 Aloha, I'm Kelea Akinah, president of the Grassroot Institute of Hawaii. Is anyone surprised that Honolulu Mayor Kirk Caldwell wants the city to use $44 million of bond debt to pay for administrative costs related to the construction of the rail system? You know, the proposal is a bad sign, indicating once again that the city mega project is in poor financial health, and clearly that the wildly over-budget and behind-scheduled transit development needs a full, deep audit for fraud, waste and abuse. Caldwell's proposal to use bond money to pay for administrative costs of the Honolulu area rapid transit was contained in his fiscal 2019 executive and capital programs budget, which he submitted to the Honolulu City Council on March 2. The requested funds would have to be paid back with interest and certainly add to the ever-mounting costs of the project. One local budget analyst said the debt interest alone could eventually be almost as much as the principal amount borrowed, and that's assuming a 5 percent interest rate, and dangerously set a precedent for using this kind of funding mechanism in future years. In addition, the proposed spending also goes against the Honolulu City Council's law banning itself from using city funds for the rail. Ordinance 07-001 Section 3 states that the rail expenses, quote, shall be paid entirely from general excise and use tax surcharge revenues, interest earned on the revenues, and any federal, state or private revenues. Notice there's no word bond in there, and also notice that the law does not say city revenues can be used. That's why some members of the council have been seeking for some time to change the law. Meanwhile, according to the most recent evaluation of Honolulu's finances by Moody's investor services, Honolulu's, quote, challenges related to construction of light rail, end quote, could lead to a downgrade of its AA1 credit rating if the city shows, quote, inability to manage escalating fixed costs, end of quote. Yet the mayor and his cohorts on the council now want to borrow money not only for the capital construction costs of the rail, but also for its administrative costs. After receiving criticism that the rail was well over budget last summer during the latest round to seek state tax aid, Caldwell and other boosters of the project indicated that the rail's skyrocketing costs were now under control, and that building and operating the rail would not place the city in an endless cycle of debt. Skeptics took those assurances with a grain of salt, but this update underlines the questions that still dog the project. The only way to effectively address those concerns and restore public trust is through a full audit of the rail. Although the city passed a follow-up audit last year, that audit will not specifically look for fraud, waste and abuse. More transparency is needed. Whether folks are pro-rail or anti-rail, the funding realities demonstrate that city officials need to be more forthright with the public, not only about its real costs, but also about its long-term effect on Honolulu's finances. In the end, it's a question of accountability, transparency and the public trust. The first step is to provide a full investigation of the project. Ehana Kako, let's work together for greater transparency and accountability in government. I'm Kili Iakina with the Grassroot Institute, Aloha.