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<br /> <br /> <br /> JNtVIGi ~!!y~ <br /> William P. Kenoi Nancy E. Crawford <br /> illt/y' <br /> Mayor ' Director <br /> f~ ,f <br /> Deanna S. Sako <br /> >t oF'M?~ Deputy Director <br /> County of Hawaii <br /> Finance Department <br /> 25 Aupuni Street, Room 118 • Hilo, Hawaii 96720 <br /> (808) 961-8234 Fax(808)961-8248 <br /> <br /> rl" <br /> October 9, 2009 <br /> 0 <br /> 80 <br /> Z_.: <br /> The Honorable J Yoshimoto, Chairman 1-. <br /> and Members of the Council <br /> County of Hawai' i -p <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 C4 <br /> Dear Chairman Yoshimoto and Council Members: <br /> COUNTY OF HAWAI'1 <br /> GENERAL OBLIGATION BOND ANTICIPATION NOTE <br /> SERIES A, NUMBERED R-1 <br /> Pursuant to Ordinance Nos. 04-59, 04-154, 07-120, 08-106, 08-148, 09-92 and 09-92A <br /> (the "Authorizing Ordinances"), I have proceeded on behalf of the County of Hawai' i (the <br /> "County") with the issuance and sale of the above-referenced bond anticipation note in the <br /> principal amount of $5,000,000 (the "Note"), and wish to submit the following report on the sale <br /> and issuance thereof: <br /> <br /> 1. The Note was issued on the October 9, 2009 in the principal amount of <br /> $5,000,000 and was sold at a price equal to such principal amount. <br /> 2. The Note matures on February 25, 2010 and bears interest (payable at maturity) <br /> at the rate of 1.25% per annum. The Note is not subject to redemption prior to maturity. <br /> <br /> 3. Pursuant to the Authorizing Ordinances, the Note is being issued in anticipation <br /> of the issuance of general obligation bonds, and is intended to be repaid from the proceeds of <br /> such bonds when issued. Notwithstanding the foregoing, repayment of the Note shall not be <br /> conditioned upon the issuance of such bonds. The Note is a general obligation of the County. <br /> Under the Constitution and laws of the State of Hawaii, the full faith and credit of the County are <br /> pledged to the payment of the principal of and interest on the Note. <br /> Sincerely, <br /> <br /> <br /> c~ ~7 <br /> Nancy rawford Comm. No. J T~ <br /> Director of Finance Ref. To: <br /> Ref. Date OCT 13.2009 <br /> <br /> Hawai'i County is an equal opportunity provider and employer. <br />