HomeMy WebLinkAboutREP FC 203 11/19/2007 2006-2008 REPORT OF THE
COMMITTEE ON FINANCE
DATE: November 19, 2007 RE: Comm. No. 802/Res. No. 419-07
PLACE: Sheraton Keauhou Bay Resort & Spa
78-128 `Ehukai Street
Kailua-Kona, Hawaii
TIME: 9:30 a.m.
Council Chair and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Resolution No. 419-07, reports as follows:
Resolution No. 419-07, transmitted by Director of Finance William Takaba, via Communication No.
802, dated November 19, 2007, authorizing the adoption of USDA Form Resolution 1780-27
providing for the incurrence of indebtedness for the financing of a Water Department Project referred
to as the Andrade Camp Waterline Improvements; to enter into an agreement with the United States of
America, pursuant to HRS 46-7, for the USDA Grant portion of the costs of the project; and to
authorize the Mayor, Manager of the Department of Water Supply, Finance Director and the Chair of
the County Council, to take all action(s) necessary to facilitate and execute such loan and grant
agreements.
The USDA has approved an application for financing assistance for a waterline improvement project
referred to as the Andrade Camp Waterline Improvements in Pepe`ekeo, County of Hawaii, such
assistance to be provided in the form of a loan, secured by a bond of the County, in the amount of
$147,000, and a grant in the amount of $510,500.
There was no discussion on this measure.
Your Committee on Finance is in accord with the purpose and intent of Resolution No. 419-07, and
recommends its adoption.
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AYES NOES A&E EX Respectfully submitted,
FORD X
RIGA x CO ITTEE ON FINANCE
HOFFMANN X
IKEDA X
JACOBSON R
NAEOLE x DOMINIC YAGO
PILAGO X FC REP R 203
YAGONG X
YOSHIMOTO X ADOPTED: DEC O 5 2DOI