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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: August 2, 2011 Re: Comm. No. 283/Bill 77 <br /> PLACE: Council Chambers <br /> Hilo, Hawai`i <br /> TIME: 2:17 p.m. <br /> Council Chair and Members <br /> Hawai`i County Council <br /> Hilo, Hawai`i 96720 <br /> Your Committee on Finance, to which was referred Bill 77, reports as follows: <br /> Bill 77, transmitted by Finance Director Nancy Crawford via Communication 283 dated July 21, <br /> 2011, a bill for an ordinance authorizing the Mayor to enter into an intergovernmental agreement <br /> for a State Water Pollution Control Revolving Fund Loan (SRF) of$9,200.000 for the purpose of <br /> financing these wastewater improvement projects. These projects:1) Kalaniana`ole Interceptor <br /> Sewer Rehabilitation Phase II: $8,000,000; 2) Kula`imano and Papa'ikou Dewatering: <br /> $1,200,000 are scheduled to start in the first quarter of FY 11-12 and are included in the <br /> proposed FY 11 — 12 Capital Improvement Program Budget. <br /> Acting Director of Environmental Management Dora Beck and Director of Finance Nancy <br /> Crawford appeared before Your Committee. Ms. Beck provided members an explanation of <br /> repairs, and expediting them with the least possible impact to traffic and community. <br /> Furthermore, a public meeting will be scheduled to inform the community of these wastewater <br /> improvement projects before they begin. Ms. Beck will contact Mr. Onishi's office to assist with <br /> coordinating the effort. Ms. Crawford commented that this is a desirable loan arrangement at <br /> V2 percent interest and taking the opportunity is ideal when funds are available for these projects. <br /> Your Committee on Finance is in accord with the purpose and intent of Bill 77, and recommends <br /> it pass first reading. <br /> dkr <br /> AYES NOES A&E EX Respectfully submitted, <br /> BLAS X <br /> FORD X COMMITTEE ON FINANCE <br /> HOFFMANN X <br /> IKEDA X <br /> ONISHI X <br /> PILAGO X <br /> SMART X BRENDA FORD, CHAIR <br /> YAGONG X FC REPORT NO. 91 <br /> YOSHIMOTO x ADOPTED: AUG 17201 <br />