HomeMy WebLinkAboutORD 1991-086 1988-1992COUNTY OF HAWAII - NATE OF HAWAII
BILL NO. 462
ORDINANCE NO. 91 86
AN ORDINANCE AMENDING ORDINANCE NO. 90-56 OF THE COUNTY OF HAWAII ADOPTED
ON APRIL 18, 1990, RELATING TO THE ISSUANCE OF GENERAL OBLIGATION BONDS.
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. Section 2 of Ordinance No. 90-56 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 Twenty Nine Million Three Hundred Eighty Seven
Thousand Dollars ($29,387,000). Twenty Eight Million Eight Hundred
Eleven Thousand Dollars ($28,811,000) of the proceeds derived from the
sale of such bonds, or any series thereof, shall be used to pay all or
part of the cost of appropriations for the public improvement projects of
the County to be financed from general obligation bond funds made in
Ordinance No. 87-59, No. 88-81, No. 89-86, No. 90-75 and No. 91-51, for
the fiscal years ending June 30, 1988, June 30, 1989, June 30, 1990, June
30, 1991, and June 30, 1992, respectively, as follows:
Ordinance No.
Project
[87-59) 90-75 Old Waiakea Mill Sewer
[87-59] 90-75 Kealakehe Effluent Disposal System
Subtotal
88-81 Hilo Wastewater Treatment & Conveyance
88-81 Old Kona Airport Pumping Station & Force Main
88-81 Kealakehe Effluent Disposal System
88-81, 91-51 West Hawaii Landfill
Subtotal
89-86 West Hawaii Landfill
89-86 Hilo Wastewater Treatment & Conveyance
89-86 Waiakea Houselot Sewer
89-86 Old Airport Pumping Station
Subtotal
TOTAL
Amount
$ 400,000
800,000
$ 1,200,000
$10,100,000
900,000
200,000
4,100,000
$15,300,000
$ 8,300,000
2,250,000
200,000
1.561,000
$12.311,000
Five Hundred Seventy Sia Thousand Dollars ($576,000) of the proceeds
derived from the sale of such bonds, or any series thereof, shall be used
to pay all or part of the cost of issuance of such bonds, or any series
thereof, including without limitation, the initial fees of paying agents
and registrars, the fees of any financial consultants and bond counsel,
underwriter's discount, the cost of preparation of any official
statement, notice of sale and definitive bonds, and any costs of
publications required by law, and such costs of issuance shall be
allocated pro rata to each of the particular public improvements financed
from such bonds, or any series thereof. 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 the Council."
SECTION 2. This ordinance shall take effect upon its approval.
Introdu ed By:
COUNCIL MEMBER, COUNTY OF HAWAII
Hilo, Hawaii
Date of Introduction:
August
7,
1991
Date of 1st Reading:
August
7,
1991
Date of 2nd Reading:
August
21,
1991
Effective Date:
August
29,
1991