HomeMy WebLinkAboutBILL 2925, BILL 2927 NOTICE OF PUBLICATION/NOTICE OF PUBLIC HEARING 74 MS -2 A8 :15
THE .INTY
NOTICE OF PUBLICATION AND NOTICE OF PUBLIC HEARING
Notice is hereby given that the Kaua`i County Council will hold a public
hearing on Wednesday, August 28, 2024, at 8:30 a.m., or soon thereafter, at the
Council Chambers, 4396 Rice Street, Room 201, Historic County Building, Lihu`e,
on the following:
Bill No. 2925
A BILL FOR AN ORDINANCE AMENDING CHAPTER 5A, KAUAI
COUNTY CODE 1987, AS AMENDED, RELATING TO REAL PROPERTY
TAX
This Bill proposes to amend Chapter 5A, Kaua`i County Code 1987, as
amended, for the purpose of allowing lessees of a state-owned property used for
residential purposes to qualify for a beneficial tax rate and the assessment cap.
Bill No. 2927
A BILL FOR AN ORDINANCE AUTHORIZING THE ISSUANCE OF
GENERAL OBLIGATION REFUNDING BONDS OF THE COUNTY OF
KAUAI FOR THE PURPOSE OF REFUNDING CERTAIN OUTSTANDING
GENERAL OBLIGATION BONDS; FIXING OR AUTHORIZING THE
FIXING OF THE FORM, DENOMINATIONS, AND CERTAIN OTHER
DETAILS OF SUCH REFUNDING BONDS AND PROVIDING FOR THE
SALE OF SUCH BONDS TO THE PUBLIC; PROVIDING FOR THE
RETIREMENT OF THE BONDS TO BE REFUNDED; AND AUTHORIZING
THE TAKING OF OTHER ACTIONS RELATING TO THE ISSUANCE AND
SALE OF THE REFUNDING BONDS AND THE RETIREMENT OF THE
BONDS TO BE REFUNDED
This Bill proposes to authorize the issuance, sale, and delivery of general
obligation refunding bonds for the purpose of refunding all or a portion of the
outstanding Prior Obligations (the County's previously-issued $120,000,000 in
aggregate principal amount of its Taxable General Obligation Bonds, Series 2010A)
to achieve debt service savings and other benefits for the County in the
management of its debt obligations. As a result of federal sequestration, there has
been a material adverse change to Section 54AA and Section 1400U-2 of the
Internal Revenue Code of 1986, reducing the interest subsidy payments for the
Prior Obligations that the County has received, and expects to receive, from the
United States Treasury. The proposed refunding would be accomplished through a
new issuance of tax-exempt General Obligation Bonds to redeem all or a portion of
the outstanding 2010A Bonds. Based on current market conditions, such a
refunding would enable the County to achieve debt service savings in comparison to
the 2010A Bonds and protect against the potential risk of future increases in federal
sequestration.
Any person may testify at the public hearing, and at any Council
and Committee Meeting (at which time any Bill may be amended).
Meeting notices and full-text Bills are available at least six (6) days in
advance at the Office of the County Clerk, Council Services Division and
kauai.gov/Government/Council/Webcast-Meetings. Written testimony may be
submitted via counciltestimony@kauai.gov, mail, or fax. For further information,
please call (808) 241-4188.
CERTIFICATE OF THE COUNTY CLERK
I hereby certify that the Kaua`i County Council passed on first reading and
ordered to print Bill No. 2925 and Bill No. 2927 during the July 31, 2024 Council
Meeting, by the following vote:
AYES: Bulosan, Carvalho, Cowden, DeCosta, Kagawa, Kuali`i,
Rapozo TOTAL— 7,
NOES: None TOTAL—0,
EXCUSED & NOT VOTING: None TOTAL— 0,
RECUSED & NOT VOTING: None TOTAL— O.
Lihu`e, Hawai`i /s/Jade K. Fountain-Tanigawa
July 31, 2024 County Clerk, County of Kauai
NOTE: IF YOU NEED AN AUXILIARY AID/SERVICE, OTHER
ACCOMMODATION DUE TO A DISABILITY, OR AN INTERPRETER FOR
NON-ENGLISH SPEAKING PERSONS, PLEASE CONTACT THE OFFICE OF
THE COUNTY CLERK, COUNCIL SERVICES DIVISION AT (808) 241-4188 OR
COKCOUNCIL@KAUAI.GOV AS SOON AS POSSIBLE. REQUESTS MADE AS
EARLY AS POSSIBLE WILL ALLOW ADEQUATE TIME TO FULFILL YOUR
REQUEST.
UPON REQUEST, THIS NOTICE IS AVAILABLE IN ALTERNATE FORMATS
SUCH AS LARGE PRINT, BRAILLE, OR ELECTRONIC COPY.
(One publication— The Garden Island—August 6, 2024)