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Lee E.Lord
Managing Director
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Mitchell D.Roth ; +'�i�` ;i«'�1 :•1-
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Office of*4giapt
25 Aupuni Street,Suite 2603 • Hilo,Hawaii 96720 • (808)961-8211 • Fax(808)961-6553
KONA: 74-5044 Ane Keohokalole Hwy.,Bldg C • Kailua-Kona, Hawaii 96740
(808)323-4444 • Fax(808)323-4440 , CD
February 17, 2022 -�-+ r
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Maile Medeiros David, Council Chair and
Members of the Hawai`i County Council
Hawai i County Council
25 Aupuni Street •• x
Hilo, Hawai`i 96720 --
Re: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds
Attached for your consideration is a bill authorizing the issuance of up to $139,500,000 in
general obligation bonds for the County of Hawai`i for capital improvement projects, which
includes the cost of issuance of the bonds.
These bonds would be issued for the Department of Environmental Management's wastewater
projects, including the design and some of the construction costs for the Hilo Wastewater
Treatment Plant, and the County's match for the WIFIA loan. In addition, funding would be
used for repairs and maintenance of our Parks & Recreation and other County facilities,
including the acquisition and maintenance of animal shelters and various Housing projects.
Our County's debt service capacity has been reviewed to ensure we have the capacity to issue
additional bonds up to the requested amount. With this authorization of$139,500,000 our debt
service percentage that includes all authorized but unissued bonds will be approximately 14.6%
based on the fiscal year 2022 budget. Our debt service percentage based on issued debt is 8.9%.
This percentage is within our GFOA guideline that debt service expenditures should be below
15% of total expenditures each year.
To expedite the wastewater projects, we request that this bill be waived from the Finance
Committee and be placed on the March 9, 2022, Council agenda due to the time sensitive nature
of this matter. If there are any questions, please do not hesitate to call Deanna Sako at 961-8234.
With Aloha,
Mitchell D. Roth
Mayor
Attachment
4?'.;1 Comm. NQ. `Q .
Ref. To:
County of Hawaii is an Equal Opportunity Provider and Employer. Ref. Dote FEB9- ia G 2 2022
Exhibit A
Projects to be Completed
Wastewater:
Design for Hilo Wastewater Treatment Plant $12,000,000
WIFIA Loan Match 25,500,000
Construction and emergency measures 62,500,000
Public Works Repairs and Maintenance 10,000,000
Parks and Recreation Repairs and Maintenance 13,000,000
Housing Repairs and Maintenance 10,000,000
Animal Control Facilities and Maintenance 2,500,000
Solid Waste Repairs and Maintenance 3,000,000
Bond Issuance Costs 1,000,000
County of Hawai'i is an Equal Opportunity Provider and Employer.
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