HomeMy WebLinkAboutCOM 0570.003 2008-2010
DENNIS "FRESH" ONISHI OF N Phone: (808) 961-8571
• % • Fax: (808) 961-8912
Council Member ~p
Council District 4 Email: donishi@co.hawaii.hi.us
•f1T f o H'i,r~~ .
Mailing Address: Business Address:
(Former County Building) 333 Kalauea Avenue, Second Floor
25 Aupuni Street Hawaii County Council Ben Franklin Building
Hilo, Hawai `i 96720 County of Hawai'r . Hilo, Hawai `i 96720
MEMORANDUM C" c
t -
TO: J Yoshimoto, Council Chair
and Council Members
J V,
Y
FROM: Dennis "Fresh" Onishi, Council Member
DATE: November 5, 2009
SUBJECT: Bill 160, Draft 2, Relating the Issuance of General Obligation Bonds for the
Department of Water Supply
Attached please find Bill 160, Draft 2. Bill 160 was amended by the contents of Communication
No. 570.1 as duly approved at the November 4, 2009 Council meeting.
Specifically, Draft 2 amended section 13 as follows (the amendments below are illustrated in
Ramseyer format with respect to the contents of Bill No. 160, and are in bold for illustrative
purposes only):
"SECTION 13. Reimbursement of Expenditures. The County expects that [it] the County
or the Water Department may pay certain capital expenditures for the Projects prior to the
issuance of the Bonds or Notes authorized hereby, and reasonably expects to reimburse such
expenditures from the proceeds of the Bonds or Notes. The County hereby declares its official
intent to use proceeds of the Bonds or Notes to reimburse itself or the Department for future
expenditures in connection with such Projects. This ordinance is adopted in part for the
purpose of establishing compliance with the requirements of Section 1.150-2 of the Treasury
Regulations. This ordinance shall be reasonably available for inspection at the office of the
County Clerk commencing within fifteen (15) days after its adoption by the Council."
DFO/kk
Attachments Comm. No. S ~O•
r• ` Ref. To:
Ref. Date_ROV 0 4 2QQ
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