HomeMy WebLinkAboutCOM 0572.004 2002-2004 ~YY O! H
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AARON S.Y. C'1IUNG ~ ° Fax: (808) 961-8912
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May 6, 2004
MEMORANDUM
TO: James Y. Arakaki, Chai~r~aJnd Council Members
FROM: Aaron Chung ~j
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SUBJECT: Amendments to Bill 254, A Bill Authorizing the Issuance of General Obligation Bonds
For your review and consideration, 1 am submitting a Draft 2 of Bill 254, a bill authorizing the issuance of
$40 million in general obligation bonds for the purpose of financing various road and highway
construction projects.
Several amendments contained in Draft 2 of Bill 254 were offered by Finance Director William Takaba,
upon his consultation with bond counsel. Additionally, an amendment was proposed and approved by
Council members to remove reference to specific projects in Section 14 of the bill. Accordingly, the
amendments proposed in Draft 2 are as follows:
1. On Page 2, Section 4, line 2, "Section 2" is replaced by "Section 3."
2. On Page 2, Section 4, 10'~ line, "Bond" is replaced by "Bonds."
3. On page 4, Section 7, last paragraph,'Bond" is replaced by "Bonds."
4. On page 4, Section 8, Tine 18, "Section 3" is replaced by "Section 4."
5. On page 5, Section 1 I ,the word "provision" is replaced by the plural "provisions."
6. On page 6, Section l4, the words "the following" were are removed from reference to road and
highway construction projects and the numbered "Deoartment/Proiect," "Ordinance No. "and
"Amount subparagraph is deleted.
I thank you for your consideration of these amendments. Please contact me if you have any questions
about Draft 2, Bi II 254.
AC/rf Comm. No. 7
Atrtachment Ref. To: f ?esee?ed i~
8'jI ~5 `f, n - Ref, bate MAY ~i 9Md
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