HomeMy WebLinkAboutCOM 0713.000 2002-2004 `oJ,~`V Os N7~.'i
.1. CURTIS TYL.El2, III yi~;~ [3us: (808) 327-3666
c,«• r'n<<~r I~ax: (808) 326-5697
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HAWAII COUNTY COUNCIL
July 23, 2004
MEMORANDUM -
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TO: James T. Arakaki, Chair, and Council Members -
FROM: J. Curtis Tyler, III ~ ~
SUBJECT: Bill for an Ordinance A horizing the~ssuance of General Obligation Bonds o6-tl~e
County of Hawaii in an Aggregate Principal Amount Not to Exceed $4,296,400'.00
for the Purpose of Financing a Portion of the Costs of Constructing Public Water
System Improvements in "Improvement District No. 1H -Kona Coastview and
Kona Wonderview Subdivisions"; Fixing the Form, Denomination, and Certain
Details of Such Bonds; and Providing for the Sale of Such Bonds
Attached please find a copy of a bill authorizing the issuance of general obligation bonds to
finance a portion of the costs of constructing water system improvements in "Improvement
District No. 18 -Kona Coastview and Kona Wonderview Subdivisions." With the concurrence
of Finance Committee Chair Aaron Chung, this measure has been waived to the Council for its
consideration on first reading on August 4, 2004.
This bill has been carefully drafted with consultation from the Office of Corporation Counsel,
our Finance Department Treasurer, bond counsel, and the Legislative Auditor's Office. Its
adoption without delay will enable the most favorable financing for assessed homeowners within
the Improvement District.
I urge your continuing support for this effort, now only two months away from actual
construction start-up. If you have any questions, please do not hesitate to contact me.
Thank you.
JCT/rf
Attachment
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Kona Council Olfice: 77-6399 Nnleni Street • Suite 104 • 6ailua-Y:ona • I lawni'i • 96740-8950
Comm. No.
Hawai "i County is an Equal Opporluntly Provider and Employer
Ref. To:--
Ref, Uate JUL
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AARON S.Y. CHUNG Phone: (808) 961-8396
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C'oimcihnemhcr Fax: (808) 961-8912
HA WAI COUNTY COUNCIL
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.Iuly 22, 2004 Hilo. Hamni'i 967?0
P`e: Comm. 713 r-
Jnmcs Y. A~akaki, Chair
I Inwai'i County Council
25 Aupuni Slree[
Hilo, HaNai"i 96720
RE: Request to Waive Consideration of Bill No. 306, a Bill for an Ordinance Authorizing the Issuance
of General Obligation Bonds of [he County Of Hawaii in an Aggregate Principal Amount not to Exceed
$4,296,400.00 for the Purpose of Financing a Portion of the Costs of Constructing Public Water System
Improvements in "Improvement District No. 18 -Kona Coastview and Kona Wonderview Subdivisions";
Fixing the Form, Denomination, and Certain Details of Such Bonds; and Providing for the Sale of Such
Bonds
Pursuant to Section I (g) of Rule 4 of the Procedure of the Council of the County of Hawaii, I request your
support for waiver of this matter from my Committee on Finance for consideration and approval by the full
Council at its next scheduled meeting on August 4, 2004.
At the request of Council Member J. Curtis Tyler, III, I recommended that this bill be taken up for favorable
consideration by the Council in order to meet the rigorous schedule of actions required to bring this project to
loan closing at the most favorable interest rate financing for the residents of the Kona Coastview and Kona
Wondercicw subdivisions.
It is therefore advantageous that approval is granted and the matter placed onto the next Council agenda for
recicu. However, in the event this request is denied, for whatever reason, I understand the matter shall be
referred to the Committee on Finance for placement on its future agenda.
Sincerely,
Aaron S. Y. Chung, Chair
Committee on Finance
Approved/Date/Waive to Council: Disapproved/Date/Refer to b`inance:
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. atfies Y. Ar ka hair ~ James Y. Arakaki, Chair
H1wai"i Cotlnt~Council Hawai"i County Council
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