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. V Of h..... <br /> Lee E.Lord <br /> Managing Director <br /> n e <br /> Mitchell D.Roth ; +'�i�` ;i«'�1 :•1- <br /> -_ , <br /> Mayor _ <br /> �- Robert H.Command <br /> ;tfr NM�%'- Deputy Managing Director <br /> EOf M�' - <br /> CIiiuuf f4thnt <br /> Office of*4giapt <br /> 25 Aupuni Street,Suite 2603 • Hilo,Hawaii 96720 • (808)961-8211 • Fax(808)961-6553 <br /> KONA: 74-5044 Ane Keohokalole Hwy.,Bldg C • Kailua-Kona, Hawaii 96740 <br /> (808)323-4444 • Fax(808)323-4440 , CD <br /> February 17, 2022 -�-+ r <br /> r <br /> Maile Medeiros David, Council Chair and <br /> Members of the Hawai`i County Council <br /> Hawai i County Council <br /> 25 Aupuni Street •• x <br /> Hilo, Hawai`i 96720 -- <br /> Re: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds <br /> Attached for your consideration is a bill authorizing the issuance of up to $139,500,000 in <br /> general obligation bonds for the County of Hawai`i for capital improvement projects, which <br /> includes the cost of issuance of the bonds. <br /> These bonds would be issued for the Department of Environmental Management's wastewater <br /> projects, including the design and some of the construction costs for the Hilo Wastewater <br /> Treatment Plant, and the County's match for the WIFIA loan. In addition, funding would be <br /> used for repairs and maintenance of our Parks & Recreation and other County facilities, <br /> including the acquisition and maintenance of animal shelters and various Housing projects. <br /> Our County's debt service capacity has been reviewed to ensure we have the capacity to issue <br /> additional bonds up to the requested amount. With this authorization of$139,500,000 our debt <br /> service percentage that includes all authorized but unissued bonds will be approximately 14.6% <br /> based on the fiscal year 2022 budget. Our debt service percentage based on issued debt is 8.9%. <br /> This percentage is within our GFOA guideline that debt service expenditures should be below <br /> 15% of total expenditures each year. <br /> To expedite the wastewater projects, we request that this bill be waived from the Finance <br /> Committee and be placed on the March 9, 2022, Council agenda due to the time sensitive nature <br /> of this matter. If there are any questions, please do not hesitate to call Deanna Sako at 961-8234. <br /> With Aloha, <br /> Mitchell D. Roth <br /> Mayor <br /> Attachment <br /> 4?'.;1 Comm. NQ. `Q . <br /> Ref. To: <br /> County of Hawaii is an Equal Opportunity Provider and Employer. Ref. Dote FEB9- ia G 2 2022 <br />