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<br /> <br /> <br /> DENNIS "FRESH" ONISHI OF N Phone: (808) 961-8571 <br /> • % • Fax: (808) 961-8912 <br /> Council Member ~p <br /> Council District 4 Email: donishi@co.hawaii.hi.us <br /> •f1T f o H'i,r~~ . <br /> Mailing Address: Business Address: <br /> (Former County Building) 333 Kalauea Avenue, Second Floor <br /> 25 Aupuni Street Hawaii County Council Ben Franklin Building <br /> Hilo, Hawai `i 96720 County of Hawai'r . Hilo, Hawai `i 96720 <br /> <br /> <br /> <br /> <br /> MEMORANDUM C" c <br /> <br /> t - <br /> TO: J Yoshimoto, Council Chair <br /> and Council Members <br /> <br /> J V, <br /> Y <br /> FROM: Dennis "Fresh" Onishi, Council Member <br /> DATE: November 5, 2009 <br /> SUBJECT: Bill 160, Draft 2, Relating the Issuance of General Obligation Bonds for the <br /> Department of Water Supply <br /> <br /> <br /> Attached please find Bill 160, Draft 2. Bill 160 was amended by the contents of Communication <br /> No. 570.1 as duly approved at the November 4, 2009 Council meeting. <br /> <br /> Specifically, Draft 2 amended section 13 as follows (the amendments below are illustrated in <br /> Ramseyer format with respect to the contents of Bill No. 160, and are in bold for illustrative <br /> purposes only): <br /> <br /> "SECTION 13. Reimbursement of Expenditures. The County expects that [it] the County <br /> or the Water Department may pay certain capital expenditures for the Projects prior to the <br /> issuance of the Bonds or Notes authorized hereby, and reasonably expects to reimburse such <br /> expenditures from the proceeds of the Bonds or Notes. The County hereby declares its official <br /> intent to use proceeds of the Bonds or Notes to reimburse itself or the Department for future <br /> expenditures in connection with such Projects. This ordinance is adopted in part for the <br /> purpose of establishing compliance with the requirements of Section 1.150-2 of the Treasury <br /> Regulations. This ordinance shall be reasonably available for inspection at the office of the <br /> County Clerk commencing within fifteen (15) days after its adoption by the Council." <br /> <br /> <br /> <br /> DFO/kk <br /> Attachments Comm. No. S ~O• <br /> r• ` Ref. To: <br /> Ref. Date_ROV 0 4 2QQ <br /> Serving the Interests of the People of Our Island <br /> Hawai `i County is an Equal Opportunity Provider and Employer <br />