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Council OKs expanded authorization to pursue low‑interest SRF loans for Hilo wastewater work
Summary
The Hawaii County Council on April 16 approved on first reading an increase in the county's borrowing authorization to allow pursuit of low‑interest State Revolving Fund loans for the Hilo Wastewater Treatment Plant rehabilitation.
The Hawaii County Council on April 16 approved on first reading an increase in the county's borrowing authorization to allow the county to pursue State Revolving Fund (SRF) loans for the Hilo Wastewater Treatment Plant rehabilitation. The measure, Bill 43 (first reading), raises the maximum authorization tied to the project from $17 million to $52 million.
County finance and environmental managers said the change would let the county replace higher‑cost general obligation borrowing with low‑interest SRF loans if those funds are available. "These loans are low interestabout a quarter percent per year," Finance Director Diane Nakagawa told the council, adding that the SRF program also carries a separate loan fee. Robin Baumann, business manager for Environmental Management, said the state currently estimates roughly $26.7 million in SRF funds could be…
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