HomeMy WebLinkAboutRES 323 Draft 01 1998-2000 COUNTY OF HAWAII STATE OF HAWAII
RESOLUTION NO. 323 00
A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF FUNDS FOR
UNDERTAKING PUBLIC IMPROVEMENTS
WHEREAS, Section 103-6, Hawaii Revised Statutes (HRS), authorizes the County
Director of Finance, with the consent of the County Council, to make temporary transfers or
loans from an appropriate fund under her control, subject to the requirements and restrictions of
Section 103-6, HRS; and
WHEREAS, such temporary use of funds is permitted where, in the judgment of the
Director of Finance, to do so is beneficial for the County and the requirements of Section 103-6,
HRS, have been met; and
WHEREAS, the funds maybe transferred for undertaking public improvements for which
the issuance and sale of general obligation bonds has been duly authorized by the Council in
accordance with Chapter 47, HRS; and
WHEREAS, the Council approved the public improvement project-Microwave
Relocation and System Renovation--by adopting Ordinance (Ord.) 00-50; and
WHEREAS, the Council also authorized, through adoption of Ord. 00-88, the issuance
and sale of $8,000,000 (EIGHT MILLION AND NO/100 DOLLARS) in general obligation
bonds for this project; and
WHEREAS, the County desires to start work on this public improvement; and
WHEREAS, the Director of Finance, in her judgment, has determined that such transfer
of funds will not impede the necessary or desirable financial operations of the County.
NOW, THEREFORE, BE IT RESOLVED by the Council of the County of Hawaii, that
the Director of Finance is authorized, in accordance with Section 103-6, HRS, to temporarily
transfer $2,000,000 (TWO MILLION AND NO/100 DOLLARS) to the Capital Project Fund
from the general fund in order to start this public improvement; and
BE IT FURTHER RESOLVED, that the general fund be reimbursed for this borrowing
by the Director of Finance from the proceeds upon the eventual issuance and sale of the bonds
authorized by Ord. 00-88.
DATED: Hilo, Hawaii, this day of , 2000.
INTRODUCED BY:
COUNCIL MEMBER, COUNT OF HAWAII
COUNTY COUNCIL ROLL CALL VOTE
County of Hawaii
Hilo, Hawaii AYES NOES ABS EX
ARAKAKI
I hereby certify that the foregoing RESOLUTION was by the CHUNG
vote indicated to the right hereof adopted by the COUNCIL of ELARIONOPP
the County of Hawaii on 7ACOBSON
LEITHEAD-TODD
ATTEST:
PISICCHIO
SM1TH
TYLER
YAGONG
Reference C-931/FC
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COUNTY CLERK CHAIRMAN & PRESIDING OFFICER RESOLUTION NO.