HomeMy WebLinkAboutCOM 0745.000 2004-2006 ~1Y Oi M~44
Harry Kim ~ ~e4, William Takaba
blal nr lhrrclor
' Nancy E. Crawford
~i?oi Depuq~ Uvrcior
r
i ,
County of Hawaii
Finance Department
25 nppunl Street Ronm I I H • Hlo. Hawnil 96720
(80ft)961-8234 • Fns (ROR)961-R24%
March 6, 2006
Stacy K. Higa, Chairperson and
Members of the Hawaii County Council
Hawaii County Council
25 Aupuni Street
Hilo, Hawaii 96720
Re: Amendment to the 1996A General Obligation Bond Ordinance
Ordinance No. 95-82, better known as the 1996A General Obligation Bond (GOB) Ordinance, restricted
the use of bond proceeds to those Capital Improvement projects of the fiscal years noted within the text
of the ordinance. Bond Ordinance No. 95-82, adopted on July 5, 1995, as amended by Ordinance No.
96-92, adopted on August 15, 1996, allowed proceeds to be used only towards projects contained in the
CIP budget ordinances for the fiscal years ending in 1994, 1995, 1996, and 1997.
Presently, the County has CIP projects which are in progress or ready to start, but we are not permitted to
use the unspent 1996A GOB funds due to the ordinance's restriction. We recommend allowing the use of
the unspent funds for any appropriated projects, noted in subsequent fiscal years' capital budgets.
Enclosed is a bill for an ordinance to amend the 1996A General Obligation Bond ordinance (No. 95-82,
adopted on July 5, 1995, as amended by Ordinance No. 96-92, adopted on August 15, 1996) and
allowing the use of unspent bond funds for any appropriated capital improvement projects.
If there are any questions, please do not hesitate to call Nancy Crawford, Deputy Director of Finance.
?
William Takaba
Director of Finance
APPROVED:
/~U~U~~
Harry Kim
~ Mayor
Enc. .~t
C ~t1U a43~ Comm. No._ / ~
Ref. To:
Ref. L`gte
Hawaii County is an Equal Opportunity Provider and Employer