HomeMy WebLinkAboutREP FC 109 08/28/2001 2000-2002 I~EFORT OF TIIE
COMMITTEE ON FINANCE
DATE: August 28, 2001 Re: Comm. No. 312/Res. No. 113-01
PLACE: Council Chambers
TIME: 10:05 A.M.
Council Chair and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Resolution No. 113-01, reports as follows:
Resolution No. 113-O1, transmitted by Director of Finance William Takaba, via
Communication No. 312, dated August 14, 2001, clarifies the types of short term investments of
county monies in accordance with Section 46-50 of the Hawaii Revised Statutes (HRS).
The County Council adopted Resolution No. 437-92 on May 6, 1992, which directed the Director
of Finance to invest 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 HRS.
Pursuant to Section 46-50 of the 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.
Your Committee, during its discussion of Resolution No. 113-01, made the following
amendments:
1. Amending the 1 S` Whereas clause to read as follows: "...for the meeting of
immediate requirements in theaudg_ment of the legislative body, such action will
not impede or hamper the necessary financial operations of the County; and"
2. Changing the resolved clause to read "...have been clarified and amended to reflect
those [presently] listed in Section 46-50 of the Hawaii Revised Statutes.
Your Committee on Finance is in accord with the purpose and intent of Resolution No. 113-01, as
amended to Draft 2, and recommends its adoption.
smc
APES NOES A&E Ex Respectfully submitted
cwuNC x
P~s~ccH~o x COMMITTEE ON FINANCE
ARAKAKI X
ELARIONOFF X
JACO~SON X ~
LEITELEAD-TODD X
SAFARIK x AARON S.Y. CHUNG, CH
TYLER X FC REPORT NO. _ l09
YAGONC X ADOPTED: _
COMMITTEE ON FINANCE
REPORT 109
(AMENDED}
~y motion duly mad' and seconded the County Council amended Finance
Committee Report 109 witl~the following changes:
1) Amending the 1st Whereas clause to read as follows: "...for the meeting
of immediate requir ~ments in the~udgrr?ent of the legislative body, such action
will not imt~ede or h~imper the necessary financial operations of the County; and"
2) Changing thej resolved clause to read "...have been clarified and amended
to reflect those [pres~ntly] listed in Section 46-50 of the Hawaii Revised Statutes.
Finance Committee ))Zeport 109, as amended, was adopted by the following voice
vote:
AYES: Councilmembers Chung, Elarionoff,
Jacobson, Leithead-Todd, Pisicchio,
Safarik, Tyler, Yagong and
Chairman Arakaki - 9.
NOES: None.
I hereby certif}p that amended Finance Committee Report 109
was adopted by the Hawaii County Council on September 12, 2001.
` -
COUNTY CLERK CO CIL CHAIRMAN
FC REPORT NO. 109 (AMENDED)
ADOPTED: September 12, 2001
REPORT OF THE
.,COMMITTEE ON FINANCE
DATE: August 28, 2001 Re: Comm. No. 312/Res. No. 1 13-01
PLACE: Council Chambe~{s
TIME: 10:05 A.M.
Council Chair and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to jwhich was referred Resolution No. 113-01, reports as follows:
Resolution No. 113-01, transmi ed by Director of Finance William Takaba, via
Communication No. 312, dated ugust 14, 2001, clarifies the types of short term investments of
county monies in accordance wi h Section 46-50 of the Hawaii Revised Statutes (HRS).
The County Council adopted Rel olution No. 437-92 on May 6, 1992, which directed the Director
of Finance to invest County mor~ies which are not necessary for the meeting of immediate
requirements in one or more of t~e type of investments, then noted in Section 46-50 of the HRS.
Pursuant to Section 4b-50 of the~HRS, entitled "short term investment of county moneys," the
Director of Finance of the Coun of Hawaii, may, with the approval of the Council, invest
county monies which are in exe~ss of the amounts necessary for the meeting of immediate
requirements.
Your Committee, during its discussion of Resolution No. 113-01, made the following
amendments:
1. Amending the 151 Where s clause to read as follows: "...for the meeting of
immediate requirements n the 'ud ent of the le islative bod such action will
not im ede or ham er th neeessar financial o erations of the Count ;and"
2. Changing the resolved c~use to read "...have been clarified and amended to reflect
those [presently] listed i Section 46-50 of the Hawaii Revised Statutes.
Your Committee on Finance is ~ accord with the purpose and intent of Resolution No. 113-01, as
amended to Draft 2, and recomrt~ends its adoption.
smc
nr~ES NaES, n&E EX Respectfully submitted
CHUNG X
PISICCHlO x ~ COMMITTEE ON FINANCE
ARAKAK! X '
ELARIONOFF X
i
JACO~SON X
LEITH EAD-TODD X
SAFARIK x AARON S.Y. CHUNG, CH
TYLER X FC REPORT NO. _ 109
YAGONG X ADOPTED: _ _