HomeMy WebLinkAboutREP FC 385 07/27/1987 1984-1988 •
A !II REPORT OF THE
COMMITTEE ON FINANCE
Date: July 27 , 1987 Re: Comm. 1114 .3
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 . 328-87 , reports as follows:
The purpose of Resolution No . 328-87 is a request that the Council
of the County of Hawaii take the necessary steps to conform to the
requirements of the lease purchase agreement for a loop microwave
system for the Hawaii Police Department made with Motorola
Communications and Electronics , Inc.
The terms of the agreement are basically that the annual lease
payment for the equipment is $214 ,764 . 32 for a period of seven
years , including the nominal purchase option of $1 .00 .
The resolution requests the following actions by the Council:
1 . Provide for the annual lease payment of $214 ,764 .32 for
seven years .
2 . Budget sufficient funds in the future fiscal years to cover
the obligation of the County under the lease purchase
agreement .
The Finance Director informed the committee that a down payment of
$200 ,000 has been made and that the first installment will be due in
July 1988 . Motorola will provide the repair and maintenance of the
system during the term of agreement; however , additional funding
will be required for this service . It was requested that
information on the terms of the contractual agreement in regards to
repair and maintenance be provided prior to the Council meeting.
Pursuant to Section 10-11 of the County Charter , the Council may, by
resolution, approve any contract, lease or other obligation
requiring payment of funds from the appropriations of a later fiscal
year or more than one fiscal year .
FC REPORT No , 385
ADOPTED : AUG 5 197
411 111
FC-385 Page 2 July 27 , 1987
Your Committee on Finance concurs with the intent of Resolution
No . 328-87 and recommends its adoption .
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FRANK DE LUZ III , CHAIRMAN
LORR NE ' .moi CHAKU-INO YE , V.C. A L. K. DAHLBERG, MEMBER
th4LA.Ac uw /TAKASHI DOMINGO, MEMBER RUSSELL S. KOKUBUN, MEMBER
MERL K. LAI, MEMBER SP—NC R K. SCHUTTE, MEMBER
LA/KK/