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Home My WebLink AboutCOM 0917.000 2016-2018 .OJ�tY OF,,, '., Wil Okabe • o;•�; ., • in ,1; ,'�t�%v Managing Director Harry Kim l+ k�� i+ Mayor . - -''� `_- � Barbara J.Kossow v. *)..14w•a;t'�`` ' Deputy Managing Director Tf OF MO,�= County of Hawai l Office of the Mayor 25 Aupuni Street,Suite 2603 • Hilo,Hawai`i 96720 • (808)961-8211 • Fax(808)961-6553 KONA: 74-5044 Ane Keohokalole Hwy.,Bldg.C • Kailua-Kona,Hawai`i 96740 (808)323-4444 • .Fax(808)323-4440 April 20, 2018 x N3 ..<'""t.,Cr"‘. • Valerie Poindexter, Council Chair.and -lel Members of the Hawai`i County Council • z rn Hawai`i County Council 25 Aupuni Street • Hilo, Hawaii 96720' Re: Bill for an Ordinance Authorizing the Issuance of General Obligation Bonds Attached for your consideration isa bill authorizing the issuance of up to $30,500,000 in general obligation bonds for the County of Hawaii for capital improvement projects,which includes $500,000 for cost of issuance. These bonds would be issued for-the Department of Parks and.Recreation Americans with Disabilities Act (ADA)projects'as required by the transition plan that was agreed to with the Court. There are 17 projects'remaining to be completed under the agreement. The projects need to be completed by 2020. Since the Department of Parks and Recreation will be working in these 17 park locations to do the ADA work, we believe that it would be most cost effective to complete other required work at the same time. The ADA portion of the work is $24,000,000 and the non-ADA work is $6,000,000. 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$30,500,000, our debt service percentage will be approximately 12.95%. 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 May 9, 2018 Council agenda due to the time sensitive nature of this matter. In addition, we request that the five day hold be waived; so'that the construction contracts can be encumbered in a timely manner. If there are any questions, please do not hesitate to call Deanna Sako at 961-8234. Harry Kim 1 1 7 Mayor Comm. No. G Ref. To: L wA tC) Attachment Ref. Date APR 2 5 0 `-'(0> ' =County of Hawaii is an Equal Opportunity Provider.and Employer. ' Exhibit A ADA Projects to be Completed `Ahalanui Beach Park Papa'aloa Park Pa'auilo Park NAS Swimming Pool Richardson Ocean Center Hilo Bayfront Canoe Area Kolekole Gulch Park Disappearing Sands Beach Park . Miloli`i Beach Park Parks Maintenance_ S..Hilo:Base Yard Mo`oheau Ballfield. Pahala Swimming Pool Kahuku Park Na'alehu Park Pahala Park Pana`ewa Rainforest Zoo &Gardeis/Equestrian:Center Wong Stadium at Ho`olulu Park County of Hawai'i is an Equal Opportunity Provider and Employer. MAILE MEDEIROS DAVID .JNSY OF •H A. AARON S.Y. CHUNG Chairperson =^ �,;! DRU MAMO KANUHA .; `.t•v.//, ;t: SUSAN L.K.LEE LOY KAREN EOFF '- `-mewEILEEN O'HARA Vice Chair w •` VALERIE T.POINDEXTER '� •i'•' --�°•'�`: • *F:°F."� 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 April 20, 2018 Valerie T. Poindexter, Chairperson Hawai`i County Council 25 Aupuni Street Hilo, Hawai`i 96720 RE: Bill No. 146 : 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, 41) 6112, 44111 Maile David, Chairperson Committee on Finance Approve. _I e/Waive to Council: Disapproved/Date/Refer to FC: 1/7 • WR 25 R /0 Valerie T. Poindexter, Chairperson Valerie T. Poindexter, Chairperson Hawai`i County Council Hawai`i County Council MDldm Hawai`i County is an Equal Opportunity Provider and Employer