HomeMy WebLinkAboutREP FC 205 12/06/2005 2004-2006 REPORT OF THE
COMMITTEE ON FINANCE
DATE: December 6, 2005 Re: Comm. No. 564/Bill No. 185
PLACE: Sheraton Keauhou Bay Resort and Spa
78-128 `Ehukai Street
Kailua-Kona, Hawaii
TIME: 9:00 a.m.
Council Chair and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill No. 185, reports as follows:
Bill No. 185, transmitted by llirector of Finance William Takaba, via Communication No. 564,
dated November 18, 2005, authorizes the issuance of $50,000,000 general obligation bonds of
the County of Hawai `i for the purpose of funding all or a portion of the cost of various
improvement projects for the County and the Department of Water Supply; fixing the form,
denominations, and certain other details of such bonds and providing for their sale to the public;
and authorizing the taking of other actions relating to the issuance and sale of the bonds and the
retirement of the bonds to be refunded.
Of the $50 million in general obligation bonds, $25 million is included for the Department of
Water Supply (DWS). The DWS will reimburse the General Fund for its share of the debt
service on the bonds and the cost of issuance. Currently, there aze a number of high priority
projects that aze ongoing or ready to initiate which require funding within the next six months to
continue, such as construction to meet legal mandates, repairs to facilities, expansion and
replacement of facilities, new facilities, and road and traffic improvements as follows:
Mandates/ E nvironmenta
ADA Compliance - P&R $2,250,000
Naalehu & Pahala LCC replacement $ 220,000
Honokaa LCC Replacement $ 600,000
Repair of Facilities
Central Police Station repairs $1,000,000
County Building repairs $5,500,000
Rural transfer stations $ 500,000
Repairs to facilities - P&R $1,255,000
Konawaena Swimming Pool $1,175,000
Kailua Park $ 850,000
Expansion/Replacement of Facilities
Alae Cemetery $1,000,000
Hilo Bayfront Beach Park $ 300,000
master plan
Pahoa Fire Station $ 300,000
FC REPORT NO. 205
New Facilities
Fire Admin Complex $2,500,000
Kalaoa Fire Station $2,150,000
Microwave tower $ 460,000
Road and Traffic Improvements
Palani Road Safety Impr $1,359,000
Your Committee received testimony in favor to the measure from Lunakanawai Hauanio.
Director of Finance William "I'akaba explained that this measure is written to provide flexibility
that would allow money to be transfen-ed to a project that needs more funds or transferred out
should a project no longer need funding. Also, Mr. Takaba advised the Council Members to
meet with each department to go over existing or future projects that they are interest in.
Committee Chair Virginia Isbell pointed out that West Hawaii is getting twice as much funding
as East Hawaii including the two largest projects for the Department of Water Supply that are in
West Hawaii.
Your Committee on Finance is in accord with the purpose and intent of Bill No. 185
recommends it pass first reading.
smc
noes noes a&e ex Respectfully submitted,
ARAKAKI X
HIGA x COMMITTEE ON FINANCE
HOFFMANN X
HOLSCHUH X ~ ^
i r ~
IKEDA X ~ \
lSBELL X ~ Lc" ~,vl
JACOBSON x VIRGI ]A ISBELL, CHAIR
PILAGO X FC REPORT NO. c1 205
SAFARIK X ADOPTED: DEC 2 ~ 7(lfl5