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w <br />COUNTY OF HAWAII OF HAWAII <br />BILL NO. 248 <br />ORDINANCE NO. <br />AN ORDINANCE AUTHORIZING THE ISSUANCE OF $9,000,000 GENERAL <br />OBLIGATION BONDS OF THE COUNTY OF HAWAII FORTHE PURPOSE OF <br />FINANCING QUALIFIED WASTEWATER PUBLIC IMPROVEMENTS OF THE COUNTY OF <br />HAWAII; FIXING THE FORM, DENOMINATIONS, AND CERTAIN OTHER DETAILS OF <br />SUCH BONDS AND PROVIDING FOR THEIR SALE TO THE DEPARTMENT OF HEALTH <br />OF THE STATE OF HAWAII TO SECURE ONE OR MORE LOANS BY SAID <br />DEPARTMENT. <br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br />SECTION 1. Findings and Determinations. It is hereby found and <br />determined that (i) the State of Hawaii (the "State"), in accordance <br />with the Federal Water Quality Act of 1987, Public Law 100-4, has <br />established pursuant to various legislative enactments in the State <br />Treasury a Water Pollution Control Revolving Fund for the purpose of <br />receiving Federal and State funds to provide financial assistance to <br />governmental agencies for the planning, design and construction of <br />treatment works owned by -a governmental agency; (ii) the Department <br />of Health of the State (the "Department of Health") has agreed to <br />fund certain wastewater treatment projects (the "Qualified <br />Wastewater Projects") of the County of Hawaii, State of Hawaii (the <br />"County") with a combination of Federal grants and State grants and <br />loans from the State Water Pollution Control Revolving Fund; and <br />(iii) the interest on such loans shall be below prevailing market <br />rates. <br />It is hereby further found and determined that (i) there has <br />been appropriated pursuant to capital budget Ordinance Nos. 96-68 <br />and 97-82 passed by the Council of the County and approved by the <br />Mayor of the County and with effective dates of July 1, 1996, and <br />q�--75 <br />