HomeMy WebLinkAboutCOM 0798.004 2002-2004
JAMES Y. ARAKAKI vv a
,'~"'~ry Phone: (808) 961-8272
Chairman & Presiding ~cer Fax: (808) 961-8781)
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COUNTY COUNCIL
County of Hawaii
Hawaii County Building
25 Aupund Street
Hito, Hawaii 96720
October 19, 2004
TO: Council Members
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FROM: James Y. Arakaki
Chair
RE: Bi11348
$45 million General Oli igation Bonds
This is to request your favorable consideration of an increase of the general obligation bond authorization
from $45 million to $47 million. The purpose of this request is to fund much-needed island wide facility
planning efforts, such as roadway corridors, sewer and solid waste infrastructure, and multimodal
transportation planning.
The amendment is as follows:
"SECTION 1. Findings and Detemrinations. The County Council has detemuned to authorize
the issuance and sale of general obligation bonds (the "Bonds") of thte County in a principal
amount not to exceed [$40,000.00] $47, 000.000, the proceeds derived from the sale of which are
to be expended by the County to finance various road and hiehway construction and public
transportation enhancements in the districts of North Kona, South Kona, Puna, Hamakua, Hilo
and South Kohala and to Tnance islandwide infrastructure planning a orts as set forth in Section
14. The County Council has further determined that this authorization for the purpose and
projects described herein will address longstanding needs for highway construction and road
improvements, transportation enhancements, and infrastructure planning_e orts, and are in the
best interest of the County.
"SECTION 2. Purpose. In selecting various road and highway construction projects, priority
shall be given to internal connector roads and road extensions to relieve traffic bottlenecks and
congestion in North Kona and South Kona, the findings and recommendations of the Keahole to
Honaunau Regional Circulation Plan and Puna Regional Circulation Plan, an alternative route to
the intersection of Lindsey Road and Mamalahoa Highway in Waimea, strategic and timely
acquisition ofrights-of-way in Kona and Puna, and installation of traffic signals and other safety
improvements. It is intended that the distribution of the proceeds shall be apportioned as follows:
North and South Kona, $23 million; South Kohala, $10 million; Puna, $7 million; three nark-and-
ride facilities in South Kona, North Kona and Puna, $1,500,000; Sand Gulch by-pass road in
Hamakua. $2,400.000: Laupahoehoe Point emergency access road, $100,000; transportation
enhancement projects in Hilo, $1,000,000. Moreover. islandwide facility planninz efl'orts shall
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Ref. To: ~~~e L
Hawaii County is an Equat Opportunity Provider and Employer r`
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include $2 million for the identiftcation of roadway corridors, wastewater facilities planningand
expansion solid waste facilities planning and implementation and multimodal transportation
planninz and implementation.
"SECTION 3. Authorization of Bonds. There are hereby authorized for issuance and sale Bonds
of the County in a principal amount not to exceed [$40,000,000] $47 000 000 in the aggregate,
the proceeds derived from the sale of which shall be used and expended by the County to pay all
or part of the costs of the authorized public improvements referred to in Section 14 hereof and all
or a part of the costs incurred by the County in connection with the issuance of the Bonds."
"SECTION 14. Authorization of Proceeds for Public Improvements. The proceeds from the
issuance and sale of General Obligation Bonds of the County of Hawaii in the principal amount
of [$40,000,000] $47, 000.000 shall be used for the sole purpose of financing road and highway
construction, transportation enhancement projects in the districts of North Kona, South Kona,
Puna, Hamakua, Hilo and South Kohala, and islandwide infrastructure plannin,~e forts for
roadway corridors. wastewater and solid waste (acidities and multimodal transportation
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