2012-12-12 Board of Ethics minutes

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money was not used, as required for the specific bond issuance—in other words, what item of the bond—in fact if you’d like to, I could read the actual bond here— MR. BALSIS: --That’ll be okay. MR. COLE: Okay. What item of the bond did the $10 million that the bond anticipation refinancing notes series B—series B, I understand, is a refinancing note, okay. So we have never issued a series A, apparently, because I found out they said it was a typo, and Bank of Hawai‘i issued the County of Hawai‘i $10 million loan on a typo. That’s stretches the imagination. So not only do we have to determine what value the people of Hawai‘i got for their $66,000 interest, but what item of Bill 311 did in fact the bond anticipation note be issued for. That can never be answered, because there was no authorization. MR. BALSIS: Any comments or questions from the rest of the Board? MR. HENRICKS: None. MR. HISASHIMA: No. MR. BALSIS: Is there any thoughts on where we shall proceed with this? MR. HISASHIMA: Mr. Cole? MR. COLE: Yes. MR. HISASHIMA: The documents you refer to, Bill 311, and the email from Lincoln Ashida— MR. COLE: --Emails from Lincoln Ashida, yes. MR. HISASHIMA: Did you submit any copies of that? MR. COLE: Yes, I have. In fact, if you look at my petition, I actually had presented those to you in public, and you had received those documents numerous times, as a matter of fact. I think I actually stated here are the documents, that I approve this, and that I have issued them to you, I think. Okay, _______. In fact, I refer to page 2 of the minutes of the Regular Session of Wednesday, July the 11th, 2012, where I state, quote, here’s the exact illegal bonds being sold by the mayor and Nancy Crawford, the deposit slip from the Bank of Hawai‘i to First Hawaiian Bank, the return of principal of the First Hawaiian Bank, and the federal IRS forms of tax-free obligation. They’re on file with your Board here. So if you review the actual filings and the testimony I’ve made, you will see all these are in there. You will also notice that there are also in there, as identified, from my petition for Nancy Crawford. So you are well aware of all this information. However, if you’d like more copies, we can have them electronically transferred to you. But this should be brought up in a formal hearing.