HomeMy WebLinkAboutRES 701 Draft 01 1976-1980\/,
County of Hawaii—State of Hawaii
Resolution No. '70i
A RESOLUTION AUTHORIZING THE TEMPORARY LOAN 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, funds 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. 482 adopted by the County Council
on October 17, 1979, amended by Ordinance No. 511 adopted on
December 19, 1979, amended by Ordinance No. 551 adopted on March
5, 1980, amended by Ordinance No. 562 adopted on April 30, 1980,
the County issued and sold $7,500,000 in general obligation bonds
with the proceeds applicable only to undertake specific public
improvements listed in Ordinance No. 482, as amended;
WHEREAS, by Ordinance No. 631 adopted by the County Council
on September
29,
1980, the $2,000,000 in
authorized but
unissued bonds
were
authorized for application
to any public
improvement approved in Ordinance No. 586; the capital Budget
Ordinance for 1980-81, as well as to any public improvement
listed in Ordinance No. 482, as amended;
WHEREAS, the following public improvements are approved
in Ordinance No. 586 and cash funding is necessary in order to
expedite their completion:
Kailua Airport Park
Hualalai Road
Waimea Road
0
$135,000
50,000
100,000
$285,000
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 or loan $285,000 to the Capital Projects Fund from any
other fund which can wholly or partially accommodate such transfer
or loan; to be applied to the public improvements and in the
amounts as listed in this resolution;
BE IT FURTHER RESOLVED that the funds from which the transfer
or loans are made shall be reimbursed by the director of finance
from the proceeds of the 'bond sales upon the eventual issuance
and sale of the 'bonds, or by appropriations of the council.
Dated this '7th' day of "'November r 1980.
INTRODUCED BY:
Coun it ber ounty of Hawaii
COUNTY COUNCIL
County of Hawaii
Hilo, Hawaii
I I hereby certify that the foregoing RESOLUTION was by the vote indicated to
the right hereof adopted by the COUNCIL of the County of Hawaii on.
r
i November 7, 1980
..._..............----....------.......................................'--._.
it
ATTEST:
i
L �/'
R. B. LEOAS
COUNTY CL RK
ROLL CALL VOTE
I Chr. Yamashiro I x I I I
1 19 10 101
Rele,ence: _..C..
M.B. No. ..........
RESOLUTION NO . .............
AYES I NOES I A/E
Dahlberg
g
Domingo
X
Fujii
X
Garcia
X
Kawahara
X
Lai
X
Sameshima
I Chr. Yamashiro I x I I I
1 19 10 101
Rele,ence: _..C..
M.B. No. ..........
RESOLUTION NO . .............