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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: September 18, 2012 Re: Comm. No. 844/Bill No. 307 <br /> PLACE: Council Chambers <br /> Kailua-Kona, Hawai`i <br /> TIME: 4:22 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 No. 307, reports as follows: <br /> Bill No. 307, transmitted by Council Member Brenda Ford via Communication No. 844, dated <br /> September 11, 2012, authorizes the issuance of general obligation bonds of the County of Hawai`i for <br /> the purpose of funding all or a portion of the costs of various public improvements projects; fixing <br /> the form, denominations, and certain other details of such bonds and providing for their sale to the <br /> public; and authorizing the taking of other actions relating to the issuance and sale of the bonds. <br /> Chair Brenda Ford relinquished the chair to Vice-Chair Dominic Yagong, and he assumed chair of <br /> the Finance Committee. <br /> The proposed bill authorizes for the issuance and sale, in one or more series, Bonds of the County, in <br /> an aggregate principal amount not to exceed $16,830,000, for the purpose of funding all or a portion <br /> of the costs (including costs of issuance of the Bonds), for the South Kona(Captain Cook) Police <br /> Station project. <br /> Ms. Ford commented it was during former Mayor Harry Kim's term that the land was acquired to <br /> build the new South Kona(Captain Cook) Police Station. Senator Josh Green and Representative <br /> Denny Coffmann were informed and support this proposed bill. She stated further that this will not <br /> solve the current crime sprees which South Kona is currently experiencing, but will serve as a long- <br /> term solution for South Kona. <br /> Ms. Ford seeks the support from Council Members. She stated that there are police stations in every <br /> district except South Kona. <br /> Your Committee on Finance is in accord with the purpose and intent of Bill No. 307, 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 /> ONISHI X <br /> PILAGO X <br /> SMART X BRENDA FORD, CHAIR <br /> YAGONG x FC REPORT NO. 262 <br /> YOSHIMOTO X ADOPTED: OCT 0 3 2012 <br />