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County of Hawaii, State of Hawaii <br />NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (Continued) <br />Fiscal Year Ended June 30, 2014 <br />NOTE C - OUTSTANDING LOAN BALANCES <br />The State Revolving Fund Loans are for the construction of necessary water treatment works <br />and for wastewater reclamation projects, as well as solid waste projects. <br />County - As of June 30, 2014, the outstanding principal amounted to $22,928,638 that bears <br />interest at 0.50 percent to 2.50 percent. The loans require semi-annual principal and interest <br />payments and loan fees through fiscal year 2033. The County has 10 projects funded with <br />these loans. <br />DWS - As of June 30, 2014, the outstanding principal amounted to $13,658,717 that bears <br />interest at 0.50 percent to 1.37 percent. The loans require semi-annual principal and interest <br />payments and loan fees through fiscal year 2033. The DWS has 12 projects funded with these <br />loans. <br />22 <br />