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COUNTY OF HAWAI`I '* -" /l• STATE OF HAWAI'I <br /> j+ T <br /> RESOLUTION NO. 203 25 <br /> A RESOLUTION AUTHORIZING THE PAYMENT OF FUNDS OF LATER FISCAL <br /> YEARS TO ENTER INTO A MULTI-YEAR LEASE AGREEMENT FOR ONE <br /> ASPHALT PAVER TO BE USED BY THE DEPARTMENT OF PUBLIC WORKS. <br /> WHEREAS, Section 10-11 of the Charter of the County of Hawai`i (hereinafter"the <br /> Charter")provides, in part,that"any contract, lease or other obligation requiring the payment of <br /> funds from the appropriations of a later fiscal year or of more than one fiscal year shall be made <br /> or approved by resolution"; and <br /> WHEREAS,the Department of Public Works (hereinafter"the Department")wishes to <br /> enter into a multi-year lease agreement,with a term of five years, for an asphalt paver; and <br /> WHEREAS,this asphalt paver will be used by County personnel within the <br /> Department's Highways Division for construction, resurfacing, and maintenance projects; and <br /> WHEREAS, the Department estimates the cost of this lease to be$9,374.03 monthly and <br /> $112,488.36 annually over the five-year term of the lease, at the end of which the County will <br /> own the paver; and <br /> WHEREAS,the Department's Highways Divisions currently operates with two asphalt <br /> pavers for the entire County, and the addition of another paver will increase productivity and <br /> efficiency of operations; now,therefore, <br /> BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAI`I that the <br /> Mayor is hereby authorized to enter into a lease agreement with a term of five years for the <br /> purposes hereinabove described. <br /> 1 <br />