HomeMy WebLinkAboutCOM 0083.000 2022-2024 3
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Lee E.Lord
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Managing Director
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Mayor Robert H.Command
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Depttty Managing Director
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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
January 20, 2023
Heather Kimball, Council Chair and -
Members of the Hawai`i County Council
Hawai`i County Council
25 Aupuni Street
Hilo, Hawaii 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 $127,500,000 in
general obligation bonds for the County of Hawaii for capital improvement projects, which
includes cost of issuance of the bonds.
These bonds would be issued for the Department of Environmental Management's wastewater
projects, including the construction costs for the Hilo Wastewater Treatment Plant. In addition,
funding would be used for repairs and maintenance for our Parks & Recreation and other County
facilities, such as the reroofing of Aupuni Center.
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$127,500,000, our debt
service percentage that includes all authorized but unissued bonds will be approximately 13.5%
based on the fiscal year 2023 budget. Our debt service percentage based on issued debt is 7.6%.
This percentage is within our GFOA guideline that debt service expenditures should be below
15% of total expenditures each year.
If there are any questions, please do not hesitate to call Deanna Sako at 961-8234.
Mitchell D. Roth
Mayor
Attachment Comm. No.
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Ref. at ; -5202:3
County of Hawaii is an Equal Opportunity Provider and Employer.
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Exhibit A
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Projects to be Completed
Construction of Hilo Wastewater Treatment Plant and other facilities $100,000,000
Public Works Repairs and Maintenance 7,750,000
Aupuni Center Roof
Emergency Communication Center
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Parks and Recreation Repairs and Maintenance 15,000,000
ADA Compliance
Papa`aloa State Match
Sewer Pipe Replacement (KilauealKeawe Street) 2,000,000
Animal Control 2,000,000
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Bond Issuance Costs 750,000
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County of Hawai'i is an Equal Opportunity Provider and Employer.
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