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,oJ.tYoip ',• <br /> •.•��_ Wil Okabe <br /> 41iii,; ', Managing Director <br /> Harry Kim % +: :i/!/, :t <br /> Mayor <br /> ---: Barbara J.Kossow <br /> •, +r�TF Deputy Managing Dire <br /> ..r„-r• <br /> =Zs (DIC <br /> County of Hawal i - -� <br /> Office of the Mayor <br /> 25 Aupuni Street,Suite 2603 • Hilo,Hawaii 96720 • (808)961-8211 • Fax(808)961-6553 -g t"'• <br /> KONA: 74-5044 Ane Keohokalole Hwy.,Bldg.C • Kailua-Kona,Hawaii 96740 r"1 <br /> (808)323-4444 • Fax(808)323-4440 <br /> CO <br /> November 15, 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, Hawai`i 96720 <br /> Re: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds <br /> Attached for your consideration is a bill authorizing the issuance of up to $12,500,000 in general <br /> obligation bonds for the County of Hawai`i for capital improvement projects, which includes <br /> $150,000 for cost of issuance. <br /> These bonds would be issued for the construction of the Hawai`i County Prosecuting Attorney's <br /> Office building at the West Hawai`i Civic Center. Completion of this project will provide for <br /> close proximity of the prosecuting staff to the new State Judiciary building in Kona. Co-locating <br /> the Prosecutor's office with other county offices on the West Hawai`i Civic Center campus will <br /> benefit the county with savings by using the economy of scale. Some examples of such savings <br /> would be in owning the building rather than renting, reduced travel mileage and time and using <br /> shared resources with other departments on the campus. <br /> Our County's debt service capacity has been reviewed to ensure we have the capacity to issue <br /> additional bonds up to the requested amount. With this authorization of$12,500,000, our debt <br /> service percentage will be approximately 13.0%. This percentage is within our GFOA guideline <br /> that debt service expenditures should be below 15% of total expenditures each year. <br /> We request that this bill be waived from the Finance Committee and be placed on the December <br /> 5, 2017 Council agenda due to the time sensitive nature of this matter. If there are any questions, <br /> please do not hesitate to call Deanna Sako at 961-8234. ” • <br /> Asq <br /> Harry Kim M. No. - ( <br /> Mayor • Ref. To: <br /> Ref. Date. NOV 2 2 2117 .� <br /> Attachment <br /> County of Hawai <br /> ii s an Equal Opportunity Provider and Employer. <br /> 9• `> <br />