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Home My WebLink AboutCOM 0154.002 1996-1998 JNIV Or H,~ 4~' ~ry 7 r~~ AJ~~~G. Stephen K. Yamashiro •T Harry A. Takahashi Mayor Direcror "r ~1 ^'•r`~ ~ S.K. Schulte ~[F aF~N% - Depufy .t C~nutc#~r n~ ~ttfutti't ~ _ ~ DEPARTMENT OF FINA~C~, , . 25 Aupuni Sttece, Room 118 Hilo, Hawuii 96720-4252 (RO8) 961-8234 Fax (808) 961-8248 May 12, 1998 The Honorable James Y. Arakaki, Chairman and Members of the Council County of Hawaii 25 Aupuni Street Hilo, Hawaii 96720 Dear Chairman Arakaki: In accordance with Section 47C-3, Hawaii Revised Statutes, I certify that the enclosed supplemental summarv of indebtedness of the County of Hawaii as of May O1, 1998 is correct. The closing of the $775,600 Bond Issue to the United States Department of Agriculture for the Department of Water Supply for improvements to the Ookala, Paauilo, and Paauhau water systems is scheduled to take place on May 20, 1998, requires preparation 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, Q~.~ ephen K amashiro Mayor Encls. rn~ na..____ ~ ' r'~_ ~~_iMAY 13 1998 oHVV,or New o~'•, • ~~d~i;,~, i Stephen K. Yamashiro Harry A. Takahashi Mayor Director +r~rF,~',.;t~'p` S.K. Schulte ..._oi N~J~ Deputy tLIllttt~~1 II~ ~tC~ll2ltt DEPARTMENT OF FINANCE 25 Aupuni Street, Room lL8 Hilo, Hawaii 96720-4252 May 04 , 1998 tenet 96t-szsa Aax tsos) get-azaa Mr. Richard Wurdeman Corporation Counsel County of Hawaii 25 Aupuni Street Hilo, Hawaii 96720 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 May O1, 1998 is submitted for your review and concurrence. The closing of the $775,600 Bond Issue to the United States Department of Agriculture for the Department of Water Supply for improvements to the Ookala, Paauilo, and Paauhau water systems is scheduled to take place on May 20, 1998. 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, please indicate the item of disagreement and your reasons therefor. After receiving your responses, I 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. Please call me if you have any questions. Harry A. Takahashi Director of Finance Encl. I oncu /do not concur with the tabular summary of the net funded de th Cou ty of Hawaii as of May 1, 1998. Rea ns non concurrence, if any: rporation Counsel County of Hawaii Date:./i~~~ f / ~O JMtY OF „qw 40•' Stephen K. Yamashiro ' " Harry A. Takahashi Mayor a•••e.. Direcmr :r S.K. Schutte 1TE OF H~~ Depufg ~nuttf~r of ~tt~utttt DEPARTMENT OF FINANCE May 04 , 19 9 8 25 Aupuui Street, Room I lA Hilo, Hawaii 96720-4252 (808) 961-8234 Fax (BOR) 961-8248 Mr. Aaron S.Y. Chung Chairman, Finance Committee County Council County of Hawaii Hilo, Hawaii 96720 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 May O1, 1998 is submitted for your review and concurrence. The closing of the $775,600 Bond Issue to the United States Department of Agriculture for the Department of Water Supply for improvements to the Ookala, Paauilo, and Paauhau water systems is scheduled to take place on May 20, 1998. 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, please indicate the item of disagreement and your reasons therefor. After receiving your responses, I 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. Please call me if you have any questions. `~-F ~ Harry A. Takahashi Director of Finance Encl. I concur-/ o not concur with the tabular summary of the net funded debt of.