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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: March 21, 2006 Re: Comm. No. 741/Res. No. 280-06 <br /> PLACE: Sheraton Keauhou Bay Resort and Spa <br /> TIME: 10:00 a.m. <br /> Council Chair and Members <br /> Hawaii County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Resolution No. 280-06, reports as follows: <br /> Resolution No. 280-06, transmitted by Director of Finance William Takaba, via Communication <br /> <br /> No. 741, dated Mazch 6, 2006, authorizes the payment of funds of a later fiscal year and of more <br /> than one fiscal yeaz for amulti-year lease for a truck tractor. <br /> The Environmental Management Solid Waste Division wishes to enter into afive-yeaz lease <br /> contract to lease with purchase options for one truck tractor, which needs to replace one that was <br /> involved in a highway accident and was deemed to be totaled by the appraiser. Funds would be <br /> budgeted in future fiscal years to cover the anticipated costs. <br /> Pursuant to Section 10-11, Hawaii County Charter, any contract, lease or other obligation <br /> requiring payment of funds from the appropriations of a later fiscal year must be approved by <br /> resolution. <br /> Your Committee on Finance is in accord with the purpose and intent of Resolution No. 280-06 <br /> and recommends its adoption. <br /> smc <br /> nvFS noes n&e ex Respectfully submitted, <br /> ARAKAKI X <br /> H1GA X COMMITTEE ON FINANCE <br /> HOFFMANN X <br /> HOLSCHUH X <br /> IKEDA X <br /> ISBELL X k^•--- <br /> .?ACOSSON X VIRG IA ISBELL, CHAIR <br /> FILACO X FCREPORTNO. 257 <br /> SAFARIK X ADOPTED: APR ZOOS <br /> <br />