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Home My WebLink AboutCOM 0883.000 1996-1998 rf I Irr~ NtV OF ,,,Fk. 4~ C- 94 Stephen K. Yamashiro •T' Harry A. Takahashi Mayor Director S.K. Schulte I,F OF •HF} Deputy (90unfV 01 C'Malunii DEPARTMENT OF FINANCE 25 Aupuni Street, Room 118 • Hilo, Hawaii 96720-4252 (808) 961-8234 • Fax (808) 961-8248 n r _ June 8, 1998 The Honorable James Y. Arakaki, Chairman and Members of the Council County of Hawaii 25 Aupuni Street Hilo, Hawaii 96720 Dear Chairman Arakaki: In accordance with Section 47C-3, Hawaii Revised Statutes, I certify that the enclosed supplemental summary of indebtedness of the County of Hawaii as of June 4, 1998 is correct. The closing of the $775,600 Bond Issue to the United States Department of Agriculture for the Department of Water Supply for improvements to the Ookala, Paauilo, and Paauhau water systems on June 4, 1998, requires preparation of this report. Concurrence to the supplemental summary of the Chairman of the Finance Committee and the Corporation Counsel are also attached. s, Ve y 4Ta'~JuhLaashi Harry Director of Finance Encls. ~DJ comer. lia F (Y D 6 N ~ tu. x. _ F c 1&* 9 Stephen K. Yamashiro Harry A. Takahashi Mayor Director +i~r a.p S.K. Schutte F'OF M~ Deputy aounfv of ('~Afnfuan DEPARTMENT OF FINANCE 25 Aupum Street, Room 118 • Hilo, Hawaii 96720-4252 June 4, 1998 (808) 961-8234 • Fax (808) 961-8248 Mr. Aaron S.Y. Chung Chairman, Finance Committee County Council County of Hawaii Hilo, Hawaii 96720 Section 47C-3, Hawaii Revised Statutes, requires that a supplemental summary of the indebtedness of the County be prepared as of a date within 30 days of the delivery of a new bond issue. The enclosed summary as of June 4, 1998 is submitted for your review and concurrence. The closing of the $775,600 Bond Issue to the United States Department of Agriculture for the Department of Water Supply for improvements to the Ookala, Paauilo, and Paauhau water systems on June 4, 1998, requires preparation of this report. The initial disbursement on this bond issue of $142,00 is included in this summary. The attached tabular summary requires concurrences from both the Chairman of the Finance Committee and the Corporation Counsel. If you concur with this summary, please sign and return the original of this letter and keep the copy for your files. If you disagree with any item, please indicate the item of disagreement and your reasons therefor. After receiving your responses, I must transmit the summary and your responses to the County Council for its action. Thank you very much for your prompt attention to this matter. Please call me if you have any questions. ~lrl~`F V\ i ahash Harr J_a DirectFinance Encl. I concur/ o n -eencur with the tabular summary of the net funded debt of the County of Hawaii as of June 4, 1998. Reas ssfor non-concurrence, if any: Chairman, Finance C ittee County Coun il, Cou of Hawaii le) q 0 Date: 101, Stephen K. Yamashiro •T " Harry A. Takahashi Mayor Di t,,, S.K. Schutte -F OF H- Deputy G.Nnfv of Paiuall DEPARTMENT OF FINANCE 25 Aupuni Street, Room 118 • Hilo, Hawaii 96720-4252 June 4, 1998 (808) 961-8234 • Fax (808) 961-8248 Mr. Richard Wurdeman Corporation Counsel County of Hawaii 25 Aupuni Street Hilo, Hawaii 96720 Section 47C-3, Hawaii Revised Statutes, requires that a supplemental summary of the indebtedness of the County be prepared as of a date within 30 days of the delivery of a new bond issue. The enclosed summary as of June 4, 1998 is submitted for your review and concurrence. The closing of the $775,600 Bond Issue to the United States Department of Agriculture for the Department of Water Supply for improvements to the Ookala, Paauilo, and Paauhau water systems on June 4, 1998, requires preparation of this report. The initial disbursement on this bond issue of $142,00 is included in this summary. The attached tabular summary requires concurrences from both the Chairman of the Finance Committee and the Corporation Counsel. If you concur with this summary, please