RES 335 Draft 01 2008-2010 - Laserfiche WebLink

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; and (C) Protection of natural resources, significant habitat or eco- systems, including buffer zones; (D) Preservation of forests, beaches, coastal areas, natural beauty and agricultural lands and (El Protection of watershed lands to preserve water quality and water supply, (2) Pay the principal interest, and premium if any, due with respect to bonds issued in whole for the purpose of this fund. all Any balance remaining in the fund at the end of any fiscal year shall not lapse, but shall remain in the fund accumulating interest from year to year. The moneys in this find shall not be used for any purpose except those listed in this section. fel The council shall by ordinance establish procedures for the administration and expenditure of money in this fund. (f) This fund shall be used for acquisition only and not for development or maintenance. l.f� Real property purchased with any money from this fund shall have the following covenant recorded on the Deed: "This property was purchased with moneys from the Public Access, Open Space and Natural Resources Preservation Fund. It shall be held in perpetuity for the use and enjoyment of the people of Hawai`i County. This land may not be sold, mortgaged, traded or transferred in any way. " WHEREAS, material proposed for addition is underscored; and WHEREAS, the provision providing for the effective date of Charter Commission Proposal CA -15 shall be retained, to read as follows: "Section 4. This amendment shall take effect on July 1, 2011." ; and WHEREAS, the council proposes the alternative amendment for the following reasons: 1. A one percent (1 %) Hawai`i County Charter land fund does not reflect the will of the voters that supported a minimum deposit of two percent (2 %) into a Public Access, Open Space, and Natural Resources Preservation Fund in the General Election held on November 7, 2006; and 2. Approximately 90% of the island wide written testimony submitted to the Charter Commission during the discussion of the land fund supported keeping the two percent (2 %) level as voted by 57% of the voters in the 2006 General Election. 3. Requiring Hawai`i County to make deposits four times per year is too arduous.