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Home My WebLink AboutCOM 0328.000 2014-2016William P. Kenoi AA3}iE1F County of Hawaii Office of the Mayor Walter K. M. Lau Managing Director Randall M. Kurohara Deputy Managing Director 25 Aupuni Street, Suite 2603 • Hilo, Hawaii 96720 • (808) 961-8211 • Fax (808) 961-6553 KONA- 74-5044 Ane Keohokalole Hwy., Bldg. C • Kailua-Kona, Hawaii 96740 (808) 323-4444 Fax (808) 323-4440 May 14, 2015 Cm- o Dru Kanuha, Council Chair and Members of the Hawaii County Council J= Hawaii County Council a :�E 25 Aupuni Street Hilo, Hawaii 96720 IV —' Re: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds Attached for your consideration is a bill authorizing the issuance of up to $99,750,000 in general obligation bonds for the County of Hawaii for capital improvement projects, which includes $750,000 for cost of issuance. This is an excellent time to invest in County infrastructure to save money for county taxpayers, and to create jobs for our working families. Interest rates are at very low levels, and County government has an opportunity today to boost the local construction industry while investing in parks, roads and other important projects to better serve our communities. Issuing this bond will allow us to invest in infrastructure that will touch the lives of our residents each and every day, including projects in roads, mass transit, public safety, housing, parks and recreation, and environmental management. Each of these projects will contribute to a safer, healthier, stronger Hawaii Island community. Our County's debt service capacity has been reviewed to ensure we have the capacity to issue additional bonds up to the requested amount. With this authorization of $99,750,000, our debt service percentage will be approximately 13.81%. This percentage is within our GFOA guideline that debt service expenditures should be below 15% of total expenditures each year. We request that this bill be waived from the Finance Committee and be placed on the June 3, 2015 Council agenda due to the time sensitive nature of this matter. If there are any questions, Meas o esitate to call Deanna Sako or Lisa Miura at 961-8234. William P. Kenoi Mayor Attachment -< 8;11 5'87 Hawaii County is an Equal Opportunity Provider and Employer Comm. rao. a-19 Ref. To: CtTIA, w F� Ref. Date MAY 15 2015 KAREN EOFF Chairperson VALERIE T. POINDEXTER Vice Chair �SY OF N, HAWAII COUNTY COUNCIL County of Hawai 'i Hawai'i County Building 25 Aupuni Street Hilo, Hawaii 96720 May 14, 2015 Dru Mamo Kanuha, Chairperson Hawaii County Council 25 Aupuni Street Hilo, Hawaii 96720 AARON S.Y. CHUNG MAILE "MEDEIROS" DAVID GREGGORILAGAN DRU MAMO KANUHA DENNIS "FRESH" ONISHI DANNY PALEKA MARGARET WILLE RE: Bill No. 58 : AN ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE COUNTY OF HAWAII FOR THE PURPOSE OF FUNDING ALL OR A PORTION OF THE COSTS OF VARIOUS IMPROVEMENT PROJECTS; FIXING THE FORM, DENOMINATIONS, AND CERTAIN OTHER DETAILS OF SUCH BONDS AND PROVIDING FOR THEIR SALE TO THE PUBLIC; AND AUTHORIZING THE TAKING OF OTHER ACTIONS RELATING TO THE ISSUANCE AND SALE OF THE BONDS Pursuant to Section 2(g) of Rule 4 of the Rules of Procedure of the Council of the County of Hawaii, 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, Karen Eoff, Chairperson Committee on Finance rov /Date/Waive to Council: 0 Dru Mamo Kanuha, Chairperson Hawai`i County Council KE/wb Disapproved/Date/Refer to FC: Dru Mamo Kanuha, Chairperson Hawaii County Council Hawaii County is an Equal Opportunity Provider and Employer PROJECT LISTING Parks & Recreation $50,000,000 Waimea Park Hilo Municipal Golf Course Clubhouse Improvements Honaunau Rodeo Arena Improvements Mauna Kea Recreational Area Kukuihaele Park Improvements KALO Gymnasium Interior Hualani Park Ballfields Improvements Alii Kai Subdivision New Park Development Kailua Park Soccer Fields Improvement Hilo Drag Strip Improvements Hokulani Street Park Shipman Park Lighting and Improvements Kealakehe Regional Park Critical Habitat Kaipalaoa Landing Park Development Hawaiian Paradise Park, Community Park Islandwide Tennis Court Improvements ADA Transition Plan Repairs/Improvements to Facilities Public Works 20,000,000 Mamalahoa Highway (Route 19) Improvements Kilauea-Keawe Street Resurfacing Manono Street Improvements Kapi`olani Street Improvements Kawailani Street Improvements Komohana Street Ka` iminani Drive Phase II Manowai`opae Road Waikoloa Shoulder Widening Ane Keohokalole Highway (Hinalani to Kaiminani) Honoka`a Safe Drop Off (matching funds) Drywells Environmental Management 10,000,000 Hilo Outfall Repair Repair/Replacement of Wastewater facilities Kealekehe Effluent Reuse — Makai (RI Water) Repair Wastewater Digesters Repair Pua Wet Well Solid Waste projects (repairs and recycling improvements) Fire 9,000,000 Haihai (Kawailani) Station Administration Complex (Includes Server Room move from Civil Defense) Waimea Volunteer Station Mass Transit 5,000,000 Baseyard facility (matching funds) Bus Shelters Master Plan for island wide facilities Housing 2,500,000 Transitional Housing Micro Units Ouli Ekahi repairs Park at Ulu Wini Kamakoa Nui Phase II (additional revolving funds) Civil Defense 1,500,000 Radio Tower repairs Prosecutors Office 1,000,000 Design of West Hawaii office Costs of Issuance 750,000 Total $99,750,000