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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> <br /> DATE: June 2, 1998 Re: Comm. No. 847Bi11 No. 248 <br /> PLACE: Councilroom <br /> TIME: 10:45 A.M. <br /> Chair and Members <br /> Hawaii County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Bill No. 248, reports as follows: <br /> <br /> Bill No. 248, transmitted by Finance Director Hazry Takahashi, via Communication No. 847, <br /> <br /> dated May 1, 1998, authorizes the issuance of $9 million general obligation bonds for the <br /> <br /> purpose of financing qualified wastewater public improvements of the County of Hawaii; fixing <br /> <br /> the form, denominations, and certain other details of such bonds and providing for their sale to <br /> <br /> the Department of Health of the State of Hawaii to secure one or more loans by said department. <br /> <br /> The Qualified Wastewater Projects of the County to be financed from proceeds of general <br /> <br /> obligation bonds to be sold to the Department of Health are as follows: <br /> <br /> Paukaa Community Sewer $2,000,000 <br /> <br /> Kalanianaole Collector Sewer, Phase II $3,000,000 <br /> <br /> Kaumana Gazdens Collector Sewer $4,000,000 <br /> <br /> The funds for the Paukaa Community Collector Sewer were previously appropriated by <br /> <br /> Ordinance No. 96-68. A subsequent appropriation and bond authorization for $2.5 million was <br /> <br /> meant to supercede the previous appropriation. However, final estimates for the project have <br /> increased to $3,324,199. Furthermore, a significant portion of the old plantation line has <br /> <br /> deteriorated and in need of replacement to prevent sewage spills. Costs to replace the line may <br /> <br /> exceed an additional $1 million. <br /> <br /> Funds for the Kalanianaole Collector Sewer, Phase II and the Kaumana Gazdens Collector Sewer <br /> <br /> were previously appropriated as grant conditions for the Hilo Wastewater Treatment Plant. <br /> <br /> Your Committee on Finance is in accord with the purpose and intent of Bill No. 248 and <br /> <br /> recommends it pass first reading. <br /> Ici <br /> Ayes noes A&E Ex Respectfully submitted <br /> CHUNG X <br /> LEITHEAD-TODD X CQ TT ON FINANCE <br /> RAY X <br /> SANTANGELO X <br /> SMITH X <br /> TYLER x AARON S.Y. CHUNG, CHAIR <br /> vncoNC X FC REPORT NOS. 4r <br /> ARAKAKI, E.O.M. ADOPTED: <br /> <br />