HomeMy WebLinkAboutREP FC 461 01/25/1988 1984-1988 D
REPORT OF THE
111
COMMITTEE ON FINANCE
Date: January 25, 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 'Bill 387 , reports
as follows:
The purpose of Bill 387 is to amend Ordinance No. 482, as amended,
relating to General Obligation Bonds by including the public
improvements authorized by Ordinance 86-64, as amended; the Capital
Budget Ordinance for the fiscal year ending June 30, 1987 and the
public improvements authorized by Ordinance 87-59, as amended; the
Capital Budget Ordinance for the fiscal year ending June 30, 1988
for allotments from the proceeds of the bond sale.
During the January 18, 1988 Council meeting, Bill 387 was referred
back to the Finance Committee after inconsistencies were discovered
between the title and the contents of the bill . Section 2 of
Bill 387 proposed to amend Ordinance No. 709, as amended; however ,
the title of the bill only makes reference to amendments to
Ordinance No. 482, as amended.
Your committee amended Bill 387 to correct the inconsistency by
deleting the amendments to Ordinance No. 709, • as amended .
Your committee also did not concur with the proposal to amend
Section 10 of Ordinance No. 482, as amended, to include the public
improvements authorized in the capital budgets of the fiscal years
ending June 30, 1987 and June 30, 1988 for allotment consideration
of the remaining unallotted proceeds of the 80' A bonds, $101, 500 .
Your committee would rather have the public improvements for
allotment considerations identified, thus the amendment to
Section 10 has been replaced by an amendment to Section 8 of
Ordinance No. 482 allowing for project delineation. The following
project (s) have been incorporated:
Mooheau Bandstand $25 ,000
FC REPORT No , 461
ADOPTED : FEB 3 1980
i
FC- 461 Page 2 January 25 , 1988
Your committee was also aware that $76,000 still remains unallotted
and has requested that the Director of Finance submit a list of
recommended projects for consideration of the remaining balances of
both the 80 A and 82 A bonds .
Your Committee on Finance has referred Bill 387, Draft 2, to the
Council for second reading considera 'R.
AWN* 111A041111.
FRANK DE LUZ III, CHAIRMAN
.
•
AEI
*'t
LORRA NE R. 'i' '' HAKU-INOU , V. . A II, . K. DAHLBERG, MEMBER
at-0,-oceA,; )16 l " .TAKASHI DOMIGO, MEMBE ' SSELL S. KOKUBUN, MEMBER
MERLE LAI, MBER NO100' SPENCER K. SCHUTTE, MEMBER
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