RES 040 Draft 01 1996-1998 - Laserfiche WebLink

Home

. . . DRAFf I am the chief financial officer of the County of Hawaii, 25 Aupuni Street, Hilo, Hawaii. This letter is to demonstrate financial responsibility for closure, post-closure, and corrective action costs related to the following municipal solid waste landfills (MSWLFs) operated (or formerly operated) by the County of Hawaii: Hilo Landfill - South Hilo, Hawaii Kealakehe Landfill - North Kona, Hawaii The total amount of costs to be assured as of June 30, 1996, is $13.465,000 for MSWLF costs and $1,000,000 for underground storage tank costs, for a total of $14.465,000. The maximum amount that the County of Hawaii can assure under applicable federal rules is limited to 43% of total annual revenues, or $66,282.405 as of June 30, 1996. Details of the cost estimates and the calculation of the maximum assurance amount are shown on Schedule 1 attached to this letter. I certify that the CountY of Hawaii has a current bond rating of "A" on all rated, uninsured, outstanding general obligation bonds and meets the requirements of 40 CPR Part 258, Section 258.70(t)(a)(i)(A). As required by 40 CPR Part 258, Section 258.70(t)(I)(ii), I certify that the financial statements of the County of Hawaii as of June 30, 1996, were prepared in conformity with Generally Accepted Accounting Principles for governments, and that they have been audited by Deloitte & Touche LLP, independent certified public accountants. As required by 40 CPR Part 258, Section 258.70(t)(1)(iii), I certify that: a) the County of Hawaii is not currently in default on any outstanding general obligation bonds; b) the County of Hawaii does not have any outstanding general obligation bonds rated lower than Baa as issued by Moody's or BBB as issued by Standard and Poor's; c) the County of Hawaii has not operated at a deficit equal to five percent or more of annual revenue in each of the past two fiscal years; and d) the County of Hawaii has not received an adverse opinion, disclaimer of opinion, or other qualified opinion from Deloitte & Touche LLP, independent certified public accountants.