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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: July 23, 2015 Re: Comm.No. 362/Bill No. 63 <br /> PLACE: Council Chambers <br /> Kailua-Kona, Hawai`i <br /> TIME: 5:35 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. 63, reports as follows: <br /> Bill No. 63, transmitted by Finance Director Deanna S. Sako, via Communication No. 362 dated <br /> July 7, 2015, amends Ordinance No. 15-58, as amended, relating to public improvements and <br /> financing thereof for the fiscal year July 1, 2015, to June 30, 2016. <br /> The following project is added: <br /> PUBLIC WORKS: <br /> Kapi`olani Street Extension, Mohouli Street to Lanikaula Street <br /> (110.388.5381.29) $500,000 <br /> Funds for this project shall be provided from: <br /> General Obligation Bonds, Capital Projects Fund - <br /> Fund Balance and/or other Sources $500,000 <br /> Funds would be used towards increased construction costs from unforeseen circumstances such as <br /> the discovery of unsuitable ground materials found while performing clearing, grubbing, and <br /> subgrade preparation work. <br /> Public Works Director Warren Lee appeared before Your Committee for questions via <br /> videoconference from Waimea. <br /> There was no discussion on this measure. <br /> Pursuant to Section 10-6(e), Hawai'i County Charter,the Council may amend the Capital Budget <br /> for that year with a two-thirds vote. <br /> FC Report No. 30 <br />