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I larry Kim _ � ".!�•, Collins Tomei m toor Hyl, • Deanna S. Sako — ' Deputy Director County of Hawaii Finance Department 23 A upun i Street.Suite 2103 • II IIn I l await 96720 (8081961-5234 • Fax(808)961-8569 f1 March 31, 2017 a Co y C Valerie Poindexter, Council Chair and ~ U./ -fy Members of the I Iawai'i County Council OK Hawaii i County Council r- 2 5 25 Aupuni Street r Dnri Hilo, Hawaii 96720 ro y�e w = Re: Agreement with the United States of America Bill 25 was transmitted to Council on March 16, 2017 to issue General Obligation Bonds for the Water Department Supply's Papa'ikou Transite & G. 1. (Galvanized Iron) Pipeline Replacement project. Enclosed is a resolution to authorize the adoption of USDA (United States Department of Agriculture) form resolution 1780-27 providing for the incurrence of indebtedness for the financing of this project by entering into an agreement with the United States of America in order to secure assistance in the form of a loan secured by a bond from the County (54,105,000) and for the USDA grant portion (53,470,000) of the project. In order to proceed with the loan. grant and bond closing process, the USDA requires that the Loan Resolution indicated above he adopted. In order to have this resolution be adopted concurrently with Bill 25 and to meet the deadlines related to the project, the Department of Water Supply requests that a breach be authorized to submit this resolution after the March 30. 2017 submission deadline, and to waive it from the Finance Committee in order to be placed on the April 19. 2017 Council agenda. If there are any questions, /stplease do not hesitate to call the Department of Water Supply. Collins Tomei Director of Finance Enc. c: Water Supply Cann No. LI 9 <Res. I5q 17) Ref. To: 0.47144 E-) Ref. Date APR 0 3 2017 Hawaii County is an Equal Opportunity Employer and Provider