HomeMy WebLinkAboutREP FC 602 08/31/1992 .044". REPORT OF THE
COMMITTEE ON FINANCE
Date: August 31, 1992 Re: Comm. 4035
Place: Councilroom -
Time: 9 : 00 a .m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Resolution
No . 509-92, reports as follows :
The purpose of Resolution No . 509-91 is to approve the lease
requirement for the purchase option plan to acquire nine (9)
additional transit vehicles as part of the County' s Transit Vehicle
Enhancement Project .
Section 10-11 of the County Charter compels that any contract, lease
or other obligation requiring payment of funds from the
appropriations of a later fiscal year or more than one fiscal year
be approved by resolution.
Your Committee understands that the lease agreement with purchase
option is for the acquisition of two (2) specialized wheelchair
transport vans, two (2) four-wheel drive accessible vans and
five (5) 40 ' accessible "coach type" buses along with a spare engine
and transmission.
Your Committee also recognizes this obligation requiring payment of
funds from the appropriation of later fiscal years .
The following table reflects the funding requirements :
Vans Buses Total
FY 92-93 -0- -0- -0-
FY 93-94 $ 55, 128 $111, 970* $167, 098
FY 94-95 55, 128 268, 728 325,464
FY 95-96 55, 128 268, 728 325,464
FY 96-97 55, 128 268 , 728 325 , 464
FY 97-98 -0- 268, 728 268 , 728
FY 98-99 -0- 268 , 728 268, 728
FY 99-2000 -0- 268, 728 268, 728
FY 2000-01 -0- 156, 758# 156, 758
$220, 512 $1, 881, 096 $2, 101, 608
* - 5 months lease payments
# - 7 months lease payments
Notes : (FY 92-93 outright purchase price) = $1, 650, 000
Lease payments to commence upon acceptance of equipment .
FC REPORT N0 , 602
ADOPTED: SEP 1 t•)92
Your Committee is aware that the Commission, in approving Resolution
No . 403-92 and Ordinance No. 92-10, authorized the transit agency to
up-grade and replace the aging vehicle fleet of the County' s Hele-On
Buses and elderly transportation programs .
Your Committee would like to amend the resolution from "the Mayor is
authorized to enter into a lease agreement" to "the Mayor is
authorized to negotiate a lease agreement . "
Your Committee would like to insert "BE IT RESOLVED that upon
'completion of the negotiation of the lease agreement, the transit
agency shall attach said lease agreement with the resolution and
submit to Council for approval . "
Your Committee on Finance does not concur with the general intent of
Resolution 509-92 and recommends that it submit Resolution 509-92,
Draft 2, for adoption.
Respectfully submitted,
COMMITTEE ON FINANCE AYES NOES •
ALONZO X
*Mr'
�, ARAKAKI X
47.017"'‘ Y. �•' I , CHAIRMAN DE LIMA !
X
DOMINGO X
LA/DI LAI X
MAKUAKANE X
RUDDLE
X
FC REPORT NO. 602
ADOPTED: