HomeMy WebLinkAboutCOM 0847.001 1996-1998
JMty of Mob
Stephen K. Yamashiro Harry A. Takahashi
Mayor Director
i••;.-_y S.K. Schulte
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DEPARTMENT OF FINANCE
25 Aupuni Street, Room 118 • Hilo, Hawaii 96720-4252
(808) 961-8234 • Fax (808) 961-8248 - -
June 23, 1998
The Honorable James Y. Arakaki, Council Chair and Council Members
Hawaii County Council
Hilo, Hawaii
Re: Proposed Amendment to Bill 248, Relating to General Obligation Bonds
Attached is a proposed draft 2 to Bill 248 authorizing the issuance of
$9,000,000 General Obligation Bonds for the purpose of financing qualified
wastewater public improvements. Please note that Bill 248 is being considered
on second reading at your July 1, 1998, Council meeting.
Recent discussions with State Department of Health officials regarding the
availability of funds through the Hardship Grant Program for Rural Communities
resulted in an awareness that certain parks facilities with wastewater
disposal systems may qualify for grant/loan program funding. The Parks
Department does have an appropriation of $300,000 for upgrading of wastewater
disposal systems for parks facilities.
Bill 248 provides $9,000,000 in general obligation bonds to be issued to the
State Department of Health for securing of one or more loans. Bill 248
identifies three wastewater projects under the jurisdiction of the Department
of Public Works. Discussions with the Department of Public Works indicate
that the Paukaa community sewer project is not expected to require the full
amount designated.
Our proposal is to reduce the amount earmarked for the Paukaa sewer project to
$1,700,000 and to include the Parks wastewater disposal system upgrading
project of $300,000. As a result of an earlier approval, the Paukaa project
will have authorization to obtain $4.2 million in SRF loans. For your
information, we have included a ramseyered page 2.
File Ne. ND
Ref. 3b1~ C f
s,.tf. Date. ,R1N
The Honorable James Arakaki
Council Chair and Members
June 23, 1998
Page 2
Should you have any questions, please feel free to call.
HARRY A. TAKAHASHI
Director of Finance
Attach.
cc: Department of Parks & Recreation
Department of Public Works
PAGE 2 RAMSEYERED
July 1, 1997, as amended ("Ordinance Nos. 96-68[and]. 97-82 and
98-9"), among other appropriations, $9,000,000 from the sale to the
Department of Health of general obligation bonds of the County to
the Qualified Wastewater Projects and for the purposes designated in
said Ordinance Nos. 96-68 and 97-82; (ii) none of such
appropriations has been satisfied from the sale of general
obligation bonds of the County nor has the County authorized the
issuance of general obligation bonds for such purpose; and (iii)
there remains outstanding pursuant to Ordinance Nos. 96-68 and
97-82, $9,000,000 of appropriation for the sale of general
obligation bonds of the County for the aforesaid purpose.
SECTION 2. Authorization of Bonds. There are hereby authorized
for issuance and sale general obligation bonds of the County (the
"Bonds") in the maximum principal amount of $9,000,000, the proceeds
derived from the sale of which shall be used to pay all or part of
the cost of appropriations for the Qualified Wastewater Projects of
the County to be financed from proceeds of general obligation bonds
to be sold to the Department of Health made in Ordinance Nos. 96-68
and 97-82 for the fiscal years ending June 30, 1997, and June 30,
1998, as follows:
Ord. No. Project Amount
96-68 Paukaa Community Collector Sewer
$[2,000,000]1,700,000
96-68 Kalanianaole Collector Sewer, Phase II $3,000,000
97-82 Kaumana Gardens Collector Sewer $4,000,000
98-9 Wastewater Disposal System Upgrading $ 300,000
The proceeds derived from the sale of the Bonds may be used to
reimburse the General Fund for funds theretofore borrowed pursuant
to resolutions of the County Council to pay costs of certain
appropriations made in Ordinance Nos. 96-68 and 97-82, as amended,
to be financed from general obligation bond funds.
SECTION 3. Details of Bonds. The Bonds authorized for issuance
and sale in Section 2 hereof shall be issued and sold in their
PAGE 2 RAMSEYERED
July 1, 1997, as amended ("Ordinance Nos. 96-68(and], 97-82 and
98-9"), among other appropriations, $9,000,000 from the sale to the
Department of Health of general obligation bonds of the County to
the Qualified Wastewater Projects and for the purposes designated in
said Ordinance Nos. 96-68 and 97-82; (ii) none of such
appropriations has been satisfied from the sale of general
obligation bonds of the County nor has the County authorized the
issuance of general obligation bonds for such purpose; and (iii)
there remains outstanding pursuant to Ordinance Nos. 96-68 and
97-82, $9,000,000 of appropriation for the sale of general
obligation bonds of the County for the aforesaid purpose.
SECTION 2. Authorization of Bonds. There are hereby authorized
for issuance and sale general obligation bonds of the County (the
"Bonds") in the maximum principal amount of $9,000,000, the proceeds
derived from the sale of which shall be used to pay all or part of
the cost of appropriations for the Qualified Wastewater Projects of
the County to be financed from proceeds of general obligation bonds
to be sold to the Department of Health made in Ordinance Nos. 96-68
and 97-82 for the fiscal years ending June 30, 1997, and June 30,
1998, as follows:
Ord. No. Proiect Amount
96-68 Paukaa Community Collector Sewer
$[2,000,000]1,700,000
96-68 Kalanianaole Collector Sewer, Phase II $3,000,000
97-82 Kaumana Gardens Collector Sewer $4,000,000
98_9 Wastewater Disposal System Uparadina $ 300,000
The proceeds derived from the sale of the Bonds may be used to
reimburse the General Fund for funds theretofore borrowed pursuant
to resolutions of the County Council to pay costs of certain
appropriations made in ordinance Nos. 96-68 and 97-82, as amended,
to be financed from general obligation bond funds.
SECTION 3. Details of Bonds. The Bonds authorized for issuance
and sale in Section 2 hereof shall be issued and sold in their