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with a bank or other financial institution, a program by which the County of Hawaii <br />assists owners to connect to the sewer by guaranteeing loans for this purpose. <br />The guaranteed loan program would allow the owner to get aCounty-guaranteed <br />loan from the bank or other financial institution afrer it agrees that the County of Hawaii <br />shall place a lien on the property at the time the loan closes. The lien would be for the <br />hookup cost, interest, loan fees and loan costs. The County of Hawaii would guarantee <br />the bank or other financial institution that it will pay the balance of the loan in full should <br />the owner default on the loan. If the owner cannot qualify for a loan, the County of <br />Hawaii will pay a contractor for the hookup, and charge the same interest rate as the <br />bank or financial institution that handles the County-guaranteed loan program. <br />This law shall cover the sewer connections which will be required in the <br />following increments: <br />[aOLeiekea]Waiakea Houselots 110 lots <br />[Weiakee]Waiakea Mill Pond 100 lots <br />Ainako "A" 114 lots <br />[Kelaaianaele]Kalaniana`ole Laterals 125 lots <br />Ainako "B" 93 lots <br />(Optional Hookups) 100 lots <br />[A-4ii]Ali`i Drive "A" - "F" 200 lots <br />Honoka`a 100 lots" <br />SECTION 2. Material to be repealed is bracketed. New material is underscored. In <br />printing this ordinance, the brackets, bracketed material, and underscoring need not be included. <br />SECTION 3. If any provision of this ordinance, or the application thereof to any person <br />or circumstance, is held invalid, such invalidity shall not affect other provisions or applications <br />of this ordinance which can be given effect without the invalid provision or application, and to <br />this end, the provisions of this ordinance are declazed to be severable. <br />SECTION 4. This ordinance shall take effect upon its approval. <br />COUNCIL MEMBER, <br />Kona, , Hawaii <br />Date of Introduction: <br />Date of 151 Reading: <br />Date of 2"d Reading: <br />Effective Date: <br />August 13, 2008 <br />August 13, 2008 <br />August 27, 2008 <br />September 10, 2008 <br />REfERENGE~ Comm: 133_ 1 <br />2 <br />INTRODUCED BY: <br />