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COUNTY OF HAWAII <br />ORDINANCE NO. <br />STATE OF HAWAII <br />as sos <br />BILL NO. 292 <br />Draft 2 <br />AN ORDINANCE AMENDING CHAPTER 2 OF THE HAWAII COUNTY CODE 1983 <br />(2005 EDITION), ADMINISTRATION, RELATING TO BUDGET STABILIZATION FUND. <br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br />SECTION 1. Chapter 2 of the Hawaii County Code 1983 (2005 Edition), is amended by <br />adding a new article to be appropriately designated and to read as follows: <br />Article . Budget Stabilization Fund. <br />Section 2- Creation of fund. <br />Pursuant to section 10 -12 Hawaii County Charter 2000, a special fund to <br />be known as the budget stabilization fund is created for the purpose of meeting <br />general fund revenue shortfalls and to minimize the need for budget cuts or tax <br />increases The budget stabilization fund shall be a temporary supplemental source <br />of funds for the County to use during times of financial hardships while a plan for <br />cost reduction or revenue enhancement is developed. <br />Funding. <br />moneys shall be transferred to this fund as recommended by the mayor and <br />approved by the council. <br />Section 2- <br />and the director of finance determines that such use is necessary to prevent a <br />reduction in the level of public services. <br />Section 2- <br />LIJ Written determination by the director of finance that such <br />appropriations are necessary: and <br />(� Passage of an appropriations ordinance by two- thirds vote of the <br />council. <br />