HomeMy WebLinkAboutCOM 0636.003 1996-1998 J"t~''F'•'9W
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Stephen K. Yamashiro •T _ - Harry A. Takahashi
Mayor ~ Direcmr
er°:. S.K. Schulte
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_ ~ i ~~`I , Deputy
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DEPARTMENT OF FINAN~~~'' ' ~
25 Aupuni St~ecq Room 118 Hilo, Hawaii 96720-4252
(80R) 648234 Fax 08) 6 - 8
January
The Honorable Aaron Chung, Chairman
and Committee Members
Committee On Finance
Hawaii County Council
Hilo, Hawaii
Re: Bill 180 Relating to Issuance of $40 Million General
Obligation Bonds
Your Committee has requested a listing of prospective
projects for the above-mentioned general obligation bond
issue. In providing you with a listing, we have also
attempted to provide you with an explanation of the
allotment process.
As indicated in your Committee discussions, the
Administration has identified tentative projects which may
be candidates for the bond proceeds. However, the
Administration also recognizes that, as we progress, there
may be new projects which may replace those under
consideration.
For your understanding as to how the process works, let's
go back to Ordinance 93-43 which authorized $30,000,000
for projects approved in Ordinances 90-75, 91-51 and 92-74
for the fiscal years ending June 30, 1991, June 30, 1992,
and June 30, 1993. This ordinance was subsequently
amended by Ordinances 93-75, 94-104 and 95-115. These
amendments allowed capital projects authorized in the
capital budgets of the fiscal years ending June 30, 1994,
June 30, 1995, and June 30, 1996, to qualify for the bond
proceeds derived from the sale of the bonds authorized by
Ordinance 93-43.
We expect that similar amendments will take place to Bill
180 as we proceed to enact a new capital budget in future
fiscal years.
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Council Chairman and Committee Members
January 7, 1998
Page 2
As far as our current list of tentative projects, we offer
you the following:
• East Hawaii Landfill Closure, Hilo Transfer Station
$12 million.
This project is proceeding and involves two
projects. In closing the landfill, we will need to
develop a means by which to transfer the East
Hawaii trash to the Puuanahulu landfill.
• Lako Street Connector
This project is much needed in providing North Kona
with another mauka/makai connector. Project cost
is still undetermined.
• Kealakehe Effluent Disposal - $4,000,000
The County needs to proceed with the development of
a disposal system for our effluent at the Kealakehe
wastewater treatment facility.
• ADA Compliance
The County is currently in litigation in federal
court and compliance cost is unknown.
• Puainako Street Extension County Share - $7,000,000
This project is on the Statewide Transportation
Improvement Program at an estimated total cost of
$35 million. Our share amounts to a 20$ match.
This project should provide the residents in Hilo
with an alternate route from Kaumana. It should
also open up development opportunities which should
then expand our tax base.
• Alii Hiqhway County Share - $6,000,000
This project, like Puainako Extension, will provide
the local community with an alternate route in
providing much needed relief to traffic congestion
and serves as the primary evacuation/emergency
route for the coastal area. This project is also
envisioned to open opportunities for future land
development which will enhance the growth to our
taa base. We are also hoping that this project
will be done with a 20-80 county/federal match.
.rte
Council Chairman and Committee Members
January 7, 1998
Page 3
• ISTEA
According to Public Works, they are currently
working on projects with the following matching
requirements:
1998 2.73 million
1999 3.34
2000 0.41
Total 6.48
It is noted that there may be more projects as more funds
become available. ISTEA projects are funded on a 20-80
match.
As presented in Committee discussions, we do not issue
bonds annually; however, we do approve capital budgets
every year with general obligation bonds identified as a
possible funding source.
We hope that the foregoing has provided you with more
insight as to how the process works. We look forward to
working with the Council in addressing mandated issues and
much needed improvements to our communities.
Sincerely.,
qII~~ C~
HaYty A. akahashi
Finance D rector
HAT:aeb
cc: Mayor