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f ' <br /> (b) Any interest earned by the fund and any advanced costs that are recovered from housing <br /> project funds shall be returned to the revolving fund. <br /> (c) Whenever used in this section, unless the context otherwise requires; <br /> "Lower-income household"means households with incomes from 50%to 80% of the area <br /> median income. <br /> "Moderate-income household"means households with incomes from 80%to 120% of the <br /> area median income. <br /> "Very low-income household"means households with incomes from 0%to 50% of the <br /> area median income." <br /> SECTION 2. Material to be repealed is bracketed and stricken. New material is <br /> underscored. In printing this ordinance, the brackets, bracketed and stricken material, and <br /> underscoring need not be included. <br /> SECTION 3. Severability. If any provision of this ordinance or the application thereof to <br /> any person or circumstance, is held invalid,the invalidity does not affect other provisions or <br /> applications of the ordinance which can be given effect without the invalid provision or <br /> application, and to this end the provisions of this ordinance are severable. <br /> SECTION 4. This ordinance shall take effect upon its approval. <br /> INTRODUCED BY: <br /> COUNCIL MEMBER, COUNTY OF HAWAI`I <br /> INTRODUCED BY: <br /> .11.AALAA-11. evt0 <br /> C UNCIL MEM , R, COUNTY OF HAWAII <br /> Hilo , Hawai`i <br /> Date of Introduction: May 4, 2022 <br /> Date of 1st Reading: May 4, 2022 <br /> Date.of 2nd Reading: May 18, 2022 <br /> Effective Date: July 6, 2022 <br /> REFERENCE Comm. 721.18 <br /> 2 <br />