HomeMy WebLinkAboutREP FC 035 02/01/2005 2004-2006 REPORT OF THE
COMMITTEE ON FINANCF,
DATE: February 1, 2005 Re: Comm. No. 81/Res. No. 36-OS
PLACE: Council Chambers
TIME: 11:38 a.m.
Council Chair Safarik and Members
Hawai°i County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Resolution No. 36-05, reports as follows:
Resolution No. 36-05, transmitted by Director of Finance William Takaba, via Communication
No. 81, dated January 20, 2005, requests that the State of Hawaii, pursuant to Chapter 39B of
the Hawaii Revised Statutes, allocate an additional unused 2004 private activity bond authority
to the County of Hawaii.
Fhe County of Hawaii wishes to initiate asingle-family loan program similar to the State's Hula
Mae Single Family Program for the residents of Hawaii County. The County intends to work
cooperatively with the State to create asingle-family homeownership loan program that will
compliment the State's housing programs and initiatives.
Pursuant to Chapter 39B, Hawaii Revised Statutes, a county may request additional allocations
of the annual state private activity bond ceiling from the State.
During its discussion, Your Committee was assured that al] Federal requirements shall be met.
Your Committee on Finance is in accord with the purpose and intent of Resolution No. 36-OS
and recommends its adoption.
smc
Hues goes .~~e ex Respectfully submitted,
ARAKAKI X
HIGA X COMMITTEE ON FINANCF
HOFFMANN X _
HOLSCHUH X _ ~ -
IKEDA X ~
ISBELL X L° i'~".~---~- ra-~~U..~
~ACOesoN X VIRG IA ISBELL, CHAIR
PILAGO X _ FC REPORT ~B-~~3~~_~
SAFARIK X ADOP'T'ED: r t 1 b LJJ~