The URL can be used to link to this page

Home My WebLink AboutCOM 0865.000 2008-2010William P. Kenoi Mayor July 6, 2010 The Honorable J Yoshimoto, Chairman And Members of the Council County of Hawaii 25 Aupuni Street Hilo, Hawaii 96720 Dear Chairman Yoshimoto: Very truly yours, Nancy E. Crawfor Director of Financ Encls. County of Hawaii DEPARTMENT OF FINANCE Mailing Address: 25 Aupuni Street, Room 1102 • Hilo, Hawai'i 96720 -4245 (808) 933 -6240 • (808) 961 -8946 (FAX) County of Hawat i is an Equal Opportunity Provider and Employer Complaints of discrimination should be sent to USDA, Director, Office of Civil Rights, Washington, DC 20250 -9410 Or call (202) 720 -5964 (Voice and TDD) Nancy E. Crawford Director Deanna S. Sako Deputy Director Pursuant to Chapter 47C, Hawai'i Revised Statutes, I enclose for filing the tabular summary of bonded indebtedness of the County of Hawaii as of June 30, 2010. Concurrence by the Chairman of the Finance Committee and the Corporation Counsel are attached. COMM: No. h7 Ref. To: F : ¢. L-oto JUN 0 7 2010 William P. Kenoi Mayor July 1,2010 Mr. Lincoln Ashida Corporation Counsel County of Hawaii 101 Aupuni Street, Suite 325 Hilo, Hawaii 96720 Pursuant to the provisions of Hawaii Revised Statutes (HRS), Section 47C -2, I submit for your review and concurrence a tabular summary (with supporting schedules) of the net funded debt of the County of Hawaii as of June 30, 2010. The tabular summary also serves as a supplemental summary of indebtedness that is required by HRS, Section 47C -3 whenever new bonds or notes are issued. A $4 million bond anticipation note was issued on June 3, 2010. An issuance of $60 million in bonds is scheduled to be closed on July 28, 2010. The attached tabular summary requires concurrence from both the Chairperson of the Finance Committee and the Corporation Counsel. If you concur with this summary, please sign and return the original of this letter and keep the copy for your files. If you disagree with any item, please indicate the item of disagreement and your reasons therefor. After receiving your responses, I must transmit the summary and your responses to the County Council for its action. Thank you very much for your prompt attention to this matter. Please call me if you have any questions. Nancy Director Encl. Crawford f Finance Corporation Counsel County of Hawaii County of Hawai`i DEPARTMENT OF FINANCE 25 Aupuni Street, Room 1102 • Hilo, Hawaii 96720 (808) 933 -6240 • (808) 961 -8946 (FAX) do not concur with the tabular summary of the net funded debt of the County of Hawaii as of June 30, 2010. Reasons for non - concurrence: Date: JUL - 1 2010 County of Hawaii is an Equal Opportunity Provider and Employer Complaints of discrimination should be sent to USDA, Director, Office of Civil Rights, Washington, DC 20250 -9410 Or call (202) 720 -5964 (Voice and TDD) Nancy E. Crawford Director Deanna S. Sako Deputy Director William P. Kenoi Mayor July 1, 2010 Councilman Dennis Onishi Chairman, Committee on Finance Hawaii County Council 25 Aupuni Street Hilo, Hawaii 96720 Nancy E. rawford Director of Finance Encl. Chairman, Finance Committee County Council, County of Hawai`i County of Hawai DEPARTMENT OF FINANCE 25 Aupuni Street, Room 1102 • Hilo, Hawaii 96720 -4245 (808) 933 -6240 • (808) 961 -8946 (FAX) Pursuant to the provisions of Hawaii Revised Statutes (HRS), Section 47C -2, I submit for your review and concurrence a tabular summary (with supporting schedules) of the net funded debt of the County of Hawaii as of June 30, 2010. The tabular summary also serves as a supplemental summary of indebtedness that is required by HRS, Section 47C -3 whenever new bonds or notes are issued. A $4 million bond anticipation note was issued on June 3, 2010. An issuance of $60 million in bonds is scheduled to be closed on July 28, 2010. The attached tabular summary requires concurrence from both the Chairperson of the Finance Committee and the Corporation Counsel. If you concur with this summary, please sign and return the original of this letter and keep the copy for