HomeMy WebLinkAboutREP FC 195 02/20/2002 2000-2002 REPORT OF THE
COMMITTEE ON FINANCE
DATE: February 20, 2002 Re: Comm. No. 458.2/Res. No. 165-02
PLACE: Council Chambers
TIME: 9:07 A.M.
Council Chair and Members
Hawai`i County Council
Hilo, Hawai`i 96720
Your Committee on Finance,to which was referred Resolution No. 165-02, reports as follows:
Resolution No. 165-02, transmitted jointly with Bill No. 158, Bill No. 159 and Bill No. 160 by
Director of Finance William Takaba, via Communication No. 458.2, dated January 10, 2002,
amends transfers funds as follows:
From:
154-461-5464.17 Waikoloa Elec Substation County Housing Revolving $500,000
To:
154-801-5801.01 Transfer to General Fund $500,000
These funds will be returned to the General Fund, due to the termination of the Mutual Benefit
Agreement between Waikoloa Heights Investment Partners and the County of Hawaii.
During its discussion, Your Committee learned that original funding was transferred to match
private developer contributions into a mutual benefit agreement. However, the agreement
expired as none of the developments advanced.
For informational purposes, Mr. Tyler voted kanalua twice.
Your Committee on Finance is in accord with the purpose and intent of Resolution No. 165-02
and recommends its adoption.
smc
AYES NOES A&E EX Respectfully submitted
CHUNG X
PISICCHIO X COMMITTEE ON FINANCE
ARAKAKI X
ELARIONOFF X 41.JACOBSON X
LEITHEAD-TODD X
SAFARIK X AARON S.Y. CHUNG, CH A
TYLER X FC REPORT NO. 195
YAGONG X ADOPTED: MAR 0 8 2002