HomeMy WebLinkAboutREP FC 551 04/21/1992 REPORT OF THE
COMMITTEE ON FINANCE
Date: April 21, 1992 Re: Comm. 3577
Place: Councilroom
Time: 10 : 00 a.m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Resolution
No. 437-92, reports as follows :
The purpose of Resolution No . 437-92 is to authorize the short term
investment of County Monies in accordance with Section 46-50 of the
Hawaii Revised Statutes .
Comm. No. 3577, from Finance Director William Takaba, dated
April 13 , 1992, transmits Resolution 437 authorizing the short term
investment of County monies in accordance with Section 46-50 of the
Hawaii Revised Statutes . Informs they have received an investment
proposal from Bank of Hawaii to convert the County of Hawaii Time
Certificate of Deposits to Short Term Bank Repurchase Agreement
(Repo) investment .
Pursuant to Section 46-50 of the Hawaii Revised Statutes, entitled
"Short term investment of county monies" , the Director of Finance of
each county may, with the approval of the legislative body, invest
county moneys which are in excess of the amounts necessary for the
meeting of immediate requirements when in the judgment of the
legislative body such action will not impede or hamper the necessary
financial operations of the county.
Your Committee on Finance concurs with the intent of Resolution
No . 437-92 and recommends its adoption.
HELENS H. HALE, CHAIRWOMAN
ROBERT H. MAKUAKANE, VICE CHR. BR N J. DE LIMA, MEMB R
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TAK SHI DOMI17G0, M ER ��� ME ER
HARRY S. UDDLE, MEMBER "PENC R K. SCHUTTE, MEMBER
EJT FC REPORT No, 551
ADOPTED : MAY 6 1992