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Home My WebLink AboutCOM 0154.000 1996-1998 x+ os y QJ~... .'!<iL~. 4~ ~ Stephen K. yemashiro Harry A, Takahashi Mayor + Director •~oi r~^" (~aixixfv of clttfutlit DEPARTMENT OF FINANCE 25 Aupunt Street, Room IIB Hilo, Hawaii 96729-4252 T [8981 991-8239 Fex [8981 991-9298 r'~ ' C-% F.: ~~.bruary Y3, 1997 c: ~ ~ F-• L7 The Honora'~te James Y. Arakaki, Chairman and Members of the Council County of Hawaii 25 Aupuni Street Hilo, Hawaii 96720 Dear Chairman Arakaki: ?ii .:^cordance with Section 47C-3, Hawaii Revised Statutes, I certify that ti,P enclosed s__Upple:nental summary of indebtedness of the County of Hawaii as of Februar; 11, 1997 is correct. The closing of the $4,000,0'10 Bond Issue to the United States Department of Agriculture for the a~.;~lisition of the J.C. Penney's facility at the Kaiko'o .4011 is :c:.~n~led to take place about February 25, 1997, requires ,_a,~aration of this report. Concurrence to the supplemental summary of the Chairman of the Finance Committee and the Corporation Counsel are also attached. Very truly yours, .ephen K. Yamashiro M~ yor Encls. 09ui~ lTa ' ~u. x.. N~ iri. Yoe ~rrn FEB 1 4 tgg/ - r~r or p ~J 4•'L1 4 4~• Stephen K. Yemaahiro ~ - Harry q, Takaheahi Mayor ~ y°:, Oirec tar N'~ •F O (~auuf~r of ~uiu~ii DEPARTMENT OF FINANCE 25 Aupuni Street. Room IIB Hilo, Heveti 98720-4252 [999] 981-8234 Fe: (8991 981-9248 February 11, 1997 Mr. Aaron S.Y. Chung Chairman, ~~nance Committee ~'onnty Ccl.~..ci i C~~~.~ty of Hawaii silo, Hawaii 96120 Section 47C-3, Hawaii Revised Statutes, requires that a supplemental summary of the indebtedness of the County be prepared as of a date within 30 days of the delivery of a new bond issue. The enclosed summary as of February 11, 1997 is submitted for your review and concurrence. The closing of the $4,000,000 Bond Issue to the United States Department of Agriculture for the acquisition of the J.C. Penny's facility at the Kaiko'o Mall is scheduled to take place on FEaruary 25, 1997. :he attached tabular summary requires concurrences from both the Chairma., of the Finance Committee and the Corporation Counsel. If you concur with this summary, please sign and return the original of this letter and keep the copy for your files. If you disagree with any ite~•, 1.'_ease indicate the item of disagreement and your reasons :.h~refor. tif~er receiving your responses, I must transmit the ~~~~~~~~ary and your responses to the County Council for its action. Thank you very much for your prompt attention to this matter. Please call me if you have any questions. He.rry A. akahashi D rector f Finance El.cl. I concur/a- ^~z:~-~.=.~r with the tabular summary of the net funded debt of she County of Hawaii as of February 11, 1997. Rea sr~f-~cr~n-concurrence, if any: ~~i ~ 1 ~_''E^ ~ . <'h~irman, ~inance Cc ittee ::aunty Counci1l, Coun y of Hawaii Date: ~~>>1~~ r~. o y` o. ....,.he i,i:~ 5[ephen K. Yamachiro _ - Herry A. Takahashi Ma or Director Y uai:~ ~1.IIlITLfU II~ ~MfIT~iT DEPARTMENT OF FINANCE 25 Aupuni Straet, Room 110 Hilo, Hawaii 90720-4252 (0007 901-0234 Fa: (0001 981-0240 February 11, 1997 Mr. Richard Wurdeman Corporation Counsel County of Hawaii 25 Aupuni Street Hilo, Hawaii 96720 Section 47C-3, Hawaii Revised Statutes, requires that a supplemental sum,nary of the indebtedness of the County be prepared as of a date within 30 days of the delivery of a new bond issue. The enclosed summary as of February 11, 1997 is submitted for your review and concurrence. The closing of the $4,000,000 Bond Issue to the United States Department of Agriculture for the acquisition of the J.C. ?enny's facility at the Kaiko'o Mall is scheduled to take place on February 25, 1997. The attached tabular summary requires concurrences from both the Chairman of the Finance Committee and the Corporation Counsel. If you concur with this summary, please sign and return the original of this letter and keep the copy for your files. If you disagree with any item, ulease indicate the item of disagreement and your reasons therefor. After receiving your responses, 2 must transmit the summary and your responses to the County Council for its action. Thank you very much for your prompt attention to this matter. P: ease call me if you((have any questions. Harry A. akahashi Directo~~ pi Finance ~l t_ ~ I on /do not concur with the tabular summary of the net funded de o he ounty o Ha ii as of February 11, 1997. Reaso or on- ur ce, if any: Co oration Counsel County of I?awaii Date: ~ Z FL~0P~~' COUNTY OF HAWAII Statement of Funded Debt February 11, 1997 1. Total Principal Amount of County Bonds Outstanding and Unpaid: a. County General Obligation Bonds $173,736,000 (Schedule A) b. Special Assessment Bonds 12,670,000 (Schedule B) c. Other Indebtedness 1,176,600 (Sc~~dule C) 3. State Revolving Fund Loans 26,240,634 (Schedule D) Grand Total of Bonds Outstanding and Unpaid $213,823.234 2. Exclusions from Grand Total: a. General Obligation Bonds maturing $ 4,607,000 in current fiscal year (Schedule A) b. General Obligation Bonds for 34,310,000 which full payment in moneys or securities have been irrevocably set aside (Schedule A) c. Spe~~al Assessment Bonds 12,670,000 (Schedule B) d. State Revolving Fund principal 88,655 maturing in current fiscal year (Schedule D) e. General Obligation Bonds 13,527,500 Reimbursable by the County Department of Water Supply (Schedule E) f. Pro Rata Share of 1978 8,026',395 Refunding Bonds for which funds are deposited in Invested Sinking Fund (Schedule F) Total Exclusions $ 73 229 550 Net Funded Debt of the County of Hawaii $140.593.684 at February 11, 1997 SUPPORTING SCHEDULES Statement of Funded Debt as of February 11, 1997 (Based on Records in Finance Department) Schedule A County General Obligation Bonds: Principal Amount General Obligation Outstanding Bonds Maturing in Feb 11. 1997 Current FY a. Advance-refunded bonds for which full payment irrevocably set aside: August 1, 1977 275,000 June 1, 1989 8,610,000 385,000 June 1, 1990 25,425.000 1,135,000 Sub-Total $34 310,000 $ 1 520 000 b. Other General Obligation Bonds: June 15, 1977 324,000 May 15, 1978 23,215,000 1,520,000 June 1, 1981 577,000 17,000 December 1, 1989 6,405,000 May 1, 1993 78,240,000 3,045,000 February 1, 1996 30,000,000 March 12, 1996 665,000 25,000 Sub-Total $139 426,000 $4 607,000 Total County General Obligation Bonds $173,736.000 ~ 6,127.000 Schedule B Special Assessment Bonds: Principal Amount Outstanding 8/01/91 Kaloko Subdivision (17) 12.670.000 :,chedule C. Other Indebtedness: Principal Amount Outstanding Kulaimano Elderly Housing Project Mortgage (FmHA) 1.176.600 Schedule D State Revolving Fund Loans: Principal Amount Principal Maturing Outstanding In Current FY Hilo WWTP Phase II $10,783,818 $ Waiakea Houselot Sewer 390,861 Waiakea Mill Pond Sewer 1,235,211 49,244 Kealakehe Effluent Disposal 1,150,461 Alii Drive Interceptor A & B 2,340,876 Ainako Interceptor A & B 1,777,155 Alii Drive Interceptor C & D 3,283,425 Kalanianaole Collector Sewer 1,412,325 Waiaha Hay SPS 2,671,660 Alii Drive Interceptor E & F 1 194.842 39 411 26.240.634 ~ 88.655 Schedule E General Obligation Bonds Reimbursable by the County Department of Water Supply: June 1, 1981 $ 577,000 December 1, 1989 (Refunding) 3,702,500 May 1, 1993 9,640,000 Less: Amount already excluded (392.000) $1't, 27.500 ~hg~iule F Pro Rata Share of 1978 Refunding Bonds for which funds are deposited in Invested Sinking Fund: Principal Amount of Securities held in Sinking Fund $11,186,613 Interest Earnings to be realized by County on Securities in Sinking Fund 1.477,297 Sinking Fund amount set aside for payment of Refunding Bonds $12,663,910 Maximum Aggregate Sinking Fund requirement $11,186,613 Lesser of current Sinking Fund amount or Maximum Aggregate Sinking Fund requirement X11.186.613 Pro Rata Hasis (Principal Outstanding of $23,215,000/Principal Outstanding plus Interest to Maturity of $9,142,473.75 71.75°s Amount excluded $ 8,026,395 Less: Amount already excluded -0- 8.026.395