HomeMy WebLinkAboutCOM 0756.000 2002-2004
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SEP-02-2004 THU 0623 PM Co f H Legislative Auditor FAH NO. 808 961 8572 P. 02
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IIAWAI'1 COUNTY COUNCIL
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September 3, 2004
-77
MEMORANDUM 3
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TO: James Y. Arakaki, hair, s %nJi.11 o mbers
FROM: J. Curtisryler,111
SUBJECT: 12c9olution Adopt I SDA Form esolution for USDA Rural Utilities Service
GrantiLoan Financing of the Kona CoastviewlKona Wonderview Water
Improvement District No. 18 and Related Matters
A(Utched please find a copy of a resolution with attached exhibits adopting a USDA Rural Utilities
Service "Form Resolution" required for the loan closing actions now underway to complete the
financing of the Kona Coastvicw and Kona Wonderview Water ImprovementDistrict.
Correspondence dated August 30, 2004 from the USDA Office of the General Counsel in San
Francisco indicates that adoption of these resolutions are required per loan closing instructions to
USDA's Rural Utilities Program Director in Bile, In response, our Legislative Auditor's Office,
Honolulu bond counsel attorney, and Office of the Corporation Counsel have collaborated to bring
these measures forward to assure that all loan/grant closing actions involving USDA are completed
before the loan closing deadline of September 30, 2004 (the last day of the current federal 1 iscal
year). It is critical that these measures be favorably adopted to secure the $3,696,400.00 in fbdcral
loan financing and g1,823,600.00 federal grant underwriting this Kona improvement district.
For these reasons, I have asked Chairman Arakaki to approve a request to waive this matter from the
Finance Committee to enable timely action by the Council.
1 ask for your support to adopt this federally required "form" resolution ("RUS Bulletin 1780-27,
I.oan Rusolution") and its "cover" resolution as submitted. Thank you for your thoughtful
consideration of this matter.
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Attachments
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Kano Council Office. 776399 Naomi 411nr nn • KlilmnK.na • Il:mw'i • 967-10-9980
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Comm. No.
Ref. TO:
ef. Date
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AARON S.Y. ('HUNG Phone: (808) 961-8396
('nmtd[mentbcr Fax: (808) 961-8912
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HAWA17 COUNTY COUNCIL
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mrnY ofHawai'i
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25 aupuni Street. Suite 109 rn
llllo, 11ovai'1 96720 .
September 3, 2004 -71
James Y. Arakaki, Chair
Hawaii County Council
25 Aupuni Street
Hilo, Hawaii 96720
RE: Request to Waive Consideration of Resolution No.239 , A Resolution Authorizing the
Adoption of USDA Form Resolution 1780-27 Providing for the Incurrence of Indebtedness for
the Financing of Public Water System Improvements in Improvement District No. 18-Kona
Coastview and Kona Wonderview Subdivisions, North Kona, Hawaii; To Enter into an
Agreement with the United States of America, Pursuant to HRS 46-7, for the USDA Grant
Portion of the Costs of Improvement District No. 18; and To Authorize the Mayor, Manager of
the Department of Water Supply, Finance Director and Chair of the County Council to Take
all Action(s) Necessary to Facilitate and Execute Such Loan and Grant Agreements
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 September 15, 2004 in Kona.
In reviewing this matter, I believe that waiver of this resolution will facilitate timely action by the Council
on September 15`x', thereby assuring that necessary loan closing actions involving the U.S. Department of
Agriculture are undertaken by the loan closing deadline of September 30, 2004. It is therefore
advantageous that approval is granted and the matter placed onto the next Council agenda for review.
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.
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Aaron S. Y. Ch ng, Chair
Committee on Finance
Ap ve e/Waive to_C-ounci*l Disapproved/Date/Refer to FC:
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James Y. Ara aki, CI James Y. Arakaki, Chair
Hawaii Co ity Con it Hawai'i County Council
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Attachments