HomeMy WebLinkAboutREP FC 102 10/20/2009 2008-2010
REPORT OF THE
COMMITTEE ON FINANCE
DATE:
PLACE:
October 20, 2009
Councilroom
Ben Franklin Building, 2nd Floor
Hilo, Hawai'i
9:53 a.m.
TIME:
Council Chair and Members
Hawai'i County Council
Hilo, Hawai'i 96720
Re: Comm. No. 570/Bill No. 160
Your Committee on Finance, to which was referred Bill No. 160, reports as follows:
Bill No. 160, transmitted by Finance Director Nancy Crawford via Communication No. 570,
dated October 7,2009, authorizes the issuance of up to $31 million in general obligation bonds
of the County of Hawai'i for the Department of Water Supply (DWS).
These funds will be used for additions, improvements and betterments to and extensions of the
properties of water systems of the DWS, including the acquisition of land for such purposes.
The DWS will reimburse the General Fund for the related debt service on the bonds and the cost
of issuance.
Council Member Ford requested a list ofthe CIP projects which may be funded with this bond
issuance be provided for first reading at Council.
Communication No. 570.1, dated October 19,2009, from Director of Finance Nancy Crawford
requesting an amendment to section 13 of Bill No. 160, was circulated. Your Committee did not
act upon the proposed amendment.
Your Committee on Finance is in accordance with the purpose and intent of Bill No. 160 and
recommends it pass first reading.
kk
AYES NOES A&E EX
ENRIQUES X
FORD X
GREENWELL X
HOFFMANN X
IKEDA X
NAEOLE X
ONISHI X
YAGONG X
YOSHIMOTO X
Respectfully submitted,
COMMITTEE ON FINANCE
~~
DONALD IKEDA, VICE CHAIR
Fe REPORT NO. 102
ADOPTED: NOV 0 4 200L