HomeMy WebLinkAboutREP FC 453 01/11/1988 1984-1988 411 REPORT OF THE
111
COMMITTEE ON FINANCE
Date: January 11, 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 388, reports
as follows:
The purpose of Bill 388 is to amend Ordinance 709, 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.
Bill 388 was passed on first reading by the Council on July 22, 1987
and referred back to the Finance Committee for further review.
Your committee, in its prior Report No. 382, was aware that part of
the original intent of Bill 388 was to fund the Hilo Ocean Outfall
Extension project . Subsequent to your committee meeting of July 6 ,
1987 , a decision was made to build a new sewerage treatment plant .
Hence, funding for the Hilo Ocean Outfall Extension project is no
longer applicable. Projects incorporated in Ordinances 86-64, as
amended, and 87-59, as amended, will qualify for allotments from the
remaining bond proceeds .
Upon further consideration, your committee has no specific
recommendations but has indicated that amendments might be made at
the meeting of the full Council .
Your Committee on Finance is in accord w' h the intent and purpose
of Bill 388 and recommend that it p second and final reading.
11404/140
FRANK DE LUZ III, HAIRMAN
LORRA ..E R JI HAKU-INO E, .C. AME. L. K. DAHLBERG MEMBER
ZA744.4?' A / •
TAKASHI DOM NGO . MEMBE- `USSELL S. KOKU N, MEMBER
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(ABSENT & EXCUSED)
ME' E K. LAI, Mi: 'r" SPENCER K. SCHUTTE, MEMBER
LA/KK
FC REPORT NO , 453
ADOPTED :
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