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Home My WebLink AboutREP FC 249 06/02/1998 1996-1998 REPORT OF THE COMMITTEE ON FINANCE DATE: June 2, 1998 Re: Comm. No. 847Bi11 No. 248 PLACE: Councilroom TIME: 10:45 A.M. Chair and Members Hawaii County Council Hilo, Hawaii 96720 Your Committee on Finance, to which was referred Bill No. 248, reports as follows: Bill No. 248, transmitted by Finance Director Hazry Takahashi, via Communication No. 847, dated May 1, 1998, authorizes the issuance of $9 million general obligation bonds for the purpose of financing qualified wastewater public improvements of the County of Hawaii; fixing the form, denominations, and certain other details of such bonds and providing for their sale to the Department of Health of the State of Hawaii to secure one or more loans by said department. The Qualified Wastewater Projects of the County to be financed from proceeds of general obligation bonds to be sold to the Department of Health are as follows: Paukaa Community Sewer $2,000,000 Kalanianaole Collector Sewer, Phase II $3,000,000 Kaumana Gazdens Collector Sewer $4,000,000 The funds for the Paukaa Community Collector Sewer were previously appropriated by Ordinance No. 96-68. A subsequent appropriation and bond authorization for $2.5 million was meant to supercede the previous appropriation. However, final estimates for the project have increased to $3,324,199. Furthermore, a significant portion of the old plantation line has deteriorated and in need of replacement to prevent sewage spills. Costs to replace the line may exceed an additional $1 million. Funds for the Kalanianaole Collector Sewer, Phase II and the Kaumana Gazdens Collector Sewer were previously appropriated as grant conditions for the Hilo Wastewater Treatment Plant. Your Committee on Finance is in accord with the purpose and intent of Bill No. 248 and recommends it pass first reading. Ici Ayes noes A&E Ex Respectfully submitted CHUNG X LEITHEAD-TODD X CQ TT ON FINANCE RAY X SANTANGELO X SMITH X TYLER x AARON S.Y. CHUNG, CHAIR vncoNC X FC REPORT NOS. 4r ARAKAKI, E.O.M. ADOPTED: