Laserfiche WebLink
MtY O• F4 <br /> <br /> Harry Kim ~ ~ <br /> ~ . William Takaba <br /> Mayor "E, Director <br /> Nancy E. Crawford <br /> Deputy Director <br /> ~ nG'M~ <br /> County of Hawaii <br /> Finance Department r <br /> 25 Aupuni Street, Room 118 • Hilo, Hawaii 96720 <br /> (808) 961-8234. Fax (808) 961-8248 <br /> N <br /> August 21, 2007 <br /> Pete Hoffmann, Chairman and > <br /> Members of the Hawaii County Council <br /> Hawaii County Council <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 <br /> Re: Bond Ordinance <br /> Enclosed is a bill for an ordinance authorizing the Mayor to enter into an intergovernmental <br /> agreement for a State Water Pollution Control Revolving Fund Loan (SRF) for the County's <br /> Honoka'a Large Capacity Cesspool Replacement project and the Na'alehu and Pahala Large <br /> Capacity Cesspool Replacement project; and authorizing the issuance of general obligation <br /> bonds for the purpose of financing the improvement projects. Pursuant to the County <br /> Procedures Manual for Participation in the Hawaii State Revolving Fund Loan Program, <br /> prepared by the Wastewater Branch of the Hawaii Department of Health in April 1994, part of <br /> the loan application process requires a "resolution or ordinance passed by the County Council <br /> which authorizes the SRF loan application and identifies the dedicated source(s) of revenue <br /> (i.e., general obligation bonds) which will fund the project and repayment of the loan with <br /> interest." The Council's authorization of the issuance of general obligation bonds will serve as <br /> a pledge of its general obligation authority as security for repayment of the loan and interest. <br /> If there are any questions, please do not hesitate to call the Department of Environmental <br /> Management. <br /> Q'r~v" <br /> William Takaba <br /> Director of Finance <br /> APPROVED: <br /> (Harry Kim <br /> VV Mayor Comm. No. y 3 ~ <br /> Enc. Ref. Toe ~C, <br /> Ref. Dote AUG 2 3 200) <br /> cc: Environmental Mgt <br /> , Hawaii County is an Equal Opportunity Provider and Employer <br /> 1 <br /> <br />