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NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY <br />OF HAWAII, that the Finance Director is hereby authorized to <br />negotiate a seventy-five (75) year lease with the HICDC for the <br />purpose of planking, developing, and operating affordable rental <br />housing for senior citizens at a set lease rental amount of Ten <br />Dollars ($10.00) per year. <br />BE IT FURTHER RESOLVED that the Mayor of the County of Hawaii <br />or his duly authorized representative is hereby authorized to <br />execute the lease agreement and any other documents required to <br />induce financing entities to provide funding for the project. <br />BE IT FURTHER RESOLVED that a copy of this resolution be <br />transmitted to the Office of the Mayor, the Department of <br />Finance, and the Office of Housing and Community Development. <br />BE IT FURTHER RESOLVED, that this resolution shall take <br />effect immediately. <br />Dated at Kona Hawaii, this 13th day of August , <br />2008. <br />COUNTY COUNCIL <br />County of Hawaii <br />Hilo, Hawaii <br />I hereby certify that the foregoing RESOLUTION was by the <br />vote indicated to the right hereof adopted by the COUNCIL <br />of the County ofHawai'ion August 13. 2008 <br />ATTEST: <br />ROLL CALL VOTE <br /> AYES NOES ~ABS EX <br />FORD }{ <br />HIGA X <br />HOFFMANN }{ <br />IKEDA }{ <br />JACOBSON X <br />NAEOLE X <br />PILAGO X <br />YAGONG X <br />YOSHIMOTO X <br /> 9 0 0 0 <br />~l~"`~"\ Reference C-1354/CHA- 07/22/08 <br />t ~-\ <br />709 08 <br />C LINTY CLERK CHAIRMAI ~ PRESIDIN OFFICER RESOLUTION NO. <br />