sign and return the original of this letter and keep the copy for your files. If you disagree with any item, please indicate the item of disagreement and your reasons therefor. After receiving your responses, I must transmit the summary and your responses to the County Council for its action. Thank you very much for your prompt attention to this matter. Please call me if you have any questions. Ha try A Takahashi Directo of Finance Encl. I eoncu jr concur with the tabular summary of the net funded debt of my f Hawaii as of June 4, 1998. Reasons -c n urre nce, if any: Cor oration Counsel County of Hawaii Date: COUNTY OF HAWAII Statement of Funded Debt June 4, 1998 1. Total Principal Amount of County Bonds Outstanding and Unpaid: a. County General Obligation Bonds $164,203,500 (Schedule A) b. Special Assessment Bonds 12,255,000 (Schedule B) c. Other Indebtedness 1,160,891 (Schedule C) d. State Revolving Fund Loans 29,085.982 (Schedule D) Grand Total of Bonds Outstanding and Unpaid $206,705,373 2. Exclusions from Grand Total: a. General Obligation Bonds maturing $ -0- in current fiscal year (Schedule A) b. General Obligation Bonds for 30,900,000 which full payment in moneys or securities have been irrevocably set aside (Schedule A) c. Special Assessment Bonds 12,255,000 (Schedule B) d. State Revolving Fund principal 55,240 maturing in current fiscal year (Schedule D) e. General Obligation Bonds 12,809,000 Reimbursable by the County Department of Water Supply (Schedule E) f. Pro Rata Share of 1978 8,291,517 Refunding Bonds for which funds are deposited in Invested Sinking Fund (Schedule F) Total Exclusions $ 64,310,757 Net Funded Debt of the County of Hawaii $142,394,616 at June 4, 1998 SUPPORTING SCHEDULES Statement of Funded Debt as of June 4, 1998 (Based on Records in Finance Department) Schedule A County General Obligation Bonds: Principal Amount General Obligation Outstanding Bonds Maturing in June 4, 1996 Current FY a. Advance-refunded bonds for which full payment irrevocably set aside: June 1, 1989 7,815,000 June 1, 1990 23,085,000 Sub-Total $30,900,000 $ -0- b. Other General Obligation Bonds: June 15, 1977 309,000 May 15, 1978 20,075,000 June 1, 1981 542,000 December 1, 1989 5,500,000 May 1, 1993 72,025,000 February 1, 1996 30,000,000 March 12, 1996 736,500 February 25, 1997 3,974,000 June 4, 1998 142,000 Sub-Total $133,303,500 $ -0- Total County General Obligation Bonds 164.203,500 $ -0- Schedule B Special Assessment Bonds: Principal Amount Outstanding 8/01/91 Kaloko Subdivision (17) $12.255.000 Schedule C Other Indebtedness: Principal Amount Outstanding Kulaimano Elderly Housing Project Mortgage (FmHA) $ 1.161.89 Schedule D State Revolving Fund Loans: Principal Amount Principal Maturing Outstanding In Current FY Hilo WWTP Phase II $10,227,383 $ Waiakea Houselot Sewer 370,693 Waiakea Mill Pond Sewer 1,152,560 55,240 Kealakehe Effluent Disposal 1,095,322 Alii Drive Interceptor A & B 2,517,648 Ainako Interceptor A & B 1,924,631 Alii Drive Interceptor C & D 3,217,478 Kalanianaole Collector Sewer 1,401,728 Waiaha Bay SPS 3,032,979 Alii Drive Interceptor E & F 1,396,413 Holualoa Sewage Pump Station 2,749,147 - $ 29.085.982 55.240 Schedule E General Obligation Bonds Reimbursable by the County Department of Water Supply: June 1, 1981 $ 542,000 December 1, 1989 (Refunding) 3,250,000 May 1, 1993 8,875,000 June 4, 1998 142,000 $12,809.000 Schedule F Pro Rata Share of 1978 Refunding Bonds for which funds are deposited in Invested Sinking Fund: Principal Amount of Securities held in Sinking Fund $11,186,613 Interest Earnings to be realized by County on Securities in Sinking Fund 2,382,801 Sinking Fund amount set aside for payment of Refunding Bonds $13,569,414 Maximum Aggregate Sinking Fund requirement $11,186,613 Lesser of current Sinking Fund amount or Maximum Aggregate Sinking Fund requirement $11,186,613 Pro Rata Basis (Principal Outstanding of $20,075,000/Principal Outstanding plus Interest to Maturity of $7,008,252.50 74.12% Amount excluded $ 8,291,517