HomeMy WebLinkAboutORD 1994-104 1992-1994COUNTY OF HAWAII. STATE OF HAWAII
BILL NO. 285
ORDINANCE NO. 94 104
AN ORDINANCE AMENDING ORDINANCE NO. 93-43 OF THE COUNTY OF
HAWAII ADOPTED ON MAY 5, 1993, AS AMENDED BY ORDINANCE NO.
93-75 ADOPTED ON JULY 28, 1993 RELATING TO THE ISSUANCE OF
GENERAL OBLIGATION BONDS.
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. Section 1 of Ordinance No. 93-43, as amended
by Ordinance 93-75, is hereby amended as follows:
"SECTION 1. Findings and Determinations. It is hereby
found and determined that (i) appropriations for public
improvement projects of the County of Hawaii, Hawaii to be
financed from general obligation bond funds have been made
in Ordinance No. 90-75, as amended, Ordinance No. 91-51,
as amended, Ordinance No. 92-74, as amended, [and]
Ordinance No. 93-50, as amended, and Ordinance No. 94-70.
as amended, for the fiscal years ending June 30, 1991,
June 30, 1992, June 30, 1993, [and] June 30, 1994, ~n
June 30, 1995, respectively; and (ii) the Department of
Water Supply of the County has requested the County
Council to authorize the issuance and sale of general
obligation bonds of the County in the principal amount of
$10,000,000, the proceeds derived from the sale of which
are to be expended by the Department of Water Supply for
the purpose of constructing and acquiring improvements and
betterments to, and extensions of, the properties of the
Water System of the Department of Water Supply, including
the acquisition of lands therefor. It is hereby further
found and determined that it is advisable and in the best
interest of the County to authorize the issuance and sale
of general obligation bonds of the County in the maximum
principal amount of $30,000,000, the proceeds derived from
the sale of which shall be used as follows: (a) not more
than $20,000,000 shall be used to pay all or a part of the
costs of appropriations referred to in clause (i) above
and to pay all or a part of the costs of issuance of such
bonds; and (b) $10,000,000 shall be used for the purpose
referred to in clause (ii) above."
SECTION 2. Section 2 of Ordinance No. 93-43, as amended
by Ordinance No. 93-75, is amended as follows:
"SECTION 2. Authorization of Bonds. There are hereby
authorized for issuance and sale general obligation bonds
of the County (the "Bonds") in the mazimum principal
amount of $30,000,000, the proceeds derived from the sale
of which shall be used as follows: (a) not more than
$20,000,000, shall be used: (z) to pay all or a part of
the costs of appropriations for public improvement
projects of the County to be financed from general
obligation bond funds made in Ordinance No. 90-75, as
amended, Ordinance No. 91-51, as amended, Ordinance No.
92-74, as amended, [and] Ordinance No. 93-50, as amended,
and Ordinance No 94-70 as amended for the fiscal years
ending June 30, 1991, June 30, 1992, June 30, 1993, [and]
June 30, 1994, and June 30. 1995, respectively; and (y) to
pay all or part of the costs of issuance of the Bonds,
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 cost of publications
required by law; and (b) $10,000,000, in accordance with
the request of the Department of Water Supply of the
County to the County Council to authorize the issuance and
sale of general obligation bonds of the County, shall be
expended by the Department of Water Supply for the purpose
of constructing and acquiring improvements and betterments
to, and extensions of, the properties of the Water System
of the Department of Water Supply, including the
acquisition of lands therefor. The cost of issuance of
the Bonds shall be allocated pro rata to each of the
particular improvements financed from the proceeds of the
Bonds; and appropriations therefor are hereby made. The
Department ~ Water Supply shall reimburse the County for
costs of issuance of the Bonds which are allocable to the
Water System improvements financed from the proceeds of
the Bonds. 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 No. 90-75, as amended, Ordinance No. 91-51, as
amended, Ordinance No. 92-94, as amended, [and] Ordinance
No. 93-50, as amended, and Ordinance No. 94-70. as
amended, to be financed from general obligation bond
funds."
SECTION 3. 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 4. This ordinance shall take effect upon its
approval.
INTRODUCED BY
IL ME ER, COUNTY OF HAWAII
Hilo, Hawaii
Date of Introduction: August 24, 1994
Date of 1st Reading: August 24, 1994
Date of 2nd Reading: September 7, 1994
Effective Date: September 13, 1994
CC __... _.--'-'----'-------'------
~ ~N_^.~a~TICN COUfaSEL
C~_'Ivi'( /OPgH/A~`dJ~i>ii
y~;
OFFICE OF THE COUN'T'Y CLERK
County of Hawaii C ~~ -,-
Hilo ,Hawaii f i
'94 SEP 13 ii'i lU 13
oFFic~ ~:,~ cl.~l..
Introduced By: James Y. Arakaki
Date Introduced: August 24, 1994
First Reading: August 24 , 1994
Published: August 31, 1994
REMARKS:
-< C OF ., rf ri.
ROLL CALL VOTE
AYES NOES ABS EX
ARAKAHI X
BONK-ABRAMSON X
CHILDS
DE LIMA X
DOMINGO }~
HALE X
RATH X
ROSEHILL X
SCHUITE X
Second Reading: September 7, 1994
To Mayor: September 7, 1994
Returned: September 13, 1994
Effective: September 13, 1994
Published: September 19, 1994
REMARKS:
ROLL CALL VOTE
AYES NOES ABS EX
ARAKAKI X
BONK-ABRAMSON X
CHILDS X
DE LIMA X
DOMINGO
HALE
RATH X
ROSEHILL X
SCHUTTE X
9
I DO HEREBY CERTIFY that the foregoing BILL was adopted by the County Council and published as
indicated above.
APPROVED as la
FORM and LEGA7LI/7~Y
~~.1~~~ ~ /:fh~ COUNCIL CHAIRMAN
COUNTY OF HAWAII
cote y//2~G~
A rov d/ d this ~~ da
of P ~ l~^- ~ , 19 4' ~ y
OR, COUN'~WAII
Bill No.: 2 $ 5
Reference: C- 1190
Ord. No.: ~'~ 1~`=