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<br /> COUI®TTY O~ II~Wt~I`I STATE OF ~I~?.~~I`I <br /> ~ILI, l®TO. 12 ~ <br /> OI~DIl®TAl®1CE 1®TO. <br /> AN ORDINANCE AMENDING CHAPTER 12, ARTICLE 5 OF THE HAWAII COUNTY <br /> CODE (1995 EDITION) RELATING TO REFUNDING OF THE OUTSTANDING <br /> INDEBTEDNESS OF IMPROVEMENT DISTRICTS. <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI` I: <br /> SECTION 1. Purpose. The purpose of this measure is to delete the requirement of <br /> "not more than one reading" for the Council to promulgate a refunding ordinance. The <br /> amendment would bring the Hawai `i County Code into compliance with Section 3-10(a) of <br /> the Hawai `i County Charter which provides that ordinances shall be passed only after two <br /> readings on separate days. <br /> SECTION 2. Chapter 12, Article 5, Section 12-61 of the Hawai `i County Code (1995 <br /> Edition) is hereby amended to read as follows: <br /> "Section 12-61. Deterrnination by council. <br /> (a) After the hearing, the council shall consider any protests or suggestions which <br /> may have been made or filed and whether sufficient valid protests have been <br /> filed to compel it to abandon the proposed refunding plan. If the council has <br /> jurisdiction to continue, it shall then proceed to determine whether or not the <br /> refunding plan shall be adopted as proposed, or adopted with modifications. In <br /> the latter event the clerk shall be directed to give notice again of the hearing as <br /> provided in section 12-59. <br /> (b) If after such initial and further advertisement and hearing the council determines <br /> to proceed with the refunding measure, it shall, by ordinance [requiring not more <br /> than one reading for its adoption], promulgate the refunding measure. Should the <br /> refunding project provide for the issuance of new bonds in the improvement <br /> district, the ordinance shall provide for the form of new bonds to be issued, <br /> approve of the assessment roll, and incorporate the assessment roll by reference. <br /> The assessment roll, as provided in section 12-26 shall contain only the names of <br /> the property owners who have not fully paid the assessments originally provided <br /> for the payment of the outstanding improvement bonds and shall provide for the <br /> levying of new assessments in amounts sufficient to retire the refunding bonds to <br /> be issued pursuant to the terms hereof. <br /> (c) After the final enactment of the ordinance, the amounts of the several <br /> assessments listed, advertised or incorporated, not previously objected to, shall <br /> conclusively be presumed to be just and equitable and not in excess of the <br /> <br />