your files. If you disagree with any item, please indicate the item of disagreement and your reasons therefor. After receiving your responses, I must transmit the summary and your responses to the County Council for its action. Thank you very much for your prompt attention to this matter. Please call me if you have any questions. Nancy E. Crawford Director Deanna S. Sako Deputy Director 1 concur /do not concur with the tabular summary of the net funded debt of the County of Hawaii as of June 30, 2010. Reasons for non - concurrence: Date: County of Hawai'i is an Equal Opportunity Provider and Employer Complaints of discrimination should be sent to. USDA, Director, Office of Civil Rights, Washington, DC 20250 -9410 Or call (202) 720 -5964 (Voice and TDD) 1 Total Principal Amount of County Debt Outstanding and Unpaid: COUNTY OF HAWAII Statement of Funded Debt June 30, 2010 a. County General Obligation Bonds/ $ 325,894,846 Notes (Schedule A) b. Special Assessment Bonds $ 1,715,000 (Schedule B) c. Other Indebtedness $ 915,391 (Schedule C) d. State Revolving Fund Loans $ 23,658,781 (Schedule D) Grand Total of Debt Outstanding & Unpaid $ 352,184,018 2. Exclusions from Grand Total: a. General Obligation Bonds maturing $ 20,672,547 in current fiscal year (Schedule A) b. Special Assessment Bonds $ 1,715,000 (Schedule B) c. State Revolving Fund principal maturing in current fiscal year (Schedule D) d. General Obligation Bonds Reimbursable by the County Department of Water Supply (Schedule E) e. General Obligation Bonds Reimbursable by Kona Coastview & Kona Wonderview Subdivision lot owners. (Schedule F) $ 3,107,839 $ 29,673,292 $ 3,131,694 Total Exclusions $ 58,300,372 Net Funded Debt of the County of Hawaii $ 293,883,646 June 30, 2010 Schedule A SUPPORTING SCHEDULES Statement of Funded Debt as of June 30, 2010 (Based on Records in Finance Department) County General Obligation Principal Amount General Obligation Bonds /Notes: Outstanding Bonds Maturing in Date of Issue June 30, 2010 FY 2010 -11 May 1, 1993 $ 19,280,000 $ 6,080,000 July 25, 2001 1,080,000 1,080,000 April 16, 2003 30,345,000 1,610,000 September 8, 2004 42,175,000 3,675,000 October 4, 2004 3,228,055 96,361 October 20, 2004 244,791 4,016 February 23, 2006 45,215,000 1,765,000 January 30, 2007 115,180,000 4,695,000 April 28, 2008 147,000 2,170 December 10, 2008 50,000,000 1,665,000 * February 25, 2010 15,000,000 * June 3, 2010 4,000,000 Total County General Obligation Bonds /Notes $ 325,894,846 $ 20,672,547 Notes payable Schedule B Special Assessment Bonds: 12/27/01 Kaloko Subdivision Refunding (17) Schedule C Principal Amount Outstanding $ 1,715,000 Other Indebtedness: Principal Amount Outstanding Kulaimano Elderly Housing Project Mortgage (FmHA) $ 915,391 Schedule D State Revolving Fund Loans: Schedule E General Obligation Bonds Reimbursable by the County Department of Water Supply: May 1, 1993 $ 2,375,000 July 25, 2001 375,652 Sept 8, 2004 227,756 Oct 20, 2004 244,791 Feb. 23, 2006 22,607,500 Jan. 30, 2007 5,752,612 April 28, 2008 147,000 31,730,311 Less Amount Already Excluded in item 2a (2,057,019) $ 29,673,292 Principal Amount Principal Maturing Outstanding in FY 2010 -11 Hilo WWT Phase II $ 2,359,160 $ 767,050 Waiakea Houselots Sewer 85,508 27,802 Waiakea Mill Pond Sewer 316,208 76,148 Kealakehe Effluent Disposal 315,632 76,010 Alii Drive Interceptor A & B 812,290 194,254 Ainako Interceptor A & B 595,024 127,484 Alii Drive Interceptor C & D 1,223,292 212,507 Kalanianaole Collector Sewer 520,969 88,709 Waiaha Bay SPS 1,252,512 213,742 Alii Drive Interceptor E & F 819,530 126,258 Holualoa Sewer Pump Station 1,246,504 176,287 Paukaa Community Collector 1,128,752 113,843 Waiakea Houselots Phase II 2,707,583 270,761 Pahoehoe WWPS 1,769,889 140,843 Kalanianaole HISR 1,270,044 74,351 HI Cty Cesspool Conversion 7,235,884 421,789 $ 23,658,781 $ 3,107,839 Schedule F Principal Amount Outstanding General Obligation Bonds Reimbursable by Kona Coastview & Kona Wonderview Subdivision lot owners. $ 3,228,055 Less Amount Already Excluded in item 2a (96,361) $ 3,131,694