HomeMy WebLinkAboutORD 1993-074 1992-1994COUNTY OF HAWAII STATE OF HAWAII
BILL NO. 96
ORDINANCE NO. 9~
AN ORDINANCE AMENDING ORDINAPJCE N0. 90-56 OF THE COUPTTY OF HAWAII
ADOPTED ON APRIL 18, 1990, AS AMENDED BY ORDINANCE NO. 91-86 ADOPTED
ON AUGUST 21, 1991, 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, adopted on
April 18, 1990, as amended by Ordinance No. 91-86 adopted on
August 21, 1991, is further amended 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
Amount
[87-59] 90-75 Old Waiakea Mill Sewer $ 400,000
[87-59] 9~ Kealakehe Effluent Disposal System 800,000
Subtotal $ 1,200,000
88-81 Hilo Wastewater Treatment & Conveyance $10,100,000
88-81 Old Kona Airport Pumping Station & Force Main 900,000
88-81 Kealakehe Effluent Disposal System 200,000
88-81 91-51 West Hawaii Landfill 4,100,000
Subtotal $15,300,000
89-86 West Hawaii Landfill $ 8,300,000
89-86 Hilo Wastewater Treatment & Conveyance 2,250,000
89-86 Waiakea Houselot Sewer 200,000
89-86 Old Airport Pumping Station 1,561,000
Subtotal $12,311,000
TOTAL
$28,811,000
Unexpended proceeds initially designated for any of the
aforementioned projects, may be used to pay all or part of the cost
of appropriation for public improvement projects of the County made
in Ordinance No. 91-51, as amended, Ordinance No. 92-74, as amended
and Ordinance No. 93-50, as amended, for the fiscal years ending
June 30, 1992, June 30, 1993 and June 30, 1994, respectively.
Unexpended proceeds may be the result of project completion and/or
project being funded through alternative sources.
Five Hundred Seventy Six 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. Material to be deleted is bracketed. New material
is underscored. In printing this ordinance, the brackets, bracketed
material, and underscoring need not be included.
SECTION 3. This ordinance shall take effect upon its approval.
Hilo, Hawaii
Date of Introduction: July 14, 1993
Date of 1st Reading: July 14, 1993
Date of 2nd Reading: July 28, 1993
Effective Date: August 5, 1993