RES 099 Draft 01 2010-2012 - Laserfiche WebLink

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• Thirty -five Type "C" service laterals; • One pressure reducing valve station; and • Miscellaneous valves and fittings. The total estimated cost of the Improvement District is $1,569,369.00. Assuming the project costs to be the Manager's estimate thereof, or $1,569,369.00, and further assuming a U.S.D.A. Rural Utilities Service Grant in the amount of $353,369.00 to be applied against the project costs, the net project costs would be $1,216,000.00. Each assessment unit existing as of the date that assessments begin to accrue on assessment units within the Improvement District (the "Commencement Date ") shall be subject to an assessment calculated by dividing the Net Project Costs by the number of assessment units within the Improvement District as of the Commencement Date. Assuming net project costs of $1,216,000.00, the anticipated assessment per assessment unit will be $15,012.35. The County of Hawai`i shall adopt a general obligation bond and administer the collection of funds from assessed owners to service the debt. Unless paid in full, assessments will be payable in monthly installments sufficient to meet the principal and interest requirements for the County's general obligation bonds issued for the Improvement District until they mature. A property owner's assessment may be paid to the Director of Finance in full, without additional charges, at any time within 30 days after the date of the last publication of the ordinance to set the Improvement District assessments. After this 30 -day period, property owners will also be permitted to prepay the unpaid balance of their assessments in full, plus a 3% premium on the amount to be prepaid (unless waived) and interest at the rate on the bonds until they can be redeemed with the assessment prepayment. 2. Testimony, Protests and Objections At the Public Hearing to be held on June 14, 2011, the testimony of all interested persons and owners of assessment units for or against the establishment of the Improvement District, the extent of the Improvement District, and levy of the special assessment shall be heard. This Public Notice hereby advises all interested parties that, in accordance with 12- 10(e), Hawaii County Code, a protest against making all or part of the proposed improvements or against the methods by which such assessments are to be made, or the inclusion of certain costs therein must be submitted in writing to be considered by the Council. Such written protests or objections may be mailed to: County Clerk, County of Hawai`i, 25 Aupuni Street, Hilo, Hawai`i 96720 prior to the Public Hearing, or such written protest may be submitted in person at the date and time of the Public Hearing. The County Clerk will not accept any mailed protests that are postmarked after June 14, 2011 or protests submitted in person after adjournment of the Public Hearing. Unless 50% or more of the owners of assessment units file written protests at or before the Public Hearing against making all or part of the assessments, or part of the proposed improvements, or against the methods by which such assessments are to be made, or the inclusion of certain costs therein, the County Council may proceed to establish the Improvement District and levy assessments by ordinance. x � BiT yA