HomeMy WebLinkAboutORD 1995-115 1994-1996COUNTY OF HAWAII ,.'~_STATE OF HAWAII
BILL NO. 134
ORDINANCE NO. 95 1 X15
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, AS AMENDED BY ORDINANCE
NO. 94-104 ADOPTED ON SEPTEMBER 7, 1994, RELATING TO THE
ISSUANCE OF GENERAL OBLIGATION BONDS.
HE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. Section 1 of Ordinance No. 93-43, as amended
by Ordinance No. 93-75 and Ordinance No. 94-104, 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, 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, Ordinance No.
93-50, as amended, [and] Ordinance No. 94-70, as amended,
and Ordinance No. 95-75, as amended, for the fiscal years
ending June 30, 1991, June 30, 1992, June 30, 1993, June
30, 1994, [and] June 30, 1995 and June 30, 1996,
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 and Ordinance No. 94-104, is
amended as follows:
"SECTION 2. Authorization of Honds. There are hereby
authorized for issuance and sale general obligation bonds
of the County (the "Bonds") 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: (x) 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, Ordinance No. 93-50, as amended, [and]
Ordinance No. 94-70, as amended and Ordinance No. 95-75.
as amended, for the fiscal years ending June 30, 1991,
June 30, 1992, June 30, 1993, June 30, 1994, [and] June
30, 1995 and June 30. 1996, 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 of 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, Ordinance No.
93-50, as amended, [and] Ordinance No. 94-70, as amended
and Ordinance No. 95-75, as amended, to be financed from
general obligation bond funds."
- 2 -
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 MEMBER, COUNTY OF HAWAII
Hilo, Hawaii
Date of Introduction:
Date of 1st Reading:
Date of 2nd Reading:
Effective Date:
REF.: C-628
A~?[a0~/ED as to
FORFJI and LECzALITY
-~ _ ( C
CO.°.POR.iTIC~I COGi`JSEL
CCUNTY OF HA\NAII
SEP 2 2 1995
Hate ------------------------_..........
September 6, 1995
September 6, 1995
September 20, 1995
September 26, 1995
_ 3 -
OFFICE OF THE COUNTY CLERK
County of Hawaii
Kona Hawaii
Introduced By: James Y. Arakaki
Date Introduced: September 6, 1995
First Reading: September 6, 1995
Published: Septanber 14 , 1995
REMARKS:
Second Reading: Seotanber 20, 1995
To Mayor: September 21. 1995
Returned: Septenber 27, 1995
Effective: September 26, 1995
Published October 12, 1995
REMARKS:
ROLL CALL VOTE
. _' AYES~~ NOES ABS EX
~~~ X
Bonk-Abramson X
Childs X
De Lima X
Domingo X
Osorio X
Ram X
Ray X
Smith 7{
9 0 0 0
ROLL CALL VOTE
AYES NOES ABS EX
Arakaki }{
Bonk-Abramson X
Childs X
De Lima X
Domingo
Osorio X
Rath X
Ray X
Smith }{
8 0 1 0
I DO HEREBY CERTIFY that the foregoing BILL was adopted by the County Council and published as
indicated abov : - - --~ '
,..., APPS?^;~'
/~ / _ _ - COU~JNCIL CHAIRMAN ~~~
.. .rO:;..TION COU; ^ ! ~GG~i~%~Gtil~-
~/ ~~~*~ i COUNTY CLERK
/.~o~/ Sri 7 i
of,
MA R, COUNTY OF HA{ All
Bill No.: 1:i4
Referrnce: pC-628/FC-131
Ord. Na.: °S 1-15