BIL 216 Draft 02 2018-2020 - Laserfiche WebLink

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,i Seetion 21 39.Sewer eenneetion loam program, � ' notifies owflefs in an fnefement of ement that they eonneet theif pfopefties to the sewef line,the difeetof of fifianee shall1 loans used to eonneet lots whieh afe a paft of that inefement to the sewer- lines. The dir-eete of finanee may eansult with any banks of finaneial institutions about paftieipation i ptifstiant to seetion 21 5. institutions to handle the County guafanteed loan pr-ogr-affl. in designating a bank o finaneial institution, the dir-eeter- shall eensidef the intefest fates offefed on the loans by-the bank, the niambef of months and monthly p ments of the loan, and the willingness of the institution to inakethe same agfeed upon fate offefed an the County guafan4eed lea a-vailable to othefs bofrwAing ffloney to pay fof sewef hookup fees whose loans afe no guafatiteed by the County of llawai'i. Any bank or-finaneial institution whieh eomplies with the tefms of the loan pfogfarfl shall qualify as a designated ba (e) The difeetof of finanee shall fequife that a designated bank agfee th (1) The loan to a guafaineed beffowef will be at a fate of intefest and temis agfeed upon at the ineeption of the pfogf am for-that inefement; (2) The loan will be guafanteed by the County: of Hawai'i up to th- assessed value of pafeel to be eeinieeted and any inipfovements at the time of the loan ; (3) in the event that a guaf anteed beffowef fails to pay the fequifed payment an the within ninety days of the date upon whieh the payment is due, the loan shal eonsidefed in default and the designated bank shall immediately notify the difeetof o finanee ftp, G ,,+r of Hwell as the guafasteed b r,e ; (4) in the event of a default of any guar-anteed befr-owe , a designated bank shall aeeept (5) The loan amount shall be lifflited to hook tip and east f6f the feasonable festor-ation of the pafeel and impfavements to the eondition existing at the tifne of the loan appheation plus loan fees and eosts; and banks and finaneial institutions whieh are designated ba ks, and shall pfevide them wit . . i of the agfeement negotiated with the-designated banks and the eantfaet whieh the designated banks „will emeetite ,;+7, guafanteed _ CllJ1iV VVTLl rJ. Seetion 21 40. Loan appheation. 9 loan,21 5, and who has been fejeeted by any two bapAEs of finaneial ifisti"ions .-f any type - loan to pay fof the sewef eanneetion, based on instiffieient ability to fepay said may apply to a designated bank fi)f a sewer- eanneetion loan whieh is guafanteed by the Cotinty no in fe than one hundfed and twenty ealendaf days aftef the date of the fietifiefftion by-the d;, etof,-e r the owner- to eofmeet to the n ,ei 18