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REPORT OF THE <br /> COMbIITTEE ON FINANCE <br /> DATE: Februazy 17, 1998 Re: Comm. No. 697Bi11 No. 194 <br /> PLACE: Councilroom <br /> TIME: 11:40 A.M. <br /> Chair and Members <br /> Hawaii County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Bill No. 194, reports as follows: <br /> Bill No. 194, transmitted by Finance Director Hazrry Takahashi, via Communication No. 697, <br /> dated January 22, 1998, amends Ordinance No. 97-82, the Capital Budget, as amended, ending <br /> June 30, 1998, by increasing the following appropriation: <br /> PUBLIC WORKS <br /> Mamalahoa Highway Improvements (Kamamalu Street to Lindsey Road) <br /> (110-399-5394.16-115) [$3,370,611.66] $5.200.000.00 <br /> Funds for this appropriation increase shall be provided from: <br /> Federal Grants Receivable $1,829,388.34 <br /> The revised cost is based on the actual bid opened on November 20, 1997. <br /> Members of Your Committee were concerned with the lazge desparity between the estimated <br /> cost and the actual bid. Concerns were also expressed regazding the funding source to cover the <br /> increase. However, in order to expedite this measure, further information was requested and will <br /> be forthcoming prior to the next Council meeting. <br /> Your Committee on Finance is in accord with the purpose and intent of Bill No. 194 and <br /> recommends it pass first reading. <br /> <br /> lkc <br /> Ayee Noes A&E EX <br /> Respectfully submitted <br /> CHUPTG X <br /> LEITHEAD-TODD X COMMITTEE ON FINANCE <br /> RAY X / <br /> SANTANGELO X C,L ~ / <br /> SMITH X <br /> TYLER X AARON S.Y. CHUNG, <br /> YACOxc X FC REPORT NO. 2 1 13 <br /> ARAKAKI,1~o.mr. X ADOPTED: <br /> <br />