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REPORT OF THE <br />COMMITTEE ON FINANCE <br />DATE: September 9, 2008 <br />PLACE: Sheraton Keauhou Bay Resort & Hotel <br />78-128 `Ehukai Street <br />Kailua-Kona, Hawaii <br />TIME: 9:12 a.m. <br />Council Chair and Members <br />Hawaii County Council <br />Hilo, Hawaii 96720 <br />Re: Comm. No. 1419/Bill No. 356 <br />Your Committee on Finance, to which was referred Bill No. 356, reports as follows: <br />Bi11 No. 356, transmitted by Director of Finance William Takaba, via Communication No. 1419, <br />dated August 26, 2008, amends Ordinance No. 08-79, as amended, the Capital Budget, ending <br />June 30, 2009, by adding the following project: <br />HOUSING & COMMUNITY DEVELOPMENT <br />Kaloko Housing Program -Federal <br />(110.499.5496.17) [$5,563,000] $ 0 <br />Kaloko Housing Program -County <br />(110.499.5496.19) <br />[$5,413,000] $ 7,500,000 <br />Funds for this appropriation decrease shall be provided from: <br />Federal Grants Receivable [$5,563,000] $ 0 <br />General Obligation Bonds, Capital Projects Fund- <br />Fund Balance and/or other Sources [$5,413,000] $ 7,500,000 <br />Pursuant to Section 10-6(d), Hawai`i County Charter, the Council may amend the Capital Budget for <br />that year with atwo-thirds vote. <br />Your Committee on Finance is in accord with the purpose and intent of Bill No. 356, and recommends <br />it pass first reading. <br />la <br /> AYES NOES A&E EX <br />FORD X <br />H[GA X <br />HOFFMANN X <br />IKEDA X <br />JACOBSON X <br />NAEOLE X <br />PILAGO X <br />YAGONG X <br />YOSHIMOTO X <br />Respectfully submitted, <br />COMMITTEE ON FINANCE <br />BOB JACO ON, VICE-CHAIR <br />REPORT NO. 326 <br />ADOPTED: SEP 2 4 2~~8 <br />