HomeMy WebLinkAboutREP FC 473 02/22/1988 1984-1988 - I
OFFICE INFORMATION ONLY
Meeting: March 2 , 1988
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Action: Receive and file FC Rept. 473
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Re: FC Rept. 473
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REPORT OF THE
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COMMITTEE ON FINANCE
Date: February 22, 1988
Place: Councilroom
Time: 10:00 a.m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Communication
No. 1493 reports as follows:
Communication No. 1493 is from Bond Counsel Dennis Lombardi,
pursuant to the request of your committee to revive Bill 472,
Draft 2, by restoring those powers historically vested in the
Director of Finance in connection with the issuance of bonds .
Your committee is aware that an added intent of the proposed Draft 3
is that the bond float is based on the adoption of a fuel tax
measure and that said tax will go exclusively toward the servicing
of said bond.
Your committee is further aware of a communication from
Daryl F. Kayl (C-1481 ) , expressing his concern regarding the
purchase of general obligation bonds .
Bill 472, Draft 2, is currently deferred on the Council level .
Your Committee on Finance recommends that all matters relating to
the bond issue be referred to the Council without a recommendation.
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FRANK DE LUZ III, CHAIRMAN
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•RRANE R. CHAKU-INOdYE, .C. . K. DAHLBERG, MEMBER
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TAKASHI D•MIN'O, M MBER i'' SELL S. KOKUB N, MEMBER
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ME' K. LAI, MEMB PENCER K. SCHUTTE, MEMBER
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FC REPORT N0. 473
ADOPTED :