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COUNTY OF HAWAII
<br /> Notes to the Basic Financial Statements
<br /> June 30,2005
<br /> Bonds Authorized and Unissued
<br /> The County Council has authorized the issuance of$47 million in general obligation bonds to
<br /> finance specified capital improvement projects. At June 30,2005, $17 million were not yet
<br /> issued.
<br /> Subsequent Events
<br /> On February 23,2006,the County issued$50 million in general obligation bonds(2006
<br /> Series A). The interest rates range from 4.0%to 5.0%and are due through 2026. Of the
<br /> bonds issued,$25 million is for the Department of Water Supply(the Department),the
<br /> County's component unit. The payments for these bonds will be reimbursed to the County by
<br /> the Department. The bonds were authorized in January 2006.
<br /> State Revolving Fund Loans
<br /> The County has obtained loans to assist in financing mandated wastewater projects from the
<br /> State Water Pollution Control Revolving Fund(SRF). The purpose of this revolving fund is
<br /> to provide low-interest, long-term loans and other financial assistance to the four counties in
<br /> the state to finance construction of wastewater projects. The County has fifteen projects
<br /> approved for funding with these loans. The schedule below shows the County's SRF
<br /> transactions for the fiscal year ended June 30,2005:
<br /> Loans Approved Loan Balance Loan Balance Due within
<br /> Authorized Amount June 30,2004 Additions Retirements June 30,2005 one year
<br /> Hilo WWTP $12,724,311 $6,584,:170 $ $ 661,425 $5,922,745 $ 677,961
<br /> Waiakea Mill 1,300,000 735,643 65,663 669,980 67,304
<br /> WaiakeaHslts 459,321 238,644 - 23,973 214,671 24,573
<br /> Waiakea Hslts Il 5,024,266 4,192,631 231,730 3,960,901 237,836
<br /> Ainako A&B 2,239,174 1,307,418 112,733 1,194,685 115,067
<br /> Kalanianaole 1,499,944 1,000,842 74,108 926,734 76,362
<br /> Kalanianaole RH 5,000,000 1,504,078 1,504,078 73,549
<br /> Alii Drive A&B 3,210,243 1,871,634 164,599 1,707,035 169,207
<br /> Alii Drive C&D 3,780,000 2,410,806 187,918 2,222,888 191,810
<br /> AM Drive E&F 2,112,654 1,502,:126 105,476 1,397,050 108,686
<br /> Waiaha Bay 3,697,893 2,418,1133 181,113 2,237,020 186,182
<br /> Kealakehe 1,300,071 734,303 65,543 668,760 67,181
<br /> Holualoa Bay 3,080,000 2,200,130 147,270 2,052,860 151,751
<br /> PaukaaCCS 2,143,448 1,758,:118 98,857 1,659,261 101,142
<br /> Pahoehoe Z817,76 760 2,542,_175 120,539 2,421,836 123,717
<br /> 29.497_:{7� 1 7 $2.240"947 � 2 2
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