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REPORT OF THE <br />COMMITTEE ON FINANCE <br />DATE: August 20, 2013 Re: Comm. No. 371 /Res. No. 157 -13 <br />PLACE: Council Chambers <br />Kona, Hawaii <br />TIME: 9:10 a.m. <br />Council Chair and Members <br />Hawaii County Council <br />Hilo, Hawaii 96720 <br />Your Committee on Finance, to which was referred Resolution No. 157 -13, reports as follows: <br />Resolution No. 157 -13, transmitted by Finance Director Nancy Crawford, via Communication No. 371 <br />dated July 31, 2013, accepts the negotiated lease agreement for Hamakua lands identified as Tax Map <br />Key (3)4 -3- 007 -001 with Abba's Garden LLC, pursuant to Section 2 -114 of the Hawaii County Code. <br />The parcel consists of 92 acres, and will be leased for a term of 10 years at $10,585.41 per year, with an <br />option of two additional 10 year terms. <br />There was no discussion on this measure. <br />Pursuant to Section 2- 114(d), Hawaii County Code, the Council may require in the initial resolution <br />that the negotiated agreement be accepted by the Council; also, pursuant to Section 10 -10, Hawaii <br />County Code, any contract or lease or other obligation requiring payment of funds from the <br />appropriation of a later fiscal year must be approved by resolution. <br />Your Committee on Finance is in accord with the purpose and intent of Resolution No. 157 -13, and <br />recommends its adoption. <br />sc <br />Respectfully submitted, <br />COMMITTEE ON FINANCE <br />VALERIE T. POINDEXTER, CHAIR <br />FC REPORT NO.: 82 <br />ADOPTED: SEP n 5 2013 <br />AYES <br />NOES <br />A &E <br />EX <br />EOFF <br />X <br />FORD <br />X <br />ILAGAN <br />X <br />KANUHA <br />X <br />KERN <br />X <br />ONISHI <br />X <br />POINDEXTER <br />X <br />WILLE <br />X <br />YOSHIMOTO <br />X <br />Respectfully submitted, <br />COMMITTEE ON FINANCE <br />VALERIE T. POINDEXTER, CHAIR <br />FC REPORT NO.: 82 <br />ADOPTED: SEP n 5 2013 <br />