HomeMy WebLinkAboutORD 2006-020 2004-2006 ~~tY O~_M1'~y,\
7~ ~
~ ~ml~
• A
COUNTY OF HAWAII " :R~ STATE OF HAWAII
,
BILL NO. 194
ORDINANCE NO. 06 x0
AN ORDINANCE AUTHORIZING THE MAYOR OF THE COUNTY OF
HAWAII TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT FOR
A STATE WATER POLLUTION CONTROL REVOLVING FUND LOAN FOR
WASTEWATER PUBLIC IMPROVEMENT PROJECTS; AND AUTHORIZING
THE ISSUANCE OF $5,500,000 GENERAL OBLIGATION BONDS OF THE
COUNTY OF HAWAII FOR THE PURPOSE OF FINANCING QUALIFIED
WASTEWATER DISPOSAL IMPROVEMENTS OF THE COUNTY OF
HAWAII
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. Request for Loan. The County of Hawaii, pursuant to Section 342D-
54, Hawaii Revised Statutes, has submitted an application for a State Water Pollution
Control Revolving Fund Loan (SRF Loan) to the Director of the Department of Health,
State of Hawaii, to finance the construction of the wastewater disposal improvement
project listed in "Exhibit A".
Under the terms and conditions anticipated with regard to such SRF loan, the
County shall repay, over a term of twenty years, the principal amount, which shall not
exceed $5,500,000, at a fixed rate of interest which shall not exceed the Bond Buyer's 20-
yeargeneral obligation bond issue.
SECTION 2. Authorization of Mayor. The Council hereby authorizes the Mayor to
execute all necessary intergovernmental agreements and documents between the State
of Hawaii and the County of Hawaii, relating to the SRF to finance the construction of the
wastewater disposal improvement project listed in "Exhibit A".
SECTION 3. Pledge of the Countv's full faith and credit. The County also pledges
its full faith and credit including but not limited to the County's general taxing power, as
security for repayment of the loan, payment of interest, payment of any loan fees, and
including a covenant to exercise the County's authority as needed. The principal and
interest payments, and any loan fee payments, shall be a first charge on the General
Fund of the County.
SECTION 4. Effective Date. This Ordinance shall take effect upon its approval.
Introduced By:
COUNCIL MEMBER, COUNTY OF HAWAII
xilo ,Hawaii
Date of Introduction: January zo, 2006
Date of 1s` Reading: January 20, 2006
Date of 2"d Reading: February 1, 2006
Effective Date: February 8, 2006
REFL-REPdGE: ~:arnm. 604
EXHIBIT A
WASTEWATER DISPOSAL IMPROVEMENT PROJECT (SRF FUNDED)
Project Amount
Department of Public Works
Large Capacity Cesspool Conversions $5,500,000
OFFICE OF THE COUNTY CLERK
County of Hawaii
xilo, Hawaii
Introduced By: Virginia Isbell - ~'~ROLLCALLttOTE'~
Datelntroduced: January 20, 2006 AYES NOES ABS EX
First Reading: January 20, 2006 Arakaki X
Published: January 29, 2006 Fiiga X
Hoffmann X
REMARKS: Holschuh X
Ikeda X
Isbell X
Jacobson X
Pilago X
Safarik X
7 0 2 0
Second Reading: February 1, 2006
To Mayor: February 2, 2006 ROLL CALL VOTE
Returned: February 8, 2006 AYES NOES ABS EX 1
Effective: February 8, 2006 Arakaki X
Published: February 15, 2006 Higa X
Hoffmann X
REMARKS: Holschuh X
Ikeda X i
Isbell X
Jacobson X
Pilago X _
Safarik X
8 0 1 0
l DO HEREBYCERTIFYthat the foregoing BILL was adopted by the County Council published as'
indicated above.
APPROVED AS TO
FORM ANg, LE~>tITY:
f ' COUNCIL CHAIRMAN
DEPUT CORPORATION COUNSEL ,~GL.~~ ~~~,Ll/J
COUNTY OF HAWAII liG
COUNTY CLERK
Date r` c% ~
194
Bill No.: _
C-604/FC-212
J4~ Reference: _
ro Disapproved this ~ day
Ord No.:
of {=2b ~ C, , 20 0 6
YOR, COU TYtOF HAWAII