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COUNTY OF HAWAII <br />STATE OF HAWAII <br />BILL NO. Iz <br />ORDINANCE NO. <br />AN ORDINANCE AMENDING ORDINANCE NO. 04-59 OF THE COUNTY OF <br />HAWAII, AS HERETOFORE AMENDED BY ORDINANCE NO. 04-154, PERTAINING <br />TO THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR THE PURPOSE OF <br />FINANCING VARIOUS PUBLIC IMPROVEMENTS DESCRIBED THEREIN. <br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI` I: <br />SECTION 1. Section 14 of Ordinance No. 04-59, as heretofore amended by Ordinance <br />No. 04-154, is hereby further amended to read as follows: <br />"SECTION 14. Authorization of Proceeds for Public Improvements-~ <br />Reimbursement of Expenditures. The proceeds from the issuance and sale of <br />General Obligation Bonds of the County of Hawaii in the principal amount of <br />$47,000,000 shall be used for the sole purpose of financing road and highway <br />construction, transportation enhancement projects in the districts of North Kona, South <br />Kona, Puna, Hamakua, Hilo and South Kohala, and islandwide irtfrastrucmre planning <br />efforts for roadway corridors, wastewater and solid waste facilities, and multimodal <br />transportation. The County expects that it may may certain capital expenditures for <br />the fore oing_proiects prior to the issuance of the Bonds and reasonably expects to <br />reimburse such expenditures from the proceeds of the Bonds The County hereby <br />declares its official intent to use [he proceeds of the Bonds to reimburse itself for <br />future expenditures in connection with such projects This ordinance is adopted in <br />part for the purpose of establishin~pliance with the requirements of Section <br />1.150-2 of the U.S. Treasury Regulations This ordinance shall be reasonably <br />available for inspection at the Office of the County Clerk located at the Ben <br />Fratilclin Buildine, 2nd Floor, 333 Kilauea Avenue Hilo Hawaii 9670 <br />commencine within fifteen (15) days after its adoption by the Council <br />