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COUNTY OF HAWAII <br />ORDINANCE NO. <br />STATE OF HAWAII <br />BILL NO. 43 <br />AN ORDINANCE AMENDING ORDINANCE NO. 17-48, WHICH AUTHORIZED THE <br />MAYOR TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT FOR A STATE <br />WATER POLLUTION CONTROL REVOLVING FUND LOAN FOR SOLID WASTE <br />IMPROVEMENT PROJECTS AND AUTHORIZED THE ISSUANCE OF GENERAL <br />OBLIGATION BONDS FOR THE PURPOSE OF FINANCING THE SOUTH HILO <br />SANITARY LANDFILL FINAL CLOSURE PROJECT. <br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br />SECTION 1. The title of Ordinance No. 17-48 is hereby amended to read as follows: <br />"AN ORDINANCE AUTHORIZING THE MAYOR OF THE COUNTY OF HAWAII <br />TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT FOR A STATE <br />WATER POLLUTION CONTROL REVOLVING FUND LOAN FOR SOLID WASTE <br />IMPROVEMENT PROJECTS; AND AUTHORIZING THE ISSUANCE OF <br />[$20,000, $24,000,000 GENERAL OBLIGATION BONDS OF THE COUNTY <br />OF HAWAII FOR THE PURPOSE OF FINANCING THE SOUTH HILO SANITARY <br />LANDFILL FINAL CLOSURE PROJECT" <br />SECTION 2. Section 1 of Ordinance No. 17-48 is hereby amended to read as follows: <br />"SECTION 1. Request for Loan. The County of Hawaii, pursuant to Section <br />342D-54, Hawaii Revised Statutes, will be submitting an application for a State <br />Water Pollution Control Revolving Fund Loan (SRF Loan) to the Director of the <br />Department of Health, State of Hawaii, to finance the construction of the Solid <br />Waste improvement projects listed in "[Exhibit ] Exhibit A, Draft 2". <br />"Under the terms and conditions anticipated with regard to such SRF loan, <br />the County shall repay, over a term of twenty years, the principal amount, which <br />shall not exceed [$2000;009] $24,000,000, at a fixed rate of interest which shall <br />not exceed the Bond Buyer's 20 -year general obligation bond issue." <br />SECTION 3. Material to be repealed is bracketed and stricken. New material is <br />underscored. <br />SECTION 4. The only changes to Ordinance 17-48 are reflected solely in the monetary <br />amount indicated in the Ordinance Title, Section 1, and in Exhibit A, which has been replaced <br />with a new exhibit labeled as Exhibit A, Draft 2. <br />