HomeMy WebLinkAboutREP FC 160 11/04/1997 1996-1998 REPORT OF THE
COMMITTEE ON FINANCE
DATE: November 4, 1997 Re: Comm. No. 540Bi11 No. 154
PLACE: Councilroom
TIME: 2:00 P.M.
Chair and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill No 154, reports as follows:
Bill No. 154, transmitted jointly with Bill No. 153 by Finance Director Hazry Takahashi, via
Communication No. 540, dated October 10, 1997, authorizes the issuance of $1,000,000 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 State Department of Health has agreed to fund the Disappearing Sands Sewage Pump
Station Project by and through the Water Pollution Control Revolving Fund. The said fund was
established for the purpose of receiving Federal and State funds to provide financial assistance to
governmental agencies for the planning, design and construction of certain County of Hawaii
wastewater treatment projects.
Pursuant to Chapter 3, Section 5-3.3(c) of the Hawaii County Charter, the Director of Finance
shall negotiate loans and the issuance and sale of bonds and notes when authorized by the
Council.
Jointly, Bill No. 153 appropriates the project of $1,000,000 funded by SRF funds.
Your Committee on Finance is in accord with the purpose and intent of Bill No. 154 and
recommends it pass first reading.
Ikc
Ayea Noes A&E F.X
Respectfully submitted
CHUNG X
LEITHEAD-TODD X COMMITTEE ON FINANCE
RAY X j 1 11
SANTANGELO X ~ ~ ~
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SMITH X
TYLER X AARON S.Y. CHUNG, C AIR
YAGOxc X FC REPORT NO. 160
ARAKAKI, F..O.M. ADOPTED: NOV