HomeMy WebLinkAboutBIL 043 Draft 01 2024-2026AN 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 HAWAI‘I.
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 HAWAI‘I 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 Hawai‘i, 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 Hawai‘i, to finance the Wastewater projects listed in “[Exhibit A, Draft 2] 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 [$17,000,000],
$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 Hawai‘i and the
County of Hawai‘i, relating to the SRF to finance the Wastewater projects listed in “[Exhibit A, 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 Material to be repealed is bracketed and stricken.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.
INTRODUCED BY:
________________________________________
COUNCIL MEMBER, COUNTY OF HAWAI‘I
_______________, Hawai‘i
Date of Introduction:
Date of 1st Reading:
Date of 2nd Reading:
Effective Date:
[EXHIBIT A, DRAFT 2] EXHIBIT A, DRAFT 3
WASTEWATER PROJECT (SRF FUNDED)
Project Amount
Department of Environmental Management:
[Hilo WWTP Upgrades $17,000,000]
[Hilo WWTP Rehabilitation and Replacement Project Phase 1 $7,000,000]
Hilo WWTP Rehabilitation and Replacement Project Phase 1 $42,000,000
Hilo WWTP Rehabilitation and Replacement Project Phase 2 $10,000,000