HomeMy WebLinkAboutORD 1991-059 1988-1992COUNTY OF HAWAII `'STATE OF HAWAII
BILL NO. 430
(Draft 2)
ORDINANCE NO. 91 59
AN ORDINANCE AMENDING ORDINANCE NO. 90-57 OF THE COUNTY OF HAWAII
ADOPTED ON APRIL 18, 1990, RELATING TO THE ISSUANCE OF GENERAL
OBLIGATION BONDS FOR THE PURPOSE OF FINANCING QUALIFIED WASTEWATER
PUBLIC IMPROVEbIENTS OF THE COUNTY OF HAYIAII BY REDUCING THE
AUTHURI2ATION FROfd $19,746,000 TO $15,275,111.
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. Section 2 of Ordinance No. 90-57 is amended to read
as follows:
"SECTION 2. Authorization of Bonds. There are hereby
authorized for issuance and sale general obligation bonds of the
County in the principal amount of [Nineteen Million Seven Hundred
Forty Six Thousand Dollars ($19,746,000)] Fifteen Million Two
Hundred Seventy Five Thousand One Hundr d Eleven Dollars
S$15,275,111), 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 No. 89-86 for the fiscal year ending June
30, 1990 and Ordinance 90-7 for the fiscal vear endinq June 30~
1991, as follows:
Ordinance No. Project Amount
89-86 Old Waiakea Mill Sewer [$725,000]
89-86 Waiakea Houselot Sewer [ 400,000]
[89-86 Old ICOna Airport SPS and FM
90-75 Kealakehe Effluent Disposal Svstem
89-86 Hilo 6astewater Treatment &
Conveyance [16,100,000]
TOTAL
[$19,746,000]
$ 651,700
399,100
2,521,000]
1,500,000
12,724,311
$15,275.111
The proceeds derived from the sale of such bonds may also be used to
repay funds borrowed from the General Fund pursuant to one or more
resolutions of t2ie Council."
SECTION 2. Material to be repealed is bracketed. New materials
is underscored. In printiny this ordinance, the brackets, bracketed
material, and underscoring need not be included.
SECTION 3. If any provision of this ordinance or the
application thereof to any person or circumstances is held invalid,
such invalidity shall not affect other provisions or applications of
the ordinance which can be given effect without the invalid
provision or application, and to this end, the provisions of this
ordinance are declared to be severable.
SECTION 4. This ordinance shall take effect upon its approval.
Introduced By:
_.-~" ~ ~
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COUNCIL MEMBER, COUNTY OF HAWAII
Hilo, Hawaii
Date of Introduction: June 5, 1991
Date of 1st Reading: June 5, 1991
Date of 2nd Reading: June 19, 1991
Effective Date: June 25, 1991