up to $8 million in <br />general obligation bonds for the County of Hawaii. These funds will be used for the <br />Kaloko Housing Program facility and related bond issuance costs. <br />The requested funds should cover all of the costs of Phase I of the project. At the time of <br />our previous bond ordinance it was thought that alternative financing might be available. <br />It is uncertain whether the State funds will be released and other options are still under <br />discussion. Due to the urgent need for transitional housing in West Hawaii, the Housing <br />Agency wishes to proceed in the project with general obligation bond funding. If other <br />funding is subsequently obtained, the bond funds can be reimbursed. <br />Please contact the Housing Agency directly for additional information on the project. If <br />there are any questions regarding the bonds, please do not hesitate to contact Mike <br />Okumoto at 961-8303 or Nancy Crawford at 961-8092. Thank you very much. <br />William' akaba -_~ <br />Director of Finance <br />APPROVED: <br />\~,~~ <br />F Harry Kim / ~f'Z~ <br />Mayor Comm. No. <br />~~t~ ~~®, Ref. To; __ F <br />Ref. Date _ AUC__ 2 $_ Z_ 00g F,~ <br />Attachment - <br />Hawai'i County is an equal opportunity provider and employes. <br />