HomeMy WebLinkAboutCOM 0576.000 2008-2010
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William P. Kenoi Nancy E. Crawford
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Mayor ' Director
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Deanna S. Sako
>t oF'M?~ Deputy Director
County of Hawaii
Finance Department
25 Aupuni Street, Room 118 • Hilo, Hawaii 96720
(808) 961-8234 Fax(808)961-8248
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October 9, 2009
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The Honorable J Yoshimoto, Chairman 1-.
and Members of the Council
County of Hawai' i -p
25 Aupuni Street
Hilo, Hawaii 96720 C4
Dear Chairman Yoshimoto and Council Members:
COUNTY OF HAWAI'1
GENERAL OBLIGATION BOND ANTICIPATION NOTE
SERIES A, NUMBERED R-1
Pursuant to Ordinance Nos. 04-59, 04-154, 07-120, 08-106, 08-148, 09-92 and 09-92A
(the "Authorizing Ordinances"), I have proceeded on behalf of the County of Hawai' i (the
"County") with the issuance and sale of the above-referenced bond anticipation note in the
principal amount of $5,000,000 (the "Note"), and wish to submit the following report on the sale
and issuance thereof:
1. The Note was issued on the October 9, 2009 in the principal amount of
$5,000,000 and was sold at a price equal to such principal amount.
2. The Note matures on February 25, 2010 and bears interest (payable at maturity)
at the rate of 1.25% per annum. The Note is not subject to redemption prior to maturity.
3. Pursuant to the Authorizing Ordinances, the Note is being issued in anticipation
of the issuance of general obligation bonds, and is intended to be repaid from the proceeds of
such bonds when issued. Notwithstanding the foregoing, repayment of the Note shall not be
conditioned upon the issuance of such bonds. The Note is a general obligation of the County.
Under the Constitution and laws of the State of Hawaii, the full faith and credit of the County are
pledged to the payment of the principal of and interest on the Note.
Sincerely,
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Nancy rawford Comm. No. J T~
Director of Finance Ref. To:
Ref. Date OCT 13.2009
Hawai'i County is an equal opportunity provider and employer.