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Harry Kim , J�tYIOF p, ' Collins Tomei - <br /> Mayor '�= \\`6iZ? <br /> Director <br /> • <br /> �_ .•.� Deanna S. Sako <br /> • -.- , Deputy Director <br /> • .. OF•MF'•!� <br /> County of Hawai`i COUNTY CLERK <br /> COUNTY OF HAWAII <br /> Finance DepartmentRECEIVED <br /> 25 Aupuni Street,Suite 2103 • Hilo,Hawaii 96720 Timl <br /> e �:Ss A4' By <br /> (808)961-8234 • Fax(808)961-8569 Date MAR 16 20r/ <br /> March 16, 2017 <br /> Valerie Poindexter, Council Chair and <br /> Members of the Hawai`i County Council <br /> Hawai`i County Council <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 <br /> Re: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds <br /> Enclosed is a bill for an ordinance authorizing the issuance of$4,105,000 General <br /> Obligation Bonds of the County of Hawai`i for the purpose of financing the Papa'ikou <br /> Transit and Galvanized Iron Pipeline Replacement project that will replace undersized <br /> and aging asbestos cement(transite) and galvanized waterlines to bring the system up to <br /> standards for fire flow. <br /> This request for $4,105,000 is to replace approximately 15,000 linear feet of waterline, <br /> and services approximately 240 customers. It also allows the Department of Water <br /> Supply to obtain a grant of$3,470,000 from the United States Department of Agriculture <br /> Rural Development on behalf of the Rural Utilities Service. <br /> The Board of Water Supply has already approved this borrowing. The Department of <br /> Water Supply will reimburse the General Fund for the related debt service on the bonds <br /> and the cost of issuance. <br /> The Department of Water Supply request that this bill be waived from the Finance <br /> Committee and be placed on the April 5, 2017 Council agenda due to deadlines related to <br /> the project. If there are any questions, please do not hesitate to call the Department of <br /> Water Supply. <br /> Collins Tomei gS <br /> comm. No._._ <br /> Director of Finance Ref. To: DV• w <br /> Enc. Ref. Date A 0 5 2®i7 <br /> cc: Water Supply <br /> <WA\ -AS> <br /> Hawaii County is an Equal Opportunity Employer and Provider <br />