HomeMy WebLinkAboutREP FC 176 11/16/1999 1998-2000 REPORT OF THE
COMMITTEE ON FINANCE
DATE: November 16, 1999 Re: Comm. No. 526/Res. No. 169-99
PLACE: Councilroom
TIME: 10:40 A.M.
Chair and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Resolution No. 169-99, reports as follows:
Resolution No. 169-99, transmitted by Finance Director Harry Takahashi, via Communication
No. 526, dated October 28, 1999, authorizes and provides for the incurrence of indebtedness for
the purpose of providing a portion of the construction costs for the East Hawaii Police Detention
Facility.
The County of Hawaii Police Department desires to raise a portion of the costs of constructing
the East Hawaii Police Detention Facility by issuing bonds in the principal amount of $1.5
million.
The County intends to obtain assistance for the United States Department of Agriculture Rural
Development Agency, in the financing of such an undertaking.
A second draft of Resolution No. 169-99 was referred to Your Committee which amended the
original amount of $1.5 million to $1.8 million.
Some members of Your Committee requested further information from the USDA, Rural
Development Agency relating to repayment, and federal loan procedures.
For informational purposes, Mr.Yagong voted kanalua then no, and Mr. Tyler voted kanalua
twice.
Your Committee on Finance is in accord with the purpose and intent of Resolution No. 169-99,
as amended to Draft 2, and recommends its adoption.
Ici
AYRS NONS A&E F.X
Respectfully submitted
CHUNC X
ELARIONOFF x COMMITTEE ON FINANCE
JACOBSON X
LEITHEAD-TODD X
PISICCHIO X
SMITH X
TvLER x AARON S.Y. CHUNG, CH IR
vAGONG X FC REPORT NQQ. 1
ARA KAKI, E.O.M. X ADOPTED: DEI.