HomeMy WebLinkAboutCOM 0611.000 2016-2018 ,oJ.tYoip ',•
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41iii,; ', Managing Director
Harry Kim % +: :i/!/, :t
Mayor
---: Barbara J.Kossow
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County of Hawal i - -�
Office of the Mayor
25 Aupuni Street,Suite 2603 • Hilo,Hawaii 96720 • (808)961-8211 • Fax(808)961-6553 -g t"'•
KONA: 74-5044 Ane Keohokalole Hwy.,Bldg.C • Kailua-Kona,Hawaii 96740 r"1
(808)323-4444 • Fax(808)323-4440
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November 15, 2017
Valerie Poindexter, Council Chair and
Members of the Hawai`i County Council
Hawai`i County Council
25 Aupuni Street
Hilo, Hawai`i 96720
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 $12,500,000 in general
obligation bonds for the County of Hawai`i for capital improvement projects, which includes
$150,000 for cost of issuance.
These bonds would be issued for the construction of the Hawai`i County Prosecuting Attorney's
Office building at the West Hawai`i Civic Center. Completion of this project will provide for
close proximity of the prosecuting staff to the new State Judiciary building in Kona. Co-locating
the Prosecutor's office with other county offices on the West Hawai`i Civic Center campus will
benefit the county with savings by using the economy of scale. Some examples of such savings
would be in owning the building rather than renting, reduced travel mileage and time and using
shared resources with other departments on the campus.
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$12,500,000, our debt
service percentage will be approximately 13.0%. 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 December
5, 2017 Council agenda due to the time sensitive nature of this matter. If there are any questions,
please do not hesitate to call Deanna Sako at 961-8234. ” •
Asq
Harry Kim M. No. - (
Mayor • Ref. To:
Ref. Date. NOV 2 2 2117 .�
Attachment
County of Hawai
ii s an Equal Opportunity Provider and Employer.
9• `>
MAILE MEDEIROS DAVID J�SV OF p; AARON S. Y. CHUNG
Chairperson \>,I;;l DRU MAMO KANUHA
•:.&f ;# SUSAN L.K.LEE LOY
KAREN EOFF - " EILEEN O'HARA
Vice Chair •+>�: r=M::'•�`�.` VALERIE T.POINDEXTER
'
'. 'F oF• ; HERBERT M."TIM"RICHARDS,III
JENNIFER RUGGLES
HAWAII COUNTY COUNCIL
County of Hawai`i
Hawai`i County Building
25 Aupuni Street
Hilo,Hawai`i 96720
November 15, 2017
Valerie T. Poindexter, Chairperson
Hawai`i County Council
25 Aupuni Street
Hilo, Hawai`i 96720
RE: Bill No. 83 : AN ORDINANCE AUTHORIZING THE ISSUANCE OF
GENERAL OBLIGATION BONDS OF THE COUNTY OF HAWAI`I 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
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,
1110. 11P
Maile David, airperson
Committee on Finance
•
roved/ ate/Waive to Council: Disapproved/Date/Refer to FC:
-7(1(40
Valerie T. Poindexter, Chairperson Valerie T. Poindexter, Chairperson
Hawaii County Council NOV 2 2 2011 Hawai`i County Council
Hawai`i County is an Equal Opportunity Provider and Employer