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HomeMy WebLinkAboutCOM 0972.029 2008-2010 lip\ -41,2-'``I II INTERNATIONAL LONGSII(1RE & WAREHOUSE UNION LOCAL OFFICE • 451 ATKINSON DRIVE • HONOLULU, HAWAII 96814 • PHONE 949 -4161 HAWAII DIVISION: 100 West Lanikaulo Street, Hilo, Hawaii 96720 • OAHU DIVISION: 451 Atkinson Drive, Honolulu, Hawaii 96814 �+ MAUI COUNTY DIVISION: 896 Lower Main Street, Wailuku, Hawaii 96793 • KAUAI DIVISION: 4154 Hardy Street, Lihue, Hawaii 96766 LOCAL 142 November 30, 2010 J Yoshimoto, Chair Hawaii County Council 25 Aupuni Street Hilo, Hawaii 96720 Dear Chairman Yoshimoto and Members of the Hawaii County Council: Aloha and Good Morning! My name is Wallace A. Ishibashi, Jr. and I am a Business Agent for the ILWU Local 142, Hawaii Division here on the Big Island. We need to recognize and take advantage of the opportunities that tough times provide by funding capital improvement projects that will benefit our island now and in the future. We support Mayor Kenoi and his administration's proposal of a $56 million bond authorization in Bill 311. To take advantage of these opportunities with these funds, the County will build important roads, parks, housing and waste disposal projects that our communities desperately need. The bond authorization will position us to take advantage of near - record low interest rates and any additional federal stimulus programs that offer interest rebates. We save more money while employing workers to keep our families strong and dollars flowing throughout our local economy. County of Hawai ' i has been evaluated as a good investment risk because of our sound approach to budgeting and willingness to take the necessary steps to keep our financial outlook strong. Timing is everything and our Mayor Kenoi has preserved our borrowing capacity to be used now at the right time. The debt will be paid down over 20 years with the bulk of it paid as our economy improves. Such long -term borrowing is the normal way governments manage the cost of capital improvement projects. We commend the actions of our Mayor, our County Council, in taking favorable action to authorize the sate of bonds for these CIP. Respectfully submitted, ILWU LOCAL 142, HAWAII DIVISION / Wallace A. Ishibashi, Jr. Business Agent Comm. No. Ref. To Ref. Date V 3 0 26!2 "AN INJURY TO ONE IS AN INJURY TO ALL"