HomeMy WebLinkAboutRES 211 Draft 01 1994-1996COUNTY OF HAWAII STATE OF HAWAII
RESOLUTION N0. xI2 95
A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF FUNDS
FOR UNDERTAKING PUBLIC IMPROVEMENTS
WHEREAS, Section 103-6, Hawaii Revised Statutes,
authorizes the County Director of Finance, with the
consent of the Council, to make temporary transfers or
loans from any fund except pension or retirement funds,
fund under the control of any independent board or
commission, funds set aside for redemption of bonds or the
payment of interest thereon, and private trust funds, and
where in his judgment such action will not impede the
necessary or desirable financial operations of the County,
for undertaking public improvements for which the issuance
or sale of the general obligation bonds have been duly
authorized;
WHEREAS, by Ordinance No. 95-82 adopted by the County
Council on July 5, 1995, $30,000,000 in general obligation
bonds were authorized for issuance and sale to provide
funds to undertake public improvements approved in
Ordinance No. 93-50, as amended (the capital budget
ordinance for the fiscal year ended June 30, 1994),
Ordinance No. 94-70, as amended (the capital budget
ordinance for the fiscal year ended June 30, 1995), and
Ordinance No. 95-75, as amended (the capital budget
ordinance for the fiscal year ended June 30, 1996);
WHEREAS, the County desires to undertake public
improvements listed in the ordinances;
NOW, THEREFORE, BE IT RESOLVED by the Council of the
County of Hawaii that the Director of Finance be
authorized in accordance with Section 103-6, Hawaii
Revised Statutes, to temporarily transfer $7,000,000 to
the Capital Projects Fund from the General Fund in order
to undertake these public improvements.
BE IT FURTHER RESOLVED that the General Fund shall be
reimbursed by the Director of Finance from the proceeds of
the bond sales upon the eventual issuance and sale of the
bonds.
Dated at Hilo, Hawaii, this 5th day of December 1995.
INTRODUCED BY:
i~
_\~ ,
~ ~~-
ILIMEMBER, COUNTY Ut'' t1AWA11
COUNTY COUNCIL
County of Hawaii
Hilo. Hawaii
I hereby certify that the foregoing RESOLUTION was by the
vote indicated to the right hezeof adopted by the COUNCIL of
the County of Hawaii on December 5 , 199/5n/ ,
A //
I I AYFS 1 NOEg I AHS I ~C
C-ABRAMSON X
.Dg X
;~ X
INCO
uo x
~ x
x
i'H x
s
Reference - 771
COUNTY CLERK CHAIRMAN & PRESIDING OFFICER RESOLUTION NO