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Home My WebLink AboutCOM 0426.000 2024-2026C. Kimo Alameda, Ph.D. Mayor William V. Brilhante Jr. Managing Director County of Hawaii Finance Department 25 Aupuni Street, Suite 2103 • Hilo, Hawaii 96720. (808)961-8234 • Fax (808) 961-8569 July 22, 2025 Diane Nakagawa Director Malia A. Kekai Deputy Director � n 0 G � The Honorable Holeka Goro Inaba, Chairman-i And Members of the Council _ County of Hawaii . 25 Aupuni Street'-:; Hilo, Hawaii 96720 w Dear Chairman Inaba: Pursuant to the provisions of Chapter 47C, Hawaii Revised Statutes, I enclose for filing the tabular summary of the net funded debt of the County of Hawaii as of June 30, 2025. Concurrence by the Chairman of the Finance Committee and the Corporation Counsel are attached. Very truly yours, yg� Diane NaWawa Director of Finance Encls. Comm. No. Ref. To: Hawaii County is an Equal Opportunity Employer and Providekef. bate AIG — 1 2025 C. Kimo Alameda, Ph.D. Mayor William V. Brilhante Jr. Managing Director County of Hawaii Finance Department 25 Aupuni Street, Suite 2103 • Hilo, Hawaii 96720 (808) 961-8234 • Fax (808) 961-8569 July, 22, 2025 Councilmember Matt Kaneali`i-Kleinfelder Chair, Committee on Finance Hawaii County Council 25 Aupuni Street Hilo, Hawaii 96720 Diane Nakagawa Director Pursuant to the provisions of Chapter 47C, Hawaii Revised Statutes, I submit for your review and concurrence a tabular summary (with supporting schedules) of the net funded debt of the County of Hawaii as of June 30, 2025. Malia A. Kekai Deputy Director The attached tabular summary requires concurrence from both the Chairperson 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 therefore. After receiving your responses, I shall 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 alg"_ Diane NakQawa Director of Finance Encl. concur o not concur with the tabular summary of the net funded debt of the County of 1 as of June 30, 2025. Reasons for non -concurrence.: Date: T47 V e.S y�(' rman, Finance Committee 0 County Council, County of Hawaii Hawaii County is an Equal Opportunity Employer and Provider C. Kimo Alameda, Ph.D. Mayor William V. Brilhante Jr. Managing Director County of Hawaii Finance Department 25 Aupuni Street, Suite 2103 • Hilo, Hawai"i 96720 (808) 961-8234 • Fax (808) 961-8569 July 22, 2025 Ms. Renee Schoen Corporation Counsel County of Hawaii 101 Aupuni Street, Unit 325 Hilo, Hawaii 96720 Diane Nakagawa Director Malia A. Kekai Deputy Director Pursuant to the provisions of Chapter 47C, Hawaii Revised Statutes, I submit for your review and concurrence a tabular summary (with supporting schedules) of the net funded debt of the County of Hawaii as of June 30, 2025. The attached tabular summary requires concurrence from both the Chairperson 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 therefore. After receiving your responses, I shall 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. 6t 4r-- - Diane Nak wa Director of Finance Encl. I 6ncu not concur with the tabular summary of the net funded debt of the County of Hawaii as of June 30, 2025. Reasons for non -concurrence: Date: Corporation C unsel County of Hawaii Hawaii County is an Equal Opportunity Employer and Provider COUNTY OF HAWAII Statement of Funded Debt June 30, 2025 1. Total Principal Amount of County Debt Outstanding and Unpaid: a. County General Obligation Bonds $ 538,160,647 (Schedule A) b. State Revolving Fund Loans $ 51,359,959 (Schedule B) C. Revenue Bonds $ 13,055,000 (Schedule