~he County of Hawaii as of May O1, 1998. R ns for non-concurren e, if any: f " ~ Chairman, Finance Co it ee County Cou//4cil, hCounty Hawaii Date COUNTY OF HAWAII Statement of Funded Debt May 1, 1998 1. Total Principal Amount of County Bonds Outstanding and Unpaid: a. County General Obligation Bonds $167,314,500 (Schedule A) b. Special Assessment Bonds 12,255,000 (Schedule B) c. Other Indebtedness 1,161,939 (Schedule C) d. State Revolving Fund Loans 29,139,081 (Schedule D) Grand Total of Bonds Outstanding and Unpaid $209,870,520 2. Exclusions from Grand Total: a. General Obligation Bonds maturing $ 1,638,000 in current fiscal year (Schedule A) b. General Obligation Bonds for 32,515,000 which full payment in moneys or securities have been irrevocably set aside (Schedule A) c. Special Assessment Bonds 12,255,000 (Schedule B) d. State Revolving Fund principal 133,677 maturing in current fiscal year (Schedule D) e. General Obligation Bonds 12,667,000 Reimbursable by the County Department of Water Supply (Schedule E) f. Pro Rata Share of 1978 8,255,720 Refunding Bonds for which funds are deposited in Invested Sinking Fund (Schedule F) Total Exclusions $ 67 464 397 Net Funded Debt of the County of Hawaii $~42 406.123 at May O1, 1998 SUPPORTING SCHEDULES Statement of Funded Debt as of May 1, 1998 (Based on Records in Finance Department) Schedule A County General Obligation Bonds: Principal Amount General Obligation Outstanding Bonds Maturing in Mav 1, 1998 Current FY a. Advance-refunded bonds for which full payment irrevocably set aside: June 1, 1989 8,225,000 410,000 June 1, 1990 24,290.000 1,205,000 Sub-Total $32,515,000 $ 1,615,000 b. Other General Obligation Bonds: June 15, 1977 309,000 May 15, 1978 21,695,000 1,620,000 June 1, 1981 560,000 18,000 December 1, 1989 5,500,000 May 1, 1993 72,025,000 February 1, 1996 30,000,000 March 12, 1996 736,500 February 25, 1997 3,974,000 Sub-Total $134.799,500 $1.638,000 Total County General Obligation Bonds 167.314.500 3,253,000 Schedule B Special Assessment Bonds: Principal Amount Outstanding 8/01/91 Kaloko Subdivision (17) 12.255.000 Schedule C Other Indebtedness: Principal Amount Outstanding Kulaimano Elderly Housing Project Mortgage (FmHA) $ 1.161.939 Schedule D State Revolving Fund Loans: Principal Amount Principal Maturing Outstanding In Current FY Hilo WWTP Phase II $10,227,383 $ Waiakea Houselot Sewer 370,693 Waiakea Mill Pond Sewer 1,152,560 50,967 Kealakehe Effluent Disposal 1,095,322 Alii Drive Interceptor A & B 2,517,648 Ainako Interceptor A & B 1,924,631 Alii Drive Interceptor C & D 3,217,478 Kalanianaole Collector Sewer 1,401,728 Waiaha Bay SPS 3,032,979 Alii Drive Interceptor E & F 1,396,413 Holualoa Sewage Pump Station 2,802,246 82,710 $ 29.139.081 133.677 Schedule E General Obligation Bonds Reimbursable by the County Department of Water Supply: June 1, 1981 $ 560,000 December 1, 1989 (Refunding) 3,250,000 May 1, 1993 8,875,000 Less: Amount already excluded ( 18,000) 12.667.000 Schedule 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 2,382.801 Sinking Fund amount set aside for payment of Refunding Bonds $13,569,414 Maximum Aggregate Sinking Fund requirement $11,186,613 Lesser of current Sinking Fund amount or Maximum Aggregate Sinking Fund requirement ~>>.~86.613 Pro Rata Basis (Principal Outstanding of $21,695,000/Principal Outstanding plus Interest to Maturity of $7,703,826.00 73.80% Amount excluded $ 8,255,720