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all of these things. Specific projects that are mostly county <br /> oriented. We ask and . ifin their infinite wisdom and great <br /> generosity they decide to give us the money and we get the <br /> grant in aid,@;. Same thing with the water. Now whether the <br /> Governor is going to release or not release is an entirely <br /> different ball game. <br /> MR. ISHIDA: On this funding of the water <br /> budget on this general obligation bond. .this South Kohala <br /> project. As I understand your argument right now if the <br /> development of water resources and such are to be financed <br /> with general obligation bonds, there is the rationale _there,' <br /> as to why it should retain its semi-autonomous state. Now <br /> was this purely a mistake that this general obligation bond <br /> was used for that development? How did it happen that it <br /> turned out that way? <br /> MAYOR MATAYOSHI : The South Kohala water? why <br /> it became general obligation? Well what we hadTdecided;_ _, <br /> administratively, is that we would put our emphasis toward the <br /> development of the West Hawaii region. . .and as a tourist <br /> destination area and we started the Kahaluu Well . We went <br /> to the Governor, I went with Thompson and with Minoru to ask <br /> the Governor for his early release and so on. He was very <br /> cooperative and sent it up. Once the water was assured in <br /> the South Kona area and the Kahaluu Well , we knew that that <br /> part would be taken care of. <br /> The next area came in South Kohala in that <br /> region where we felt that we should, now that the roads , <br /> things should happen. The only thing that was holding us <br /> back was water. Then of course the big land owners said now <br /> these are bigger chunks and therefore they would have to be <br /> on top too. And then when things seem to be there, okay, <br /> they all seemed to be ready, but they needed water, we could <br /> not, in pure conscience, float a general obligation bond <br /> just to service a certain amount of developers. But the front <br /> end money for these people would be too much if they put up <br /> all of the moneys when we are just in the areas that are <br /> growing. It ' s not like Honolulu or Maui that are now growing <br /> very rapidly. It was kind of a frontier area, right, so we <br /> said, okay, we ' ll float the general obligation bonds but that <br /> they would pay the tab. They would pick up the tab. And with <br /> that we thought that they would generate the interest in the <br /> South Kohala area and the whole West Coast would start opening <br /> up and that development--a planned development, controlled <br /> development, by the way, so it was neverthought of any kind <br /> of which way development, but controlled development and first <br /> class development would take place. Therefore, I made the <br /> decision that I would float that bond, that general obligation <br /> bond and we called the water board to come in ,of_ course-- they <br /> always keep telling me that is the county' s problem, not the <br /> water ' s problem. It is the water board ' s problem we <br /> would have a whole slew of areas going if the'>wwater development <br /> takes place the users of water will take over all over. More <br /> people, more tax base and everything else. That is why I made <br /> the decision at that level at that time to go with the water <br /> board as a general obligation bond. <br /> -21- <br />