HomeMy WebLinkAboutCOM 0185.000 2016-2018 Harry Kim , J�tYIOF p, ' Collins Tomei -
Mayor '�= \\`6iZ?
Director
•
�_ .•.� Deanna S. Sako
• -.- , Deputy Director
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County of Hawai`i COUNTY CLERK
COUNTY OF HAWAII
Finance DepartmentRECEIVED
25 Aupuni Street,Suite 2103 • Hilo,Hawaii 96720 Timl
e �:Ss A4' By
(808)961-8234 • Fax(808)961-8569 Date MAR 16 20r/
March 16, 2017
Valerie Poindexter, Council Chair and
Members of the Hawai`i County Council
Hawai`i County Council
25 Aupuni Street
Hilo, Hawaii 96720
Re: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds
Enclosed is a bill for an ordinance authorizing the issuance of$4,105,000 General
Obligation Bonds of the County of Hawai`i for the purpose of financing the Papa'ikou
Transit and Galvanized Iron Pipeline Replacement project that will replace undersized
and aging asbestos cement(transite) and galvanized waterlines to bring the system up to
standards for fire flow.
This request for $4,105,000 is to replace approximately 15,000 linear feet of waterline,
and services approximately 240 customers. It also allows the Department of Water
Supply to obtain a grant of$3,470,000 from the United States Department of Agriculture
Rural Development on behalf of the Rural Utilities Service.
The Board of Water Supply has already approved this borrowing. The Department of
Water Supply will reimburse the General Fund for the related debt service on the bonds
and the cost of issuance.
The Department of Water Supply request that this bill be waived from the Finance
Committee and be placed on the April 5, 2017 Council agenda due to deadlines related to
the project. If there are any questions, please do not hesitate to call the Department of
Water Supply.
Collins Tomei gS
comm. No._._
Director of Finance Ref. To: DV• w
Enc. Ref. Date A 0 5 2®i7
cc: Water Supply
<WA\ -AS>
Hawaii County is an Equal Opportunity Employer and Provider
OF p
MAILS MEDEIROS DAVID tir, AARON S.Y.CHUNG
Chairperson �• -w—.`•V.1,;( DRU MAMO KANUHA
SUSAN L.K.LEE LOY
KAREN EOFF = ' ' EILEEN O'HARA
Vice Chair ''P� •.= VALERIE T.POINDEXTER
.. HERBERT M."TIM"RICHARDS,III
JENNIFER RUGGLES
HAWAII COUNTY COUNCIL
County of Hawai'1
Hawai`i County Building
25 Aupuni Street
Hilo,Hawai'i 96720
March 17, 2017
Valerie T. Poindexter, Chairwoman
Hawaii County Council
25 Aupuni Street
Hilo, Hawai`i 96720
RE: BILL NO. 25 : AN ORDINANCE AUTHORIZING THE ISSUANCE OF
GENERAL OBLIGATION BONDS OF THE COUNTY OF HAWAII IN A PRINCIPAL
AMOUNT NOT TO EXCEED $4,105,000 FOR THE PURPOSE OF FUNDING A
PORTION OF THE COSTS OF A WATER DEPARTMENT PROJECT REFERRED TO
AS THE PAPAIKOU TRANSITE& G. I. (GALVANIZED IRON)PIPELINE
REPLACEMENT; FIXING THE FORM, DENOMINATIONS, AND CERTAIN OTHER
DETAILS OF SUCH BONDS AND PROVIDING FOR THE SALE THEREOF; 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
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,
g‘410) 411.
rMaile David, Chairperson
Committee.on Finance
Approved/D. : ' aive to Council: MAR 17 2 Disapproved/Date/Refer to FC:
, /,e4ct..-1.1. (97
Valerie T. Poindexter, Chairwoman Valerie T. Poindexter, Chairwoman
Hawai`i County Council Hawai`i County Council
Hawai`i County is an Equal Opportunity Provider and Employer