HomeMy WebLinkAboutCOM 0745.001 2008-2010 '
William P. K Nancy E Crawford
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Mayor : ` Gvrclnr
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Deanna S Sako
�i• ; . , Deputy Dump/
• County of Hawaii
Finance Department
25 Aupum Street, Suns 2103 • 1 h1o, l Ia" nn 96720
(8081961 -8 • Fax (8081961 -8248
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March 15, 2010 Or-)
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J Yoshimoto, Council Chair and -r
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Members of the Hawai'i County Council i
Hawaii County Council cry
25 Aupuni Street
Hilo, Hawai'i 96720
Re: Finance Committee Agenda for March 16, 2010, Comm. 745
The referenced communication transmits a summary of the County's bonded
indebtedness. In response to questions from Councilmember Ford regarding bond
anticipation notes, the enclosed example is provided to illustrate the basic process that
takes advantage of this financing tool.
A representative of the Finance Department will be attending the Finance Committee
meeting via teleconference from Hilo, and will be available to explain the example and
answer questions if requested.
•
Nancy E. Crawford
Director of Finance
Enclosure
Comm. No. 7 cies•• ,,.
Ref. To: P1 FL
Ref. Dote MAR 1 6 2.010
Hawes County is an Equal Opportunity Provider and Employer
•
CIP Project Financing Example
Month 1 Month 6 Month 12 Month 18 Month 24 Month 30 Project Summary
Project
Appropriation $ 5,000,000 $ 5,000,000 Appropriated
Authorized for
Bond Ordinance $ 5,000,000 $ 5,000,000 Borrowing
Construction
Payments $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 5,000,000 Spent
Bond Anticipation
Notes $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 1,000,000 $ (4,000,000) $ -
Bond Sale $ 5,000,000 $ 5,000,000 Borrowed