HomeMy WebLinkAboutCOM 0037.003 2002-2004 iv or
GARY SAFARIK ~ PHONE: 961-8267
Councilmember FAX: 961-8912
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COUNTY COUNCIL
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County of Hawat e
Hawaii County Building
25 Aupuni Street
//ilo. Hawui'i 9(720
January 13, 2003
"f0: Council Members
7
PROM: Gary Safarik - ~
Council Member ~ ,
RG: Bill No. 45
Amendment to $14 Million General Obligation Bond Bill
For your consideration, 1 would like to propose an amendment to Bill No. 45, by adding an
additional $1.25 million to the general obligation bond bill for a project called "Pahoa Village
Resource Park." The amendment would read as follows (Ramseyer format used):
"SGC'I~ION I. Findings and Determinations. The County Council has
determined to authorize the issuance and sale ofgeneral obligation bonds (the °B<mds")
of the County in a principal amount not to exceed ~$14,000,000~ $15,250,000, the
proceeds derived from the sale of which are to be expended by the County to tinance the
Kahului-Keauhou Parkway (also cal]ed Ali'i Parkway or Ke Ala O Keauhou), the
American with llisibilities Act (AUA) Ramp Compliance project [ands the Americans
with Disabilities Act (ADA) Parks Facilities Compliance project. and the Pahoa Village
Resource Park which are authorized by Ordinance Nos. UO-64.01-56 and 02-77- as
amended. It is hereby Cur[her found and determined that it is advisable and in the best
interest of the County to authorize the issuance and sale ofgeneral obligation bonds of
the Counly in the maximum principal amount of ~$14.000.000~ $15,20,000, the
proceeds derived from the sale of which shall be used as for the purposes hcreinabove
described.
SF.CT[ON 2. Authorization of Bonds. There are hereby authorized for issuance
and sale Bonds oFthe County in a principal amount not to exceed x$14.000.000]
$15,250,000 in the aggregate, the proceeds derived from the sale of which shall be used
and expended by the County to pay all or a part of the costs of the authorized public
improvements referred to in Section 1 hereof and all or a part of the costs incurred by the
County in connection with the issuance of the Bonds. "
Comm. No.`s
File No. ~N
Ref. To: Cv
Drs[rict v-Puna Makai JAN 1 4.2003
ReE. Date