C) Grand Total of Debt Outstanding & Unpaid 2. Exclusions from Grand Total: a. General Obligation Bonds maturing $ 33,671,629 in fiscal year 2025-2026 (Schedule A) b. State Revolving Fund principal maturing $ 4,571,092 in fiscal year 2025-2026 (Schedule B) C. Revenue Bonds $ 13,055,000 Secured by Pledge of Special CFD Taxes (Schedule C) d. General Obligation Bonds $ 10,206,802 Reimbursable by the County Department of Water Supply (Schedule D) e. General Obligation Bonds $ 3,333,401 Reimbursable by ID#18, ID#19 & ID#20 property owners (Schedule E) Total, Exclusions Net Funded Debt of the County of Hawaii June 30, 2025 $ 602,575,606 $ 64,837,924 $ 537,737,682 SUPPORTING SCHEDULES Statement of Funded Debt as of June 30, 2025 (Based on Records in Finance Department) Schedule A County General Obligation Bonds/Notes Date of Issue Principal Amount Outstanding Original PAR June 30, 2025 April 28, 2008 $ 147,000 $ 103,138 September 19, 2013 1,169,000 928,547 February 18, 2016 235,765,000 126,040,000 July 6, 2017 139,895,000 99,415,000 September 29, 2020 A 2,437,000 2,257,000 September 29, 2020 B 3,699,000 3,426,000 November 4, 2020 77,135,000 63,795,000 June 23, 2022 4,105,000 4,015,962 June 21, 2023 99,000,000 96,040,000 May 7, 2025 142,140,000 142,140,000 Total County General Obligation Bonds Schedule B State Revolving._Fu.nd .Loans: $ 705,492,000 HI Cty Cesspool Conversion Queen Liliuokalani LCC Repl Honokaa LCC Repl Kalanianaole AISR-Phase II Kealakehe WTPAUSRP North Kona Sewer and Effluent Reuse Kealakehe WTP R-1 Upgrade South Hilo Sanitary Landfill Final Closure Kealakehe Scrap Metal Yard Remediation Lanihau WW Pump Station Force Main Hilo WWTP Rehabilitation Phase I Hilo WWTP Rehabilitation Phase II $ 538,160,647 Principal Amount Outstanding $ 682,458 2,552,677 1,229,623 2,982,287 8,896,156 1,130,361 1,307,083 19,384,178 6,502,675 898,677 1,137,223 4,656,561 General Obligation Bonds Maturing in FY 2025-2026 $ 3,980 27,830 19,240,000 7,210,000 61,000 93,000 3,835,000 90,819 3,110,000 $ 33,671,629 Principal Maturing in FY 2025-2026 $ 454,597 505,634 186,591 366,372 879,756 83,099 90,880 1,250,332 418,970 51,073 58,581 225,207 $ 51,359,959 $ 4,571,092 SUPPORTING SCHEDULES Statement of Funded Debt as of June 30, 2025 (Based on Records in Finance Department) RrhPrli d,= C'. Community Facilities District No. 1-2021 (Kaloko Heights Project) Special Tax Revenue Bonds Date of Issue March 2, 2023 Total County Revenue Bonds Principal Amount Outstanding June 30, 2025 13,055,000 $ 13,055,000 Revenue Bonds Maturing in FY 2025-2026 SUPPORTING SCHEDULES Statement of Funded Debt as of June 30, 2025 (Based on Records in Finance Department) Schedule D General Obligation Bonds Reimbursable by the County Department of Water Supply: April 28, 2008 $ 103,138 February 18, 2016 $ 6,703,750 November 4, 2020 $ 2,078,750 June 23, 2022 $ 4,,015,962 12,901,600 Less Amount Already Excluded in item 2a (2,694,798) $ 10,206,802 Schedule E Principal Amount Outstanding General Obligation Bonds Reimbursable by ID#18 Kona Coastview & Wonderview Subdivision lot owners. $ 347,188 Less Amount Already Excluded in item 2a (110,504) 236,684 Public Improvement Bonds Reimbursable by ID#19 Kona Ocean View Properties Subdivision lot owners. 928,547 Less Amount Already Excluded in item 2a (27,830) 900,717 Public Improvement Bonds Reimbursable by ID#20 L' ono Kona Subdivision lot owners. 2,257,000 Less Amount Already Excluded in item 2a (61,000) 2,196,000 Total Reimbursable by Improvement Districts $ 3,333,401