November 5, 2010 – HILO, Hawaii

Video by David Corrigan | Voice of Stephanie Salazar

The Hawaii County Council voted to authorize the borrowing of $56 million to finance a list of capitol improvement projects on Thursday evening.

Bill 311 got a mixed reception amongst councilmembers, who appreciated the effort to create jobs and improve infrastructure, but balked a bit at the idea of borrowing money in the uncertain economic climate.

After a long discussion, the bill advanced to its second reading. J Yoshimoto, Brenda Ford and Dominic Yagong were the only three to vote against the measure.

One of the concerns expressed by those who opposed the bill said that since the bond was not officially tied to any project, the measure essentially amounted to a blank check for the administration.

The council agenda item for Bill 311 reads:

Authorizes the Issuance of General Obligation Bonds of the County of Hawaii for the Purpose of Funding All or a Portion of the Costs of Various Public 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 {Principal amount not to
exceed $56,000,000. The projects include: Kawaihae Housing Closure ($1,000,000), Kaloko Housing Project ($4,000,000), Pool Drainage Covers ($500,000), Hawaii Paradise Park New Park Development ($5,500,000), Kikala Keokea New Park Development ($100,000), North Kohala Recreational Facilities Repair and Upgrade ($2,000,000), Banyan Beach Parking Lot ($300,000), Kapiolani Street Extension ($8,700,000), Puna Makai Alternate Roadway ($500,000), Laaloa Extension ($20,000,000), Energy Efficiency and Related Maintenance Upgrades ($4,000,000), Waiohino Transfer Station ($8,800,000), and Waimea Recycle and Transfer Station Garage ($100,000) for a total of $55,000,000.