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REPORT OF THE <br />COMMITTEE ON FINANCE <br />DATE: November 6, 2008 <br />PLACE: Sheraton Keauhou Bay Resort & Hotel <br />78-128 `Ehukai Street <br />Kailua-Kona, Hawaii <br />TIME: 1:33 p.m. <br />Council Chair and Members <br />Hawaii County Council <br />Hilo, Hawaii 96720 <br />Re: Comm. No. 1529Bi11 No. 387 <br />Your Committee on Finance, to which was referred Bill No. 387, reports as follows: <br />Bill No. 387, transmitted by Director of Finance William Takaba, via Communication No. 1529, dated <br />October 16, 2008, amends Ordinance No. 08-79, as amended, the Capital Budget, ending June 30, 2009, <br />by adding the following project: <br />PLANNING: <br />North Kona Roads Planning <br />110.399.5397.63 <br />Funds for this appropriation increase shall be provided from: <br />General Obligation Bonds, Capital Projects Fund - <br />Fund Balance and/or Other Sources <br />$275,000 <br />$275,000 <br />This appropriation implements the Kona CDP by enabling the necessary preliminary steps to initiate <br />financing or to move priority roads to a design-ready stage. The Kona CDP identifies several major new <br />connector roads for the North Kona area. <br />Pursuant to Section 10-6(d), Hawai`i County Charter, the Council may amend the Capital Budget for that <br />year with atwo-thirds vote. <br />Your Committee on Finance is in accord with the purpose and intent of Bill No. 387, and recommends it <br />pass first reading. <br />la <br /> AYES NOES A&E EX <br />FORD X <br />HIGA X <br />HOFFMANN X <br />IKEDA X <br />JACOBSON X <br />NAEOLE X <br />PILAGO X <br />YAGONG X <br />YOSHIMOTO X <br />Respectfully submitted, <br />ON FINANCE <br />DOMINIC YAGONG~HA~$ ~/ <br />FC REPOR O.__. 355 <br />ADOPTED: Nf1V 7 1 ~nno <br />---~--c-T-z ova <br />