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oilr of, <br /> COUNTY OF HAWAII -• .',-=%:%/=t- STATE OF HAWAII <br /> ATE oF•H. <br /> BILL NO. 157 <br /> ORDINANCE NO. ±6 29 <br /> AN ORDINANCE AUTHORIZING THE MAYOR OF THE COUNTY OF <br /> HAWAII TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT FOR <br /> A STATE WATER POLLUTION CONTROL REVOLVING FUND LOAN FOR <br /> SOLID WASTE PUBLIC IMPROVEMENT PROJECTS; AND AUTHORIZING <br /> THE ISSUANCE OF $6,000,000 GENERAL OBLIGATION BONDS OF THE <br /> COUNTY OF HAWAII FOR THE PURPOSE OF FINANCING QUALIFIED <br /> SOLID WASTE PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAII <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. Request for Loan. The County of Hawaii, pursuant to Section 342D- <br /> 54, Hawaii Revised Statutes, will be submitting an application for a State Water Pollution • <br /> Control Revolving Fund Loan (SRF Loan) to the Director of the Department of Health, <br /> State of Hawai`i, to finance the construction of the solid waste project listed in "Exhibit A". <br /> Under the terms and conditions anticipated with regard to such SRF loan, the <br /> County shall repay, over a term of twenty years, the principal amount, which shall not <br /> exceed $6,000,000, at a fixed rate of interest which shall not exceed the Bond Buyer's <br /> 20-year general obligation bond issue. <br /> SECTION 2. Authorization of Mayor. The Council hereby authorizes the Mayor to <br /> execute all necessary intergovernmental agreements and documents between the State <br /> of Hawaii and the County of Hawaii, relating to the SRF to finance the construction of the <br /> solid waste project listed in "Exhibit A". <br />