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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: July 31, 2012 Re: Comm. No. 782/Bill No. 282 <br /> PLACE: Council Chambers <br /> Hilo, Hawai`i <br /> TIME: 11:25 a.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 No. 282, reports as follows: <br /> Bill No. 282, transmitted by Finance Director Nancy Crawford via Communication No. 782, <br /> dated July 13, 2012, amends Ordinance No. 12-87, as amended, relating to Public Improvements <br /> and Financing thereof for the Fiscal Year July 1, 2012 to June 30, 2013. This will add the <br /> North Kalaniana`ole Interceptor Sewer Rehabilitation Phase II project for$622,000 into this <br /> fiscal year's (FY2012-13) Capital Budget in the amount of$8 million as authorized by <br /> Ordinance 11-81. <br /> The request is to increase appropriation for SRF funding for this project to the maximum <br /> available loan amount in order to take advantage of the lower interest rates, should contingency <br /> items arise. <br /> Finance Director Nancy Crawford appeared before Your Committee and commented bringing <br /> numbers consistent. This request is to increase the appropriation of$622,000 for SRF funding. <br /> There was no further discussion on this measure. <br /> Chair Ford stated that a representative from Environmental Management is not required to attend <br /> the next Council meeting. <br /> Your Committee on Finance is in accord with the purpose and intent of Bill No. 282, and <br /> recommends its passage on 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 /> ONISH <br /> NISHI X <br /> PILAGO X <br /> SMART X BRENDA FORD, CHAIR <br /> YAGONG X FC REPORT NO. 241 <br /> YOSHIMOTO X ADOPTED: SEP 0 6 2012 <br />