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COUl~1TY OF I-IAWAI`I STATE OF I~AWAI`I <br /> RESOLUTI01o1 NO. O~ <br /> RESOLUTION CLARIFYING TIME TYPES OF SHORT TERM INVESTMENTS OF COUNTY <br /> MONIES IN ACCORDANCE WITH SECTION 46-50 OF TIME HAWAII REVISED STATUTES <br /> WHEREAS, pursuant to Section 46-50 of the Hawaii Revised Statutes (HRS), entitled "short <br /> <br /> term investment of county moneys", the Director of Finance of the County of Hawaii, may, with the <br /> approval of the Council, invest county monies which are in excess of the amounts necessary for the <br /> meeting of immediate requirements; and <br /> WHEREAS, pursuant to Resolution No. 437-92, adopted by the Council of the County of <br /> Hawaii on May 6, 1992, such approval and authorization was granted to the Director of Finance to <br /> invest those County monies which are not necessary for the meeting of immediate requirements in <br /> one or more of the type of investments then noted in Section 46-50 of the Hawaii Revised Statutes; <br /> and <br /> WHEREAS, Section 46-50 of the Hawaii Revised Statutes was amended in 1998 to allow <br /> additional types of short term investments that could be made with county monies and to extend the <br /> maturity period from three (3) to five (5) years from the date of investment. <br /> NOW, THEREFORE, ~E IT RESOLVED ~Y THE COUNCIL OF THE COUNTY OF HAWAII, <br /> that the types of short term investments, in which the Director of Finance is authorized to invest <br /> County monies, have been clarified and amended to reflect those presently listed in Section 46-50 of <br /> the Hawaii Revised Statutes. <br /> 13E IT FURTHER RESOLVED, that a copy of this resolution be transmitted to the Department <br /> of Finance. <br /> <br />