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COUNTY OF HAWAII <br />ORDINANCE NO. <br />STATE OF HAWAII <br />BILL NO. 76 <br />AN ORDINANCE AUTHORIZING THE MAYOR OF THE COUNTY OF <br />HAWAII TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT FOR <br />A STATE WATER POLLUTION CONTROL REVOLVING FUND LOAN FOR <br />WASTEWATER PUBLIC IMPROVEMENT PROJECTS; AND AUTHORIZING <br />THE ISSUANCE OF $37,000,000 GENERAL OBLIGATION BONDS OF THE <br />COUNTY OF HAWAII FOR THE PURPOSE OF FINANCING QUALIFIED <br />WASTEWATER PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAII <br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br />SECTION 1. Request for Loan. The County of Hawai'i, pursuant to Section 342D- <br />54, Hawai'i Revised Statutes, will be submitting an application for a State Water Pollution <br />Control Revolving Fund Loan (SRF Loan) to the Director of the Department of Health, <br />State of Hawai'i, to finance the Wastewater project listed in "Exhibit A". <br />Under the terms and conditions anticipated with regard to such SRF loan, the <br />County shall repay, over a term of twenty years, the principal amount, which shall not <br />exceed $37,000,000, at a fixed rate of interest which shall not exceed the Bond Buyer's <br />20 -year general obligation bond issue. <br />SECTION 2. Authorization of Mayor. The Council hereby authorizes the Mayor to <br />execute all necessary intergovernmental agreements and documents between the State <br />of Hawai'i and the County of Hawai'i, relating to the SRF to finance the Wastewater <br />project listed in "Exhibit A". <br />