HomeMy WebLinkAboutCOM 1083.000 2012-2014 J�SV Os Na',
William P. Kenoi � �Ii;�: Nancy E. Crawford
Director
Mayor �1�� 't"' .��:•
Deanna S. Sako
•ij S: ,.q;°•'�``,- Deputy Director
County of Hawaii
Finance Department
25 Aupuni Street, Suite 2103 • Hilo,Hawai`i 96720 .n -.��
(808)961-8234 • Fax(808)961-8569 _
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September 26, 2014 w ;
J Yoshimoto, Council Chair VI —
Members of the Council
County of Hawai`i
25 Aupuni Street
Hilo, Hawai`i 96720
Re: Resolution Declaring the County's Intent to Reimburse Itself Via Bond Proceeds
The current lava flow on the Island of Hawai`i poses a significant threat to certain roadways in
the Puna District which could cut access to and from some area communities. In response to this
threat, the County is undertaking construction of emergency roads to provide alternative means
of access to these communities.
Due to the immediacy of this threat, the County will be called upon to advance funds for this
construction before it is in a position to authorize and issue general obligation bonds for such
purpose. Enclosed is a resolution to express the County's intent to reimburse itself for the costs
of the emergency road projects from the proceeds of its general obligation bonds, not to exceed
$20,000,000, when issued.
Due to the time sensitive nature of this matter we request that this resolution be waived from the
Finance Committee and be placed on the October 15, 2014 Council agenda. If there are any
questions, please do not hesitate to call Treasurer Mike Okumoto at 933-6240.
Nancy Crawford
Director of Finance
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Hawaii County is an Equal Opportunity Provider and Employer Ref. Date SEP 2 9 2014
VALERIE T. POINDEXTER *tY Os p, KAREN EOFF
Chairperson I,� b�%¢; BRENDA FORD
:.:6:'!' \:',A:. DRU KANUHA
GREGGOR ILAGAN - ' ZENDO KERN
Vice Chair ,,.fj� " �•�,% DENNIS"FRESH"ONISHI
•'''. MARGARET WILLE
J YOSHIMOTO
HAWAII COUNTY COUNCIL
County of Hawai`i
Hawaii County Building
25 Aupuni Street
Hilo, Hawaii 96720
September 26, 2014
J Yoshimoto, Council Chair
Hawai`i County Council
25 Aupuni Street
Hilo, Hawai`i 96720
RE: Resolution No. 554-14 : Declaring the Official Intent of the County of Hawai`i to
Reimburse Itself from Bond Proceeds for Funds Advanced to Pay Costs of the Lower Puna
Emergency Road Projects Being Undertaken by the County.
Pursuant to Section 2(g) of Rule 4 of the Rules of Procedure of the Council of the County of
Hawai`i, this written request is submitted with my approval that the above-referenced matter be
waived from the Committee on Finance to the full Council for immediate action. In reviewing
this matter, timely approval is crucial. It is therefore advantageous that approval is granted and
the matter be placed onto the next Council agenda for review. However, in the event this request
is denied, for whatever reason, I understand the matter shall be referred to the Committee on
Finance for placement on its future agenda.
Sincerely,
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Valerie T. Poindexter, Chair
Committee on Finance
•
Approved/Date/Waive to Council: Disapproved/Date/Refer to FC:
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J Yoshimoto, Council Chair J Yoshimoto, Chairperson
Hawai`i County Council Hawai`i County Council
VP/sc
Hawai`i County is an Equal Opportunity Provider and Employer