HomeMy WebLinkAboutCOM 0630.000 2006-2008 MtY O• F4
Harry Kim ~ ~
~ . William Takaba
Mayor "E, Director
Nancy E. Crawford
Deputy Director
~ nG'M~
County of Hawaii
Finance Department r
25 Aupuni Street, Room 118 • Hilo, Hawaii 96720
(808) 961-8234. Fax (808) 961-8248
N
August 21, 2007
Pete Hoffmann, Chairman and >
Members of the Hawaii County Council
Hawaii County Council
25 Aupuni Street
Hilo, Hawaii 96720
Re: Bond Ordinance
Enclosed is a bill for an ordinance authorizing the Mayor to enter into an intergovernmental
agreement for a State Water Pollution Control Revolving Fund Loan (SRF) for the County's
Honoka'a Large Capacity Cesspool Replacement project and the Na'alehu and Pahala Large
Capacity Cesspool Replacement project; and authorizing the issuance of general obligation
bonds for the purpose of financing the improvement projects. Pursuant to the County
Procedures Manual for Participation in the Hawaii State Revolving Fund Loan Program,
prepared by the Wastewater Branch of the Hawaii Department of Health in April 1994, part of
the loan application process requires a "resolution or ordinance passed by the County Council
which authorizes the SRF loan application and identifies the dedicated source(s) of revenue
(i.e., general obligation bonds) which will fund the project and repayment of the loan with
interest." The Council's authorization of the issuance of general obligation bonds will serve as
a pledge of its general obligation authority as security for repayment of the loan and interest.
If there are any questions, please do not hesitate to call the Department of Environmental
Management.
Q'r~v"
William Takaba
Director of Finance
APPROVED:
(Harry Kim
VV Mayor Comm. No. y 3 ~
Enc. Ref. Toe ~C,
Ref. Dote AUG 2 3 200)
cc: Environmental Mgt
, Hawaii County is an Equal Opportunity Provider and Employer
1
Form B-52
7/18/91
DEPARTMENT OF FINANCE
REQUEST FOR COUNCIL ACTION
DEPARTMENT: Dept of Environmental Management _ DATE: 08/20/07
STAFF CONTACT: Dora Beck PHONE: 961-8028
A. REQUEST:
An Ordinance authorizing the Mayor to enter into an intergovernmental agreement for a State Water
Pollution Control Revolving Fund Loan for Wastewater improvement projects and authorizing the issuance of
$24,096,351 General Obligation Bonds of the County of Hawaii for the purpose of financing the following
projects:
Honokaa LCC Replacement $10,163,172
Naalehu and Pahala LCC Replacement $13,933,179
B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED):
The Honokaa LCC Replacement project and the Naalehu and Pahala LCC Replacement project are required
to comply with the EPA's Underground Injection Control regulations which require large capacity cesspools
to be upgraded or closed by 4/5/05.
These projects will connect lots in those areas currently serviced by large capacity cesspools to a collector
system serviced by a wastewater disposal system.
While the availability of SRF funding has been significantly reduced due to several City and County of
Honolulu projects, the State Department of Health has indicated that the Honokaa LCC Replacement and
Naalehu and Pahala LCC Replacement projects are still amongst the projects that they expect to fund.
The amounts shown above are the amounts that the State Department of Health has indicated that they will
be able to fund through the SRF program. Estimated construction costs for these projects are higher and the
shortfall will need to be funded by County General Obligation Bonds.
Existing appropriations for these projects are less than the requested SRF funding as the appropriations for
the second phase of construction will be requested in FY08-09.
SIGNED: - ~ DATE: ~ ~ 6
Department Head
M:\080202\Forms\B-52\B-52 Request for Council Action -Bond Ordinance Honokaa Naalehu Pahala 082007 revised.doc