BIL 263 Draft 01 2008-2010 - Laserfiche WebLink

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COUNTY OF HAWAII f6k "` -!/ • STATE OF HAWAII BILL NO. 263 ORDINANCE NO. AN ORDINANCE TO INITIATE A CHARTER AMENDMENT TO ARTICLE X OF THE HAWAII COUNTY CHARTER (2000), ESTABLISHING A PUBLIC ACCESS, OPEN SPACE, AND NATURAL RESOURCES PRESERVATION FUND. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: SECTION 1. Purpose. The purpose of this ordinance is to initiate an amendment to the Hawai`i County Charter that would ensure that upon adoption of each fiscal year's budget and capital program, a minimum deposit of two percent of the certified real property tax revenues, including penalties and interest, be placed in a fund known as the public access, open space, and natural resources preservation fund. SECTION 2. Article X, Hawai`i County Charter (2000), is amended by adding a new section to be appropriately designated and to read as follows: "Section 10- . Public Access, Open Space, and Natural Resources Preservation Fund. (a) In adopting each fiscal year's budget and capital program, the council shall appropriate a minimum of two percent of the certified real property tax revenues, including penalties and interest, to a fund known as the public access, open space, and natural resources preservation fund. Deposits to the fund shall occur at least twice a year. (b) Moneys deposited in the fund shall be invested in a conservative interest - bearing account that will allow moneys to be available for property acquisition and prevent any erosion of the fund's principal amount. (c) Funding shall consist of a minimum of two percent of actual real property tax revenue received each fiscal year. Additional revenue to the fund may consist of grants and private contributions, proceeds from the sale of general obligation bonds, council appropriations, and any other source of revenue. (d) The fund shall be used for acquiring lands or property entitlements in the County of Hawai`i for the following purposes: (1) Public outdoor recreation and education, including access to beaches and mountains; (2) Preservation of historic or culturally important land areas and sites;