HomeMy WebLinkAboutREP FC 318 04/13/1983 1980-1984 410, •
REPORT OF THE
COMMITTEE ON FINANCE
April 13, 1983
Chairman and Members
Hawaii County Council
Hilo, Hawaii
Your Committee on Finance to which was referred:
ASIL Comm. 1183 : $7 MILLION GENERAL OBLIGATION BONDS FOR WATER PROJECTS
(Bill 957) From Director of Finance Stanley A. Nakamae dated
March 30, 1983 submitting an ordinance bill authorizing
issuance of $7 , 000, 000 in general obligation bonds for
various water projects. Informs although these bonds
will be a general obligation of the County and payment
of principal and interest will be a first charge on
the general fund of the County, the Department of
Water Supply is obligated to reimburse the County for
principal and interest payments and paying agent fees ,
and will pay all expenses of issuance or its pro-rata
share if 'other bonds are combined with this issue.
These bonds are reimbursable general obligation bonds;
and as such, will be excluded from the bonded debt of
the County;
recommends Council approve and adopt Bill 957 on first reading.Prt4,-044,i,c) `'
TOMIO FUJII, CHAT
FC REPORT N0. 318
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ADOPTED : 1APR 2 0 1983
N 8 !VD. l 96 7- l?�g