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HomeMy WebLinkAboutRES 113 Draft 01 2000-2002 COUl~1TY OF I-IAWAI`I STATE OF I~AWAI`I RESOLUTI01o1 NO. O~ RESOLUTION CLARIFYING TIME TYPES OF SHORT TERM INVESTMENTS OF COUNTY MONIES IN ACCORDANCE WITH SECTION 46-50 OF TIME HAWAII REVISED STATUTES WHEREAS, pursuant to Section 46-50 of the Hawaii Revised Statutes (HRS), entitled "short term investment of county moneys", the Director of Finance of the County of Hawaii, may, with the approval of the Council, invest county monies which are in excess of the amounts necessary for the meeting of immediate requirements; and WHEREAS, pursuant to Resolution No. 437-92, adopted by the Council of the County of Hawaii on May 6, 1992, such approval and authorization was granted to the Director of Finance to invest those County monies which are not necessary for the meeting of immediate requirements in one or more of the type of investments then noted in Section 46-50 of the Hawaii Revised Statutes; and WHEREAS, Section 46-50 of the Hawaii Revised Statutes was amended in 1998 to allow additional types of short term investments that could be made with county monies and to extend the maturity period from three (3) to five (5) years from the date of investment. NOW, THEREFORE, ~E IT RESOLVED ~Y THE COUNCIL OF THE COUNTY OF HAWAII, that the types of short term investments, in which the Director of Finance is authorized to invest County monies, have been clarified and amended to reflect those presently listed in Section 46-50 of the Hawaii Revised Statutes. 13E IT FURTHER RESOLVED, that a copy of this resolution be transmitted to the Department of Finance. Dated at Hilo, Hawaii, this day of , 2001. INT UCED BY: 1~ COUNCIL MEM R, COUNTY F HAWAII COUNTY COUNCIL ROLL CALL VOTE County of Hawaii Hilo, Hawaii AYES NOES ABS EX ARAKAKI I hereby certify that the foregoing RESOLUTION was by the CxUNG vote indicated to the right hereof adopted by the COUNCIL of ELARIONOFF the County of Hawaii on 1ACOBSON LEITHEAD-TODD ATTEST: PISICCHIO SAFARIK TYLER YAGONG Reference C-312/FC COUNTY CLERK CHAIRMAN & PRESIDING OFFICER RESOLUTION NO.