HomeMy WebLinkAboutBIL 043 Draft 01 2024-2026COUNTY OF HAWAFI
BILL NO. 43
I
AN ORDINANCE AMENDING ORDINANCE NO. 23-40, WHICH AMENDED ORDINANCE
NO. 22-125, WHICH AUTHORIZED THE MAYOR TO ENTER INTO AN
INTERGOVERNMENTAL AGREEMENT FOR A STATE WATER POLLUTION CONTROL
REVOLVING FUND LOAN FOR WASTEWATER PUBLIC IMPROVEMENT PROJECTS
AND AUTHORIZED THE ISSUANCE OF $17,000,000 GENERAL OBLIGATION BONDS
FOR THE PURPOSE OF FINANCING QUALIFIED WASTEWATER PUBLIC
IMPROVEMENTS OF THE COUNTY OF HAWAII.
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI`I:
SECTION 1. The title of Ordinance No. 23-40 is hereby amended to read as follows:
"AN ORDINANCE AUTHORIZING THE MAYOR OF THE COUNTY
OF HAWAI`I TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT FOR A
STATE WATER POLLUTION CONTROL REVOLVING FUND LOAN FOR
WASTEWATER PUBLIC IMPROVEMENT PROJECTS; AND AUTHORIZING THE
ISSUANCE OF [$17:,000,000] $52,000,000 GENERAL OBLIGATION BONDS OF
THE COUNTY OF HAWAN FOR THE PURPOSE OF FINANCING QUALIFIED
WASTEWATER PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAI`I'
SECTION 2. Section 1 of Ordinance No. 23-40 is hereby amended to read as follows:
"SECTION 1. Request for Loan. The County of Hawaii, pursuant to Section
342D-54, Hawai`i Revised Statutes, will be submitting an application for a State
Water Pollution Control Revolving Fund Loan (SRF Loan) to the Director of the
Department of Health, State of Hawaii, to finance the Wastewater projects listed in
"[Exhibit A Draft it Exhibit A, Draft 3".
Under the terms and conditions anticipated with regard to such SRF loan,
the County shall repay, over a term of twenty years, the principal amount, which
shall not exceed [ ], $52,000,000 at a fixed rate of interest which shall
not exceed the Bond Buyer's 20-year general obligation bond issue."
SECTION 3. Section 2 of Ordinance No. 23-40 is hereby amended to read as follows:
"SECTION 2. Authorization of Mayor. The Council hereby authorizes
the Mayor to execute all necessary intergovernmental agreements and
documents between the State of Hawaii and the County of Hawaii, relating
to the SRF to finance the Wastewater projects listed in "[Exhibit n draft 2]
Exhibit A, Draft 3."
SECTION 4. Material to be repealed is bracketed and stricken. New material is
underscored.
SECTION 5. The only changes to Ordinance 23-40 are reflected solely in the monetary
amount indicated in the Ordinance Title, Section 1, Exhibit A, Draft 2, which has been replaced
with a new exhibit labeled as Exhibit A, Draft 3, and the reference made to Exhibit A, Draft 2 in
Section 2.
SECTION 6. Severability. If any provision of this ordinance, or the application thereof
to any person or circumstance, is held invalid, such invalidity shall not affect other provisions
or applications of the ordinance which can be given effect without the invalid provision or
application, and to this end, the provisions of this ordinance are declared to be severable.
SECTION 7. Effective Date. This ordinance shall take effect upon its approval.
0 _'•�
COUNCIL MEMB
, Hawai`i
Date of Introduction:
Date of 1 st Reading:
Date of 2nd Reading:
Effective Date:
REFERENCE Comm. 225
WASTEWATER PROJECT (SRF FUNDED)
Proiec
Department of Environmental Management:
Amount
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Hilo WWTP Rehabilitation and Replacement Project Phase 1 $42,000,000
Hilo WWTP Rehabilitation and Replacement Project Phase 2 $10,000,000