HomeMy WebLinkAboutCOM 1145.001 2004-2006
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Harry Kim William Takaba
Mayor Director
K's 0 C T 26 pt !In yg Nancy E. Crawford
Deputy Director
County of Hai
Finance Department
25 Aupuni Street, Room 118 • Hilo, Hawaii 96720
(808) 961-8234 • Fax(808)961-8248
October 25, 2006
Stacy Higa, Chairman, and
Members of the Hawaii County Council
25 Aupuni Street
Hilo, HI 96720
Subject: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds
Enclosed is Draft 2 of Bill 358, providing for the issuance of general obligation bonds for
funding capital improvement projects and authorizing the refunding of certain
outstanding bonds. Draft 2 was prepared by bond counsel to delete four of the bond
issues identified for potential refunding in the original bill. Council has previously
authorized the refunding of 1999A and 2001A issues in Ordinance 04-81, so they are
removed from this bill. We have also determined that 2004A and 2006A issues are not
appropriate for refunding at this time. The amount authorized for refunding and,
therefore, the total amount of the authorization has been decreased.
Total bond authorization is decreased to $110,000,000. Authorization for funding of
projects remains at $75,000,000 and the authorization for refunding is decreased to
$35,000,000.
Bill 358 is on the agenda for the Monday, October 30, 2006 Finance Committee Meeting.
If there are any questions, please do not hesitate to call me.
William Tak ba
Director of Finance
APPROVED:
au
Harry Kim
Mayor Comm. No.
Enclosure Ref. To-. N; atwt L
Ref. C~a;e OCT 3 0 2DDg
Hawaii County is an equal opportwityprovider and employer.