HomeMy WebLinkAboutREP FC 471 02/22/1988 1984-1988 OFFICE INFORMATION ONLY
Meeting: March 2, 1988
Action: Receive and file FC Rept. 471
Re: FC Rept. 471
• REPORT OF THE
•
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 Resolution
No. 398-88, reports as follows:
The purpose of Resolution No. 398-88 is to consider a 2 percent
reduction in the County 's annual operating budget before increasing
fuel taxes .
Your Committee on Finance is aware that a fuel tax increase of
1 cent per liter is being considered by the Council and that this
added revenue of about $1 . 5 million will be used to service a
$10 million general obligation bond issue .
Your committee has been informed that other funding sources should
be looked into. For instance, the savings realized from a budgetary
reduction can beused to service the bonded debt .
Your Committee on Finance recommends that Resolution No. 398-88 be
referred to the Council without a recommendation.
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FRANK DE LUZ III, CHAIRMAN
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•RRA NE R. 1 'HAKU-IN YE, .C. . K. DAHLBERG, MEMBER 46
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TAKASHI '•MINGO, MEMBER R SSELL S. KOKUBU , MEMBER
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ME' > K. LAI, MEMB SPENCER K. SCHUTTE, MEMBER
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FC REPORT No , 471
ADOPTED :