HomeMy WebLinkAboutREP FC 126 02/11/1986 1984-1988 0 REPORT OF THE •
COMMITTEE ON FINANCE
Date : February 11 , 1986 Re: Comm. 425
Place: Councilroom
Time: 9 :00 a . m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance , to which was referred Bill 129, reports as
follows:
The purpose of Bill 129 is to authorize the Department of Finance to
proceed with the termination of Improvement District No . 5 ( Kishi
Subdivision, South Kona) .
The bill will authorize the Department of Finance to cancel payments
for Installments 17 through 20 and provide refunds to those who have
prepaid. Any additional excess monies shall be refunded on a prorata
basis . The beneficiaries of these actions shall be the title holders
at the time of the refund. The Finance Director shall have the
authority to withhold monies he deems necessary to cover outstanding
or anticipated debts and shall terminate I.D. 5 upon determining that
all debts and obligations have been satisfied .
Pursuant to Section 12-61, Hawaii County Code, refunding shall be
determined by Council by ordinance .
Your Committee on Finance concurs with the intent of Bill 129 and
recommends that it pass first reading .
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FRANK DE LUZ III, CHAIRMAN
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ilit -LORRA E R. AKU, VICE CHR. JAJ► L. K. DAHLBERG, MEMB 4'
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TAKASHI DMM.,M +RR 'USSELL S. KOKUBUN, MEMBER
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MERL K. LAI, MEMB 1' SPENCER K. SCHUTTE, MEMBER
• . S
FC REPORT No . 126
ADOPTED: FEB 19 1986