HomeMy WebLinkAboutREP FC 111 2020/03/10 2018-2020 REPORT OF THE
COMMITTEE ON FINANCE
DATE: March 10, 2020 Re: Comm. No. 781/Bill No. 145
PLACE: Council Chambers
Hilo, Hawai`i
TIME: 9:00 a.m.
Council Chair and Members
Hawai`i County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill No. 145,reports as follows:
Bill No. 145,transmitted by Council Chair Aaron S. Y. Chung, via Communication No. 781 dated
February 20, 2020, authorizes the issuance of General Obligation Bonds of the County of Hawai`i for
the purpose of funding all or a portion of the costs of various improvement projects; fixing the form,
denominations, and certain other details of such bonds and providing for their sale to the public; and
authorizes the taking of other actions relating to the issuance and sale of the bonds.
This bill authorizes the issuance of up to $103 million in General Obligation Bonds to fund certain Capital
Improvement Projects, including: Ane Keohokalole Highway Phase III (Hina Lath Street to Kaiminani
Drive); Puna Connectivity and Emergency Access Routes; Paniolo Avenue Rehabilitation/Waikoloa
Intersection Construction; Kawili Street Shoulder Improvements; Mamalahoa Highway Resurfacing
(Hohola Drive to Kekehau Street); Plumeria Street Rehabilitation; and Waianuenue Avenue Resurfacing.
A motion to move Bill 145 to Council with a positive recommendation was made by Council Chair
Chung, seconded by Council Member Kierkiewicz. There was also a motion made by Council Chair
Chung and seconded by Ms. Eoff to amend Bill No. 145 with the contents of Comm. 781.1. The vote
was then taken on the motion to move this measure, as amended, to Council with a positive
recommendation and passed with nine"ayes."
Council Members discussed the intent for necessary infrastructure projects for the island of Hawai`i, and
how Bill No. 145, as amended, will be able to utilize the revenue from the increase in the General Excise
Tax and be potentially leveraged by other funding sources, if available. It was noted by Council Chair
Chung that Bill No. 145 will secure the listed projects to be accomplished. Council Members agreed to
the list and process, and to move forward for the betterment of our island residents. Finance Director
Deanna Sako noted that now is a good time to issue bonds.
Your Committee on Finance is in accord with the purpose and intent of Bill 145, as amended to Draft 2,
and recommends its passage on first reading.
db
AYES NOES ABS EX Respectfully submitted,
CHUNG X
DAVID x COMMITTEE ON FINANCE
EOFF X
KANEALI`I-KLEINFELDER X ,�,�
KIERKIEWICZ X
LEE LOY X
POINDEXTER X MAILE MEDEIROS DAVID, CHAIR
RICHARDS X FC REPORT NO.: 111
VILLEGAS X ADOPTED: MAR 2 5 2020