HomeMy WebLinkAboutCOM 0209.000 2002-2004 MtY Y~ N,~
Harry Kim h~ William T. Takaba
Mayor ; • Director
Nancy E. Crawford
' Deputy
•'ar yO•~i
Michael N. Okumoto
treasurer
County of Hawaii
DEPARTMENT OF FINANCE
TREASURY DIVISION
101 Pauahi Street, Suite No.5 Hilo, Hawaii 96720-4252
(808)961-8351 (808)961-8330 (FAX)
April 11, 2003
The Honorable James Y. Arakaki, Chairman
And Members of the Council
County of Hawaii
25 Aupuni Street
Hilo, Hawaii 96720
Dear Chairman Arakaki:
In accordance with Section 47C-3, Hawaii Revised Statutes, I certify that the
enclosed supplemental summary of indebtedness of the County of Hawaii as of
March 31, 2003 is correct. The closing of the $36,310,000 General Obligation
Bonds, 2003 Series A on April 16, 2003 requires preparation of this report and is
included in this report.
Concurrence to the supplemental summary of the Chairman of the Finance
Committee and the Corporation Counsel are also attached.
Very truly yours,
p~~e
KJ l/UT
William T. T kaba
Director of Finance
Encls.
Comm. No.
Ref. To:
Ref. Uote
Mf V or M~
Harry Kim . n~q; William T. Takaba
Mayor ; • Director
Nancy E. Crawford
: Deputy
f"•'o:'+~"~ Michael N. Okumoto
Treasurer
County of Hawaii
DEPARTMENT OF FINANCE
TREASURY DIVISION
101 Pauahi Street, Suite No.S Hilo, Hawaii 96720-4252
(808)961-8351 (808)961-8330 (FAX)
April 8, 2003
Mr. Lincoln Ashida
Corporation Counsel
County of Hawaii
25 Aupuni Street
Hilo, Hawaii 96720
Section 47C-3, Hawaii Revised Statutes, requires that a supplemental summary of the
indebtedness of the County be prepared as of a date within 30 days of the delivery of a new
bond issue. The enclosed summary as of March 31, 2003 is submitted for your review and
concurrence. The closing of the $36,310,000 General Obligation Bonds, 2003 Series A on
April 16, 2003 requires preparation of this report and is included in this report.
The attached tabular summary requires concurrence from both the Chairman 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 therefor. After receiving your
responses, I must 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.
K/~
William T. T <aba
Director of Finance
Encl.
I oncu do not concur with the tabular summary of the net funded debt of the County of
Hawall as of March 31, 2003. Reasons for non-concurrence:
Corporation Counsel APR 0 g 2003
County of Hawaii Date:
Mtv or y~
Harry Kim ~P,:'-" i~ William T. Takaba
Mayor Director
Nancy E. Crawford
Deputy
'%o:'~~"~ Michael N. Okumoto
Treasurer
County of Hawaii
DEPARTMENT OF FINANCE
TREASURY DIVISION
101 Pauahi Street, Suite No.5 Hilo, Hawaii 96720-4252
(808)961-8351 (808)961-8330 (FAX)
April 8, 2003
Mr. Aaron S.Y. Chung
Chairman, Finance Committee
County Council
County of Hawaii
Hilo, Hawaii 96720
Section 47C-3, Hawaii Revised Statutes, requires that a supplemental summary of the
indebtedness of the County be prepared as of a date within 30 days of the delivery of a new
bond issue. The enclosed summary as of March 31, 2003 is submitted for your review and
concurrence. The closing of the $36,310,000 General Obligation Bonds, 2003 Series A on
April 16, 2003 requires preparation of this report and is included in this report.
The attached tabular summary requires concurrence from both the Chairman 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 therefor. After receiving your
responses, I must 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.
_ ,
William T. Ta aba
Director of Finance
Encl.
I concur/d>~fel.6pncur with the tabular summary of the net funded debt of the County of
Hawaii as of March 31, 2003. Reasons for non-concurrence:
Chairman, Finance Com ittee ~ $ V3
County Council, Cou f Hawaii Date:
COUNTY OF HAWAII
Statement of Funded Debt
March 31, 2003
1. Total Principal Amount of County Bonds
Outstanding and Unpaid:
a. County General Obligation Bonds $ 191,551,900
(Schedule A)
b. Special Assessment Bonds $ 6,115,000
(Schedule B)
c. Otherlndebtedness $ 1,088,883
(Schedule C)
d. State Revolving Fund Loans $ 31,895,002
(Schedule D)
Grand Total of Bonds Outstanding and Unpaid $ 230,650,785
2. Exclusions from Grand Total:
a. General Obligation Bonds maturing $ 7,425,300
in current fiscal year
(Schedule A)
b. Special Assessment Bonds $ 6,115,000
(Schedule B)
c. State Revolving Fund principal $ 214,710
maturing in current fiscal year
(Schedule D)
d. General Obligation Bonds $ 16,794,600
Reimbursable by the County
Department of Water Supply
(Schedule E)
Total Exclusions $ 30,549,610
Net Funded Debt of the County of Hawaii $ 200,101,175
March 31, 2003
SUPPORTING SCHEDULES
Statement of Funded Debt as of
March 31, 2003
(Based on Records in Finance Department)
Schedule A
County General Obligation Bonds: Principal Amount General Obligation
Outstanding Bonds Maturing in
March 31, 2003 Current FY
June 15, 1977 222,000 -
June 1, 1981 460,000 24,000
December 1, 1989 1,000,000 -
May 1, 1993 57,835,000 3,995,000
February 1, 1996 24,025,000 -
March 12, 1996 586,000 -
February 25, 1997 3,169,000 -
June4, 1998 734,900 11,300
August 15, 1999 30,000,000 1,125,000
August 15, 1999 12,410,000 2,270,000
July 25, 2001 23,000,000 -
August 6, 2001 1,800,000 -
April 16, 2003 36,310,000 -
Total County General
Obligation Bonds 191,551,900 7,425,300
Schedule B
Special Assessment Bonds: Principal Amount
Outstanding
12/27/01 Kaloko Subdivision Refunding (17) 6,115,000
Schedule C
Other Indebtedness: Principal Amount
Outstanding
Kulaimano Elderly Housing
Project Mortgage (FmHA) 1,088,883
Schedule D
Principal Amount Principal Maturing
State Revolving Fund Loans: Outstanding in Current FY
Hilo WWT Phase II 7,229,463 -
Waiakea Houselots Sewer 262,033 -
Waiakea Mill Pond Sewer 862,202 62,499
Kealakehe Effluent Disposal 798,247 -
Alii Drive Interceptor A & B 2,030,249 -
Ainako Interceptor A & B 1,417,864 -
Alii Drive Interceptor C & D 2,594,913 -
Kalanianaole Collector Sewer 1,107,920 35,159
Waiaha Bay SPS 2,594,313 -
Alii Drive Interceptor E & F 1,604,888 -
Holualoa Sewer Pump Station 2,412,921 69,870
Paukaa Community Collector 1,901,684 47,182
Waiakea Houselots Phase II 4,418,460 -
Pahoehoe WWPS 2,659,845 -
31,895,002 214,710
Schedule E
General Obligation Bonds Reimburseable
by the County Department of Water Supply:
June 1, 1981 460,000
December 1, 1989 (Refunding) 1,000,000
May 1, 1993 7,125,000
June 4, 1998 734,900
July 15, 2001 8,000,000
17,319,900
Less Amount Already Excluded (525,300)
16,794,600