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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: March 1, 2016 Re: Comm. No. 685/Res. No. 407-16 <br /> PLACE: Council Chambers <br /> Hilo, Hawai`i <br /> TIME: 2:00 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 Resolution No. 407-16, reports as follows: <br /> Resolution No. 407-16, transmitted by Finance Director Deanna S. Sako, via Comm. No. 685 dated <br /> February 11, 2016, authorizes the payment of funds of a later fiscal year and of more than one fiscal <br /> year for a multi-year lease of five semi-tractors for the Department of Environmental Management. <br /> This Resolution authorizes the Mayor to enter into a five-year lease agreement for five semi-tractors <br /> at an approximate cost of$2,275 per month per unit. The County will own the equipment at the end <br /> of the lease. <br /> Solid Waste Division Chief Greg Goodale came forward for comments and stated that this <br /> equipment will be purchased brand new. <br /> The vote was taken on the motion to approve and passed with nine ayes. <br /> Pursuant to Section 10-11 of the Hawai`i County Charter, any contract, lease or other obligation <br /> requiring the payment of funds from the appropriations of a later fiscal year or of more than one <br /> fiscal year shall be made or approved by resolution. <br /> Your Committee on Finance is in accord with the purpose and intent of Resolution No. 407-16, and <br /> recommends its adoption. <br /> wb <br /> AYES NOES ABS EX Respectfully submitted, <br /> CHUNG X <br /> DAVID X COMMITTEE ON FINANCE <br /> EOFF X <br /> ILAGAN X <br /> KANUHA X 1� <br /> ONISHI X C a.'`-Zx.) t <br /> PALEKA <br /> x KAREN EOFF, CHAIR <br /> POINDEXTER x FC REPORT NO.: 54 <br /> WILLE x ADOPTED: MAR 6 2016 <br />