HomeMy WebLinkAboutCOM 0037.006 2002-2004 vv or M
~`y
.:I~q.
••~ri ei~M~M~
,1
COUNTY COUNCIL
County ofHuwai'i -
HaH~ai'i Count~• Building
2~ Aupuni Street
Hrlo, Hawaii 96710 _ .
.lanuary 22, 2003
TO: Council Members
FROM: Gary Safarik, Chair
Committee on Parks an unental Management
James Y. Arakaki, Chair
County Council
RE: BiII No. 45
General Obligation Bonds
Phis is to request your favorable consideration of an amendment to Bil I No. 45 by increasing the
authorized bond amount by $6 million to be used specifically for the closure of the South I Iilo landfill--a
federal mandate. Also contained in this request is an additional $500,000 for bond administration costs.
With the passage of Resolution No. 238-02, which accepted the Update to the Integrated Solid Waste
Management Plan, we should have a realistic funding mechanism in place to cover costs of the landfill
closure component. The accepted Plan shows that the consultant selection. procurement. environmental
assessment. design, contract docwnents preparation and contract procurement would occur in Year 2.
While the Council has appropriated $3.5 million towards the landfill closure to date, the $6 million figure
is in line with a Project Data/Financial Impact Statement provided in FY2001 Capital Program and further
appropriations can be made to the capital budget as necessary.
The amendment inclusive of the Pahoa Village Resource Park, would read as follows:
"SECTION I . Findings and Determinations. "Che County Council has determined to
authorize the issuance and sale of general obligation bonds (the'Bonds") of the County in a
principal amount not to exceed [$14,000.000] $21,750,000, the proceeds derived from the sale of
which are to be expended by the County to finance the Kahului-Keauhou Parkway (also called
Ali'i Parkway or Ke Ala O Keauhou), the American with Disabilities Act (ADA) Ramp
Compliance project, ~and~ the Americans with Disabilities Act (ADA) Parks Facilities
Compliance project, the Pahoa Village Resource Park, and the South Hilo landfill closure which
are authorized by Ordinance Nos. 00-64, 01-56 and 02-77, as amendedyprovided that $1,250,000
and $6,000,000 of the monies or the actual amounts necessary, whichever is less, are allotted
towards the Pahoa V illage Resource Park and the South Hilo landfill closure, re~cctivelti~. It is
hereby further found and determined that it is advisable and in the best interest of the County t Q
Comm. No, v
File No.
Re .
Kef. Date_ u
Page Two
.lanuary 22, 2003
authorize the issuance and sale of general obligation bonds of the County in the maximum
principal amount of x$14,000,000] $21,750,000, the proceeds derived from the sale of which shall
be used as for the purposes hereinabove described.
SECTION 2. Authorization of Bonds. There are hereby authorized tar issuance and sale
Bonds of the County in a principal amount not to exceed [$14,000,000] $21,750,000 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 I
hereof and all or a part of the costs incurred by the County in connection with the issuance of the
Bonds. "