HomeMy WebLinkAboutCOM 0101.011 1998-2000 ~
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J. CURTIS TYLER, III ~ ~y6't~~. Tel: (808) 961-8273
Councilrnember Fax: (808) 969-3291
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COUNTY COUNCIL r
County of Hawaii
Hawaii County Buildins
25 Aupuni Street
Hilo, Hawaii 96720
January 8, 1999
MEMORANDUM:
TO: James Y. Arakaki, Chairman and All Council Members
Hawaii County Council i
FROM: J. Curtis T ter, III, Council Member
RE: Statement of Funded Debt
Attached please find a Statement of Funded Debt dated January 4, 1999 provided by the
Director of Finance in response to my memorandum of December 29, 1998. This
material will provide current information on the County's funded debt.
Please circulate copies to all Council Members in conjunction with Bi11209.
Thank you for your attention to this matter. If you have any questions or if I can be of
any help, please call me at 326-5684.
Attachment
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1999
77-6399 Nalani St., Suite 1-A Kailua-Kona, Hawaii 96740 Kona TeleFhone: (808) 326-5684 Pax: (808) 326-5697
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Stephen K. Yamashiro ~y V~ Harry A. Takahashi
Mayor Director
S. K. Schulte
ii, . Deputy
County of Hawaii t_,`
DEPARTMENT OF FINANCE
25 Aupuni Street, Room I18 • Hilo, Hawaii 96720-4252
(808)961-8234. (808)961-8248
January 4, 1999
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TO: Curtis Tyler, III ~ _
Council Member
FROM: Harry A. Takahash~ F-J
Finance Director
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SUBJ: County of Hawaii
Statement of Funded Debt
January 4, 1999
As requested in your memorandum of December 29, 1998, attached is the above-captioned
report as updated by Treasurer Frank Manalili.
aeb
attmt
cc: Connie Kiriu, Legislative Auditor
COUNTY OF HAWAII
Statement of Funded Debt
January 4, 1999
1. Total Principal Amount of County Bonds
Outstanding and Unpaid:
a. County General Obligation Bonds $163,054,850
(Schedule A)
b. Special Assessment Bonds 12,255,000
(Schedule B)
c. Other Indebtedness 1,153,382
(Schedule C)
d. State Revolving Fund Loans 29,520,638
(Schedule D)
Grand Total of Bonds Outstanding and Unpaid $205.983,870
2. Exclusions from Grand Total:
a. General Obligation Bonds maturing $ 6,284,500
in current fiscal year
(Schedule A)
b. General Obligation Bonds for 30,460,000
which full payment in moneys or
securities have been irrevocably
set aside (Schedule A)
c. Special Assessment Bonds 12,255,000
(Schedule B)
d. State Revolving Fund principal 1,005,195
maturing in current fiscal year
(Schedule D)
e. General Obligation Bonds 12,662,350
Reimbursable by the County
Department of Water Supply
(Schedule E)
f. Pro Rata Share of 1978 8,493,995
Refunding Bonds for which
funds are deposited in
Invested Sinking Fund (Schedule F)
Total Exclusions $ 71,161,040
Net Funded Debt of the County of Hawaii 134 822.830
at January 4, 1999
SUPPORTING SCHEDULES
Statement of Funded Debt as of January 4, 1999
(Based on Records in Finance Department)
Schedule A
County General Obligation Bonds: Principal Amount General Obligation
Outstanding Bonds Maturing in
January 4, 1999 Current FY
a. Advance-refunded bonds
for which full payment
irrevocably set aside:
June 1, 1989 7,375,000
June 1, 1990 23,085,000 1,290,000
Sub-Total $30,460,000 $ 1,290,000
b. Other General Obligation
Bonds:
June 15, 1977 293,000
May 15, 1978 20,075,000 1,720,000
June 1, 1981 542,000 19,000
December 1, 1989 4,600,000
May 1, 1993 72,025,000 3,305,000
February 1, 1996 30,000,000 1,075,000
March 12, 1996 736,500 27,500
February 25, 1997 3,878,000 128,500
June 9, 1998 495,350 9,500
Sub-Total $132,594,850 $6,284,500
Total County General
Obligation Bonds ~1~, 054 , 8~4 $ 7,_~~,~QQ
Schedule B
Special Assessment Bonds: Principal Amount
Outstanding
8/01/91 Kaloko Subdivision (17) 12.255,000
Schedule C
Other Indebtedness: Principal Amount
Outstanding
Kulaimano Elderly Housing
Project Mortgage (FmHA) 1,153,38
Schedule D
State Revolving Fund Loans: Principal Amount Principal Maturing
Outstanding In Current FY
Hilo WWTP Phase II $10,227,383 $ 570,345
Waiakea Houselot Sewer 350,021
Waiakea Mill Pond Sewer 1,097,320 56,621
Kealakehe Effluent Disposal 1,038,804
Alii Drive Interceptor A & B 2,454,569 63,955
Ainako Interceptor A & B 1,875,159 99,981
Alii Drive Interceptor C & D 3,379,160 77,593
Kalanianaole Collector Sewer 1,371,005 31,186
Waiaha Bay SPS 3,095,020 68,806
Alii Drive Interceptor E & F 1,765,101 29,922
Holualoa Sewage Pump Station 2,867,096 56.786
?9,520,638 1,005,195
Schedule E
General Obligation Bonds Reimbursable
by the County Department of Water Supply:
June 1, 1981 $ 592,000
December 1, 1989 (Refunding) 2,800,000
May 1, 1993 8,875,000
June 4, 1998 445,350
$12.662.350
Schedule F
Pro Rata Share of 1978 Refunding Bonds for
which funds are deposited in Invested Sinking Fund:
Principal Amount of Securities
held in Sinking Fund $11,186,613
Interest Earnings to be
realized by County on
Securities in Sinking Fund 2,382,801
Sinking Fund amount set aside
for payment of Refunding Bonds $13,569,414
Maximum Aggregate Sinking
Fund requirement $11,186,613
Lesser of current Sinking Fund
amount or Maximum Aggregate
Sinking Fund requirement 11.186.613
Pro Rata Basis (Principal Outstanding
of $20,075,000/Principal Outstanding
plus Interest to Maturity of
$6,363,708.75 75.93%
Amount excluded $ 8,493,995