HomeMy WebLinkAboutRES 252 Draft 01 2024-2026A RESOLUTION ADOPTING USDA FORM RESOLUTION 1780-27 TO PROVIDE FOR A LOAN FROM THE UNITED STATES OF AMERICA, DEPARTMENT OF AGRICULTURE, TO FINANCE CERTAIN PUBLIC WATER SYSTEM IMPROVEMENTS
FOR IKI PLACE, KOHANAIKI HOMESTEADS, NORTH KONA, HAWAI‘I; AUTHORIZING THE EXECUTION OF AN AGREEMENT WITH THE UNITED STATES OF AMERICA, DEPARTMENT OF AGRICULTURE, FOR A GRANT FOR COSTS
OF SUCH PUBLIC WATER SYSTEM IMPROVEMENTS; AND AUTHORIZING THE MAYOR, THE MANAGER-CHIEF ENGINEER OF THE DEPARTMENT OF WATER SUPPLY, THE DIRECTOR OF FINANCE, AND THE CHAIR OF THE COUNTY
COUNCIL TO TAKE ALL ACTIONS NECESSARY TO FACILITATE SUCH LOAN AND GRANT.
WHEREAS, the County of Hawai‘i proposes to issue its general obligation bonds to evidence its repayment obligations for a loan to be obtained from the United States of America, acting
by and through the United States Department of Agriculture, Rural Development, on behalf of the Rural Utilities Service (hereinafter “USDA”), in an amount not to exceed TWO HUNDRED
SEVENTY-FIVE THOUSAND AND N0/100 DOLLARS ($275,000.00), to fund a portion of the costs of certain public water system improvements (hereinafter “the Project”) for the Iki Place, Kohanaiki
Homesteads, North Kona, Hawai‘i; and
WHEREAS, in connection with such loan, USDA has offered a grant to fund costs of the Project in an amount not to exceed EIGHT HUNDRED TWENTY-FIVE THOUSAND AND N0/100 DOLLARS ($825,000.00);
and
WHEREAS, USDA requires, as part of the loan, grant, and bond closing process for the Project, that a USDA Loan Resolution, in the form of RUS Bulletin 1780-27, or similar resolution,
be adopted, and that certain other documents be executed and actions be taken; and
WHEREAS, Section 46-7 of the Hawai‘i Revised Statutes requires the consent of the Council in order for the County to enter into an agreement with the federal government or any other
public body respecting action to be taken pursuant to any of the powers granted to the County by law and furnish, expend, and receive any funds or other assistance in connection with
projects being or to be undertaken pursuant to those powers; now, therefore,
BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAI‘I that this body hereby adopts the USDA Loan Resolution, attached hereto as Exhibit A and incorporated herein by reference, including
the Certification To Be Executed At Loan Closing.
BE IT FURTHER RESOLVED that, pursuant to section 46-7 of the Hawai‘i Revised Statutes, the Mayor is hereby authorized to enter into a grant agreement with USDA for a grant in
the amount no more than $825,000.00 to be applied to the costs of the Project and is further authorized to sign the above-referenced agreement and any related documents.
BE IT FURTHER RESOLVED that the Mayor, the Manager-Chief Engineer of the Department of Water Supply, the Director of Finance, and the Chair of the Council of the County of Hawai‘i are
hereby authorized and empowered to take all actions necessary or appropriate in the execution of all written instruments as may be requested or required to facilitate the loan and grant
and the terms of the agreements therefor, the provisions of which shall be incorporated upon such execution.
BE IT FINALLY RESOLVED that the County Clerk shall transmit a copy of this resolution to the Honorable C. Kimo Alameda, Mayor of the County of Hawai‘i; Diane T. Nakagawa, Director of
Finance; Renee N. C. Schoen, Corporation Counsel; Keith K. Okamoto, Manager-Chief Engineer of the Department of Water Supply; Lisa Miura, Administrator, Real Property Tax Division,
Department of Finance; Bryan Anguiano, Acting Director, Hawai‘i and Western Pacific Rural Development State Office, United States Department of Agriculture, 154 Waiānuenue Avenue, Suite
311, Hilo, Hawai‘i 96720; and Brian T. Hirai, Bond Counsel, McCorriston Miller Mukai MacKinnon LLP.
Dated at _____________, Hawai‘i, this ______ day of ___________________, 20___.
INTRODUCED BY:
_______________________________________
COUNCIL MEMBER, COUNTY OF HAWAI‘I