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Notice #: 0000579883-01
Public Hearings


NOTICE IS HEREBY GIVEN that the Department of Transportation, State of Hawaii, Airports Division (the “Department“) will hold a public hearing on December 17, 2013 at 10 a.m. at Conference Room A, Honolulu International Airport, 400 Rodgers Boulevard, Suite 700, Honolulu, Hawaii in connection with the issuance by the Department of its debt obligations as described below.

The Department proposes to execute and deliver approximately $170,000,000 State of Hawaii Department of Transportation Airports Division Energy Efficiency Project Certificates of Participation, Series 2013 (the “Certificates“). The Certificates will evidence undivided proportionate interests of the owners of the Certificates in certain base rent payments to be made by the State of Hawaii acting through the Department. The base rent payments will be made pursuant to a lease agreement (the “Lease Agreement“) between the State of Hawaii acting through the Department, as lessee, and Johnson Controls, Inc., as lessor, with an option to purchase by the Department. The Certificates will be issued by The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee“), pursuant to an Indenture of Trust between the State of Hawaii and the Trustee. Proceeds of the Certificates will be used to finance certain energy conservation improvements at facilities of the State of Hawaii Airports Systems under the jurisdiction of the Department, including Honolulu International Airport, Kalaeloa Airport and Dillingham Airfield, all on the Island of Oahu; Kona International Airport, Waimea-Kohala Airport and Hilo International Airport, each on the Island of Hawaii; Lihue Airport on the Island of Kauai; Kahului Airport, Kapalua Airport and Hana Airport, each on the Island of Maui; Molokai Airport on the Island of Molokai; and Lanai Airport on the Island of Lanai.

The Certificates are payable solely from and secured by the revenues received by the Trustee pursuant to the Lease Agreement. The obligation of the State of Hawaii under the Lease Agreement relating to the Certificates in any fiscal year is contingent upon the appropriation of sufficient funds by the legislature to fulfill the requirements of the Lease Agreement, as determined by the State of Hawaii in its discretion, for such fiscal year and shall not constitute a mandatory charge or obligation of the State in any fiscal year beyond the then current fiscal year. The Certificates shall not constitute or give rise to a general obligation or other indebtedness of the State of Hawaii within the meaning of any constitutional or statutory debt limitation.

The public hearing is required by Section 147(f) of the Internal Revenue Code of 1986. Subsequent to the public hearing the Governor of the State of Hawaii will consider approval of the issuance of the Certificates.

All interested parties are invited to attend the hearing and to express their views relative to the proposed financing, either orally or in writing. Written comments should be made available to the Department at or before the public hearing and may be submitted to Ross Higashi, Fiscal Management Officer, Department of Transportation – Airports Division, Honolulu International Airport, 400 Rodgers Boulevard, Suite 700, Honolulu, Hawaii 96819.

Further information may be obtained by calling the Department at (808) 838-8646 on regular business days (Monday-Friday) between 7:45 a.m. and 4:30 p.m.
To request language translation, an auxiliary aid or other special services (e.g., materials in an alternative format, large print, taped materials, sign language interpreter, etc.), please call the Department at (808) 838-8646 (voice only) not later than seven (7) days prior to the meeting date. TTY users may use a Telecommunications Relay Service to contact our office.

NOTICE DATED: November 27, 2013

Director of Transportation, State of Hawaii
(SA579883 11/27/13)~