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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: November 4, 1997 Re: Comm. No. 540Bi11 No. 154 <br /> PLACE: Councilroom <br /> TIME: 2:00 P.M. <br /> Chair and Members <br /> Hawaii County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Bill No 154, reports as follows: <br /> Bill No. 154, transmitted jointly with Bill No. 153 by Finance Director Hazry Takahashi, via <br /> Communication No. 540, dated October 10, 1997, authorizes the issuance of $1,000,000 general <br /> obligation bonds for the purpose of financing qualified wastewater public improvements of the <br /> County of Hawaii; fixing the form, denominations, and certain other details of such bonds and <br /> providing for their sale to the Department of Health of the State of Hawaii to secure one or more <br /> loans by said department. <br /> The State Department of Health has agreed to fund the Disappearing Sands Sewage Pump <br /> Station Project by and through the Water Pollution Control Revolving Fund. The said fund was <br /> established for the purpose of receiving Federal and State funds to provide financial assistance to <br /> governmental agencies for the planning, design and construction of certain County of Hawaii <br /> <br /> wastewater treatment projects. <br /> <br /> Pursuant to Chapter 3, Section 5-3.3(c) of the Hawaii County Charter, the Director of Finance <br /> <br /> shall negotiate loans and the issuance and sale of bonds and notes when authorized by the <br /> Council. <br /> <br /> Jointly, Bill No. 153 appropriates the project of $1,000,000 funded by SRF funds. <br /> <br /> Your Committee on Finance is in accord with the purpose and intent of Bill No. 154 and <br /> <br /> recommends it pass first reading. <br /> <br /> Ikc <br /> Ayea Noes A&E F.X <br /> Respectfully submitted <br /> CHUNG X <br /> LEITHEAD-TODD X COMMITTEE ON FINANCE <br /> RAY X j 1 11 <br /> SANTANGELO X ~ ~ ~ <br /> . '-i ~ / ° l <br /> SMITH X <br /> TYLER X AARON S.Y. CHUNG, C AIR <br /> YAGOxc X FC REPORT NO. 160 <br /> ARAKAKI, F..O.M. ADOPTED: NOV <br /> <br />