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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: March 10, 2020 Re: Comm. No. 781/Bill No. 145 <br /> PLACE: Council Chambers <br /> Hilo, Hawai`i <br /> TIME: 9:00 a.m. <br /> Council Chair and Members <br /> Hawai`i County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Bill No. 145,reports as follows: <br /> Bill No. 145,transmitted by Council Chair Aaron S. Y. Chung, via Communication No. 781 dated <br /> February 20, 2020, authorizes the issuance of General Obligation Bonds of the County of Hawai`i for <br /> the purpose of funding all or a portion of the costs of various improvement projects; fixing the form, <br /> denominations, and certain other details of such bonds and providing for their sale to the public; and <br /> authorizes the taking of other actions relating to the issuance and sale of the bonds. <br /> This bill authorizes the issuance of up to $103 million in General Obligation Bonds to fund certain Capital <br /> Improvement Projects, including: Ane Keohokalole Highway Phase III (Hina Lath Street to Kaiminani <br /> Drive); Puna Connectivity and Emergency Access Routes; Paniolo Avenue Rehabilitation/Waikoloa <br /> Intersection Construction; Kawili Street Shoulder Improvements; Mamalahoa Highway Resurfacing <br /> (Hohola Drive to Kekehau Street); Plumeria Street Rehabilitation; and Waianuenue Avenue Resurfacing. <br /> A motion to move Bill 145 to Council with a positive recommendation was made by Council Chair <br /> Chung, seconded by Council Member Kierkiewicz. There was also a motion made by Council Chair <br /> Chung and seconded by Ms. Eoff to amend Bill No. 145 with the contents of Comm. 781.1. The vote <br /> was then taken on the motion to move this measure, as amended, to Council with a positive <br /> recommendation and passed with nine"ayes." <br /> Council Members discussed the intent for necessary infrastructure projects for the island of Hawai`i, and <br /> how Bill No. 145, as amended, will be able to utilize the revenue from the increase in the General Excise <br /> Tax and be potentially leveraged by other funding sources, if available. It was noted by Council Chair <br /> Chung that Bill No. 145 will secure the listed projects to be accomplished. Council Members agreed to <br /> the list and process, and to move forward for the betterment of our island residents. Finance Director <br /> Deanna Sako noted that now is a good time to issue bonds. <br /> Your Committee on Finance is in accord with the purpose and intent of Bill 145, as amended to Draft 2, <br /> and recommends its passage on first reading. <br /> db <br /> AYES NOES ABS EX Respectfully submitted, <br /> CHUNG X <br /> DAVID x COMMITTEE ON FINANCE <br /> EOFF X <br /> KANEALI`I-KLEINFELDER X ,�,� <br /> KIERKIEWICZ X <br /> LEE LOY X <br /> POINDEXTER X MAILE MEDEIROS DAVID, CHAIR <br /> RICHARDS X FC REPORT NO.: 111 <br /> VILLEGAS X ADOPTED: MAR 2 5 2020 <br />