BIL 065 Draft 01 2020-2022 - Laserfiche WebLink

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i (c) The Resolution of Intention further directs the Director of the Department of Environmental Management to study the District and the Improvements and prepare and submit to the Council a report thereon (the "CFD Report") within sixty (60) days after the adoption of 3 the Resolution of Intention as provided in Section 32-21. The CFD Report, dated July 30, 2021, has been prepared and submitted to the Council, as provided in the Resolution of Intention, and has been filed with the records of the meeting of the Council held on August 18, 2021. The 3 Council is relying on the information contained in the CFD Report in making the findings and 3 determinations set forth in this Ordinance. 3 (d) Pursuant to the Petition, the Petitioner: (i) represents that it is the owner of one hundred percent(100%) of the land shown on the Boundary Map which is not to be exempt from the Special Tax, and there are no lessees of such land who, by the express terms of any existing leases, are obligated to pay the Special Tax; and(ii) waives the right to a public hearing on the establishment of the District as provided in Section 32-24. Accordingly, the Council has determined pursuant to the Resolution of Intention that it is unnecessary to conduct a public hearing or give notice of public hearing prior to the adoption of this Ordinance. SECTION 2. Further Findings, Determinations and Orders. In accordance with the applicable provisions of Chapter 32, the Council hereby finds, determines and orders as follows: Ii (a) Formation and Name of the District. The Council hereby finds and determines that the establishment of the District is in the best interest of the people of the County of Hawaii and, accordingly, hereby orders the formation of the District in accordance with Chapter 32 and the further provisions hereof. The District shall be known as "Hawai`i County Community Facilities District No. 1-2021 (Kaloko Heights Project)." (b) Term of the District. The term of the District shall be sixty (60) years, commencing with the fiscal year ending June 30, 2022; provided that the term of the District shall not expire in any event until such time as all debt service on any Bonds and other debt incurred pursuant to Chapter 32 and all Incidental Expenses that are due and payable with respect to the District have been fully paid or payment duly provided for. (c) Boundaries of the District. The boundaries of the District shall be as shown on the Boundary Map, a copy of which is on file in the office of the Director of Finance of the County, and shall include the parcels of land more particularly described in Exhibit D attached hereto. (d) The Improvements to be Financed by the District. The Improvements authorized to be financed by proceeds of the Special Tax and/or the proceeds of sale of Bonds, if issued, shall be the special improvements described in Exhibit A attached hereto and by this reference incorporated herein. As stated in the CFD Report, the costs of the Improvements are currently estimated to be $11,496,724. Funds to pay the costs of the Improvements shall be disbursed in accordance with the Project Funding Agreement(as hereinafter defined). 2