HomeMy WebLinkAboutREP FC 335 10/19/2004 2002-2004REPORT OF THE.
COMMITTEE ON FINANCE
DATE: October 19, 2004
PLACE` Council Chambers
FIM{?: 125 p.m.
Re: Comm. No. 798/Bill No. 348
Council Chair and Members
Hawaii County Council
Hilo. Hawaii 96720
Your Committee on Finance, to which was referred Dill No. 348, reports as follows:
Dill No. 348, transmitted by Councilmember Aaron S.Y. Chung, via Communication No. 798, dated October
5. 2004. amends Ordinance No. 04-59 of the County of Hawai' i adopted on May 19, 2004, relating to the
issuance of general obligation bonds ibr the purpose of financing various public improvements for the
County of Hawaii.
Ordinance No. 04-59 authorized the County of Hawaii to issue and sell general obligation bonds in the
amount of $40.000,000. Section 14 of the ordinance consisted of a list of public improvement projects to he
funded.
The purpose of [his bill is to add to the following projects:
• 3park-and-ride facilities in Puna. South Kona and North Kona ......$1,500.000
. Sand Gulch bypass road in Hamakua ................................................$2.400.000
. Laupahoehoe emergency access road ................................................ $ 100.000
. Transportation enhancement projects in Hilo ....................................$1,000,000
TOTAL ....................... $5.000.000
Your C ommittee heard and received testimony in favor of the measure.
During its discussion. Your Committee agreed to the tbllowing amendments:
I . Amended the park-and-ride facilities to include Hamakua.
2. Increased the general obligation bond authorization from $45 million to $47 million. The purpose of
the additional $2 million is to fund much needed islandwide facility planning efforts, such as roadway
corridors, sewer and solid waste infrastructure, and multimodal transportation planning.
3. Additional style changes to the distribution amounts were made.
Your Cunvnittee on Finance is in accord with the purpose and intent of Bill No. 348, as amended to Draft 2.
and recommends it pass first reading.
smc
:\Yfs M1Ora \ffi H. H:\
CHUNG X
SA FARIK X
ARAKAKI X
ELARIONOFF X
HOLSCHUH X
.IACOBSON X
REYNOLDS X
TULANG X
TYLER x
Respectfully submitted
COM 11°fEE ON FINANCE.
.. ~~ .
S.Y CIi~1NG. C'HA{R
FC REP~}RT NO. 3
ADOPTED: NOVA