HomeMy WebLinkAboutCOM 0116.000 2000-2002 HanyKun dC''"''r~~ Wil11am Takaba
Mayor Ovetlor
County of Hawaii
Finance Department
25 Aupum Street, Room I IB • HJo, Herren 96720
(808)961-8234 • Fax (606)961-8248 rj
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February 9, 2001 ~ r-
T
The Honorable James Y. Arakaki, Chairman, and s
Members of the Hawaii County Council
County of Hawaii -
Hdo, Hawaii
Subject Bill for an Ordinance Authonzing the Issuance of General Obligation Bonds
Dear Chairman Arakaki and Members of the County Council:
At the February 5, 2001, Council meeting, I presented my plans for the completion of the One
Pauahi Place project, and told you that formal measures would be forthcoming for your
consideration Therefore, attached is a bill for an ordinance authorizing the issuance of $7
million in general obligation bonds of the County of Hawaii
This amount is in addition to the $8 million previously authorized for the police radio system
upgrade, and would result in a total consolidated bond float of $15 million While the One
Pauahi Place project does not require the entire $7 million, this could be an opportune time to
finance other priority projects.
To assist you in your consideration of this request, attached are two schedules. The first
shows the projected debt service (at 6%) on $15 million and $8 million in bonds (Schedule 1)
Schedule 2 shows the County's current debt service obligations for bonds, along with the debt
service increase due to the $8 million new bonds already authorized and the increase if $7
million more were authorized and issued
For funding flexibility, this bill proposes that the funds can be used for any existing authorized
capital appropriation The Public Works Department is working on obtaining firmer figures on
the additional cost for One Pauahi Place, and we expect to have these numbers before this bill
is heard at the committee level
[}I// 3/
Comm. No• 6
File No. ~ N ~~gN D
Ref. 1br ~-o V N c-lL
FEB
The Honorable James Y. Arakaki, Chairman, and
Members of the Hawaii County Council
Page 2
February 9, 2001
Please feel free to contact me if you have any questions
William T Tak a
Director of Finance
APPROVED:
Harry ICun
Mayor
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N N N~ o N o N N N O N N N N N Q
JAMES Y ARAKAKI • AARON S Y CHUNG
Charnnan d Peesulurg Oglcer LENINGRAD ELARIONOFF
.J• I JULIE JACOHSON
J CURTIS TYLER, QI BOHHY JEAN LEITHEAD-TODD
vice Chairman NANCY PISICCHIO
GARY SAFARIK
DOMINIC YAGONG
COUNTY COUNCIL
County ojHawa+'+
Hawar r County Building
25 Aupunr Srree!
Hilo, Ha~+ r 96710
February 12,2001 Re: Co>rmm. 116
James Y. Arakaki, Chazr ~ o
Hawaz`I County Council ; - T
25 Aupum Street ~ -
Hllo, Hawaz`i 96720 - ;
RE: Blll No. 31 :Bill for an Ordinance Authonzing the Issuance of Generat•
Obligation Bonds.
Pursuant to Section 1(g) of Rule 4 of the Rules of Procedure of the Councll of the County o~~.c.~
Hawaz`l, this wntten request Is submitted with my approval that the above-referenced matter De
waived from the Commlttee on Finance to the full Council for immediate action. In reviewing
this matter, timely approval ~s cruclal. It is therefore advantageous that approval is granted and
the matter placed onto the next Council agenda for review. However, in the event this request ~s
dewed, for whatever reason, I understand the matter shall be referred to the Commlttee on
Finance for placement on rts future agenda.
Sincerely,
Aaron S.Y. Chung, Chair
Committee on Finance
Appm ed/Date/WaJVe to Cotmcil• DJSappmved/Date/Refer to FC:
LarJr e . Arakala, Chazr James Y. Arakalu, Char
Haw i County Council Hawal`~ County Counci]