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Harry Kim <br />Mayor <br />August 13, 2020 <br />County of Hawaii <br />Finance Department <br />25 Aupuni Street, Suite 2103 • Hilo, Hawaii 96720 <br />(808) 961-8234 • Fax (808) 961-8569 <br />Aaron Chung, Council Chair and <br />Members of the Hawaii County Council <br />Hawaii County Council <br />25 Aupuhi Street <br />Hilo, Hawaii 96720 <br />Deanna S. Sako <br />Director <br />Steven A. Hunt <br />Deputy Director <br />Re: Bill for an Ordinance authorizing the Issuance of General Obligation Refunding Bonds <br />Attached for your consideration is a bill for an ordinance authorizing the issuance of general obligation <br />refunding bonds, not to exceed $356,975,000 for the purpose of refinancing outstanding County debt in <br />the form of bonds that were issued at higher interest rates. <br />We will be issuing bonds in the coming months and continue to monitor outstanding bonds to determine <br />if any savings can be realized by refunding. <br />In order to meet our scheduled bond sale date and take advantage of anticipated favorable sales <br />conditions in October 2020, we are requesting that this bill be waived from the Finance Committee and <br />be placed on the September 2, 2020 Council agenda. Additionally, due to this impending and critical <br />deadline, we request that Council waive its five-day reconsideration period and process the bill <br />immediately upon approval. <br />If you have any questions, please feel free to contact Chris Nakano at 933-6240, or me at 961-8234. <br />Deanna S. Sako <br />Director of Finance <br />APPROVED <br />1017 <br />Harry Kim <br />Mayor <br />Enc. <br /><'b-ok kc�%) <br />Comm. No.. q% <br />Ref. To: I vt_ <br />Ref. DoteAUG 1 7 2020 <br />Hawaii County is an Equal Opportunity Employer and Provider <br />