BIL 055 Draft 02 2006-2008 - Laserfiche WebLink

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a +tr os w iV J~ COUNTY OF HAWAII STATE OF HAWAII BILL NO. 55 ORDINANCE NO. ~ DRAFT 2 ) AN ORDINANCE PROVIDING FOR THE ESTABLISHMENT OF THE KAILUA VILLAGE BUSINESS IMPROVEMENT DISTRICT NO. 1. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI`L SECTION 1. Purpose. The purpose of this ordinance is to provide for the making and financing of a Business Improvement District at Kailua Village, in the district of Kailua-Kona, Hawaii, to provide for and finance supplemental services and improvements in Kailua Village as authorized by chapter 35, Hawaii County Code 1983 (2005 Edition, as amended) (hereinafter "Hawai`i County Code.") SECTION 2. Establishment of District No. I . In accordance with the provisions of chapter 35, Hawaii County Code, the Council finds as follows: (1) A Business Improvement District is hereby established pursuant to the provisions of chapter 35, Hawaii County Code and in accordance with the "Kailua Village Business Improvement District Plan" ("District Plan") attached as Exhibit "A" to this Ordinance and incorporated as part of this Ordinance; (2) The name of the district shall be "The County of Hawaii Kailua Village Business Improvement District No. P' (hereinafter referred to as the "District"); (3) The District Plan shall be administered by the District Association established for the District as defined by Section 35-18, Hawaii County Code; (4) The initial term of the proposed district is for five years, which is automatically renewed unless an ordinance of termination is adopted in which case operations of the District shall cease although the term shall not expire until all debt service on bonds and incidental expenses and supplemental services expenses related thereto are fully paid or an irrevocable provision for such payment has been made;