HomeMy WebLinkAboutCOM 0626.000 2000-2002 J~qV Gs k4ly
Harry Kim ,J~i~~ William Takaba
Mayor Director
~ Nanc Crawford
Pram oR NR''p6', De Director
County of Hav~aii
Finance Department
25 Aupuni Street, Room 118 • Hilo, Hawaii 96720
(808)961-8234 • Fax (808)961-8248
May 1, 2002
Honorable James Arakaki, Chairperson and
Members of the County Council
Hawaii County Council
25 Aupuni Street
Hilo, Hawaii 96720
Re: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds
Enclosed is a bill for an ordinance authorizing the issuance and sale of General Obligation
Bonds of the County of Hawaii, in the principal amount of $259,200 for the Department of
Water Supply's Happy Homes Subdivision waterline replacement project in Puna, Hawaii.
This project will be funded under the United States Department of Agriculture (USDA), Dural
Development Program. The funding provides for a grant amount not to exceed $777,500
and for a loan amount of $259,200. As a condition of this funding, the USDA requires the
Department of Water Supply to secure a general obligation bond as a pledge on the loan
portion.
On January 22, 2002, the Water Board adopted a loan resolution authorizing and providing
for the incurrence of indebtedness for the purpose of providing a portion of the cost for this
project.
If there are any questions, please do not hesitate to call the Department of Water Supply.
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William Takab
Director of Finance
AP OVE[~:
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Harry Kim
Mayor
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cc: Department of Water Supply _
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Form B-52
7/18/91
DEPARTMENT OF FINANCE
REQUEST FOR COUNCIL ACTION
DEPARTMENT: WATER SUPPLY DATE: April 29, 2002
STAFF CONTACT: _ Richard Tsunoda/Gary Kawasaka PHONE: 961-8050
A. REQUEST:
The Department of Water Supply requests the issuance and sale of General Obligation Bonds of the County
of I-lawaii, in the principal amount of $259,200.
B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED)-
The Department of Water Supply has awarded a contract, Job No. 99-733, CONSTRUCTION OF THE
HAPPY HOMES SUBDIVISION WATERLINE REPLACEMENT (Puna, Hawaii), for $1,036,700. This project
consists of the replacement of existing galvanized iron pipeline and appurtenances with new ductile iron
pipeline, copper service connections, fire hydrants and appurtenances. The water system within the
subdivision in addition to the distribution line feeding into the subdivision will be replaced with new lines,
including ahigh-pressure by-pass line that will improve the water pressure conditions for a certain segment
of the area. The completion of this project will provide for improved fire flow and water pressure conditions.
The project will be funded under the United States Department of Agriculture (USDA), Rural Development
Program. The funding provides for a grant amount not to exceed $777,500 and for a loan amount of
$259,200. As a condition of the funding, the USDA requires that the Department of Water Supply secure a
general obligation bond as a pledge on the loan portion.
On January 22, 2002 the Water Board of the Department of Water Supply, County of Hawaii adopted a loan
resolution for the amount of $259,200 authorizing and providing for the incurrence of indebtedness for the
purpose of providing a portion of the cost of constructing the Happy Homes Subdivision Waterline
Replacement.
SIGNED: DATE: April 29, 2002
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