COM 0183.000 2006-2008 - Laserfiche WebLink

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ii) The District Boazd shall make such financial records available to the general public during regulaz business hours upon reasonable notice to the District Boazd. 6. Sources of Fundine. (a) Generally. The proposed sources of funding for all (i) supplemental services, (ii) district improvements and (iii) incidental expenses of the County of Hawaii Business Improvement District No. 1 contemplated in this Plan, shall be the sources of funding described in this section. Subject to requirements of law, the Board may apply all monies derived from any sources of funding permitted herein toward funding any expenditure permitted under this Plan. (b) Assessments. (i) Except when funds are otherwise available and except to the extent exempted by law of this Plan, a special assessment sufficient to pay for the costs of the supplemental services and incidental expenses will be annually levied against each pazcel of land in the District. Such assessments shall be called the "Assessments." (ii) The Assessment for each pazcel of land in the District for the first calendar year shall be based on the following rates and method of apportionment: 1) For each parcel of land within County of Hawaii Kailua Village Business Improvement District No. 1 Zone 1, at the rate of $1.75 for every $1,000 of "Assessed Value" of each such parcel of land, as indicated on the County's real property tax assessment list prepazed for the tax yeaz corresponding with the applicable calendar year. "Assessed Value" means the gross value of a parcel of land assessed by the real property tax office of Hawaii County, including the assessed value of any improvements on that parcel of land. The rate of assessment applicable to each parcel of land in County of Hawaii Kailua Village Business Improvement District No. 1 Zone 1 shall be called "Zone 1 Rate." 2) For each pazcel of land within County of Hawaii Kailua Village Business Improvement District No. 1 Zone 2, at the rate of thirty- three and one-third percent (33-1/3%) of Zone 1 Rate. 3) For each pazcel of land within County of Hawaii Kailua Village Business Improvement District No. 1 Zones 1 and 2 that contain a single family residence or condominium apartment with a homeowner's exemption on file with the Hawaii County real property tax office, at the flat annual rate of $100. Exhibit "A" (Page 6 of 9)