The executive director of the Honolulu Ethics Commission confirmed in an email that Kirk Caldwell would not have a conflict of interest between serving on the board of directors of Territorial Savings and his duties as mayor if he were to become mayor. This is because Territorial Savings does not hold city funds and has no business dealings with the city. However, the opinion is based on the presented facts, and if the facts change, the opinion may no longer be valid. The opinion can also be reviewed by the commission if requested in writing within 15 days.

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Lex R. Smith
From: Totto, Charles W. <ctotto@honolulu.gov>
Sent: Wednesday, June 20, 2012 1:55 PM
To: Lex R. Smith
Cc: Williams, Allison
Subject: EC No. 12-205
Hi Lex,
This confirms that on August 17, 2010 (EC No. 10-272), I advised you orally that Kirk Caldwell would not
have a conflict of interest between his sitting on the Board for Directors of Territorial Savings and his city
duties should he become Mayor. As you noted in our conversation this morning, Territorial Savings does not
hold city funds and has no business dealings with the city. So no conflict of interest would arise.
This staff opinion is based on the facts and circumstances presented to us. If the material facts are
not as stated or change, the opinion may no longer be valid and you should contact the Commission.
In addition, the opinion is based on staff’s understanding of the ethics laws and prior Commission
opinions. If you disagree with the staff opinion, you may request a review by the Commission itself. If
a review is requested, submit the request in writing stating the reasons why you believe the staff
opinion is in error. The request should be made within 15 days of the opinion.
Best regards,
Chuck
CHARLES W. TOTTO
Executive Director and Legal Counsel
Honolulu Ethics Commission
715 South King Street, Suite 211, Honolulu, HI 96813-3091
Office (808) 768-7786 / Fax (808) 550-6852
Email: ctotto@honolulu.gov
Website: www.honolulu.gov/ethics
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THANK YOU.