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(D) Preservation of forests, beaches, coastal areas, natural beauty and <br />agricultural lands; and <br />(E) Protection of watershed lands to preserve water quality and water supply. <br />(2) Pay the principal, interest and premium, if any, due with respect to bonds issued <br />in whole for the purpose of this fund. <br />(d) Any balance remaining in the fund at the end of any fiscal year shall not lapse, but shall <br />remain in the fund accumulating interest from year to year. The moneys in this fund shall <br />not be used for any purpose except those listed in this section. <br />(e) The council shall by ordinance establish procedures for the administration and <br />expenditure of moneys in this fund. <br />f� This fund shall be used for acquisition of land and easements and shall not be used for <br />development, maintenance or for any purpose other than as provided in this section. <br />(g) The highest and best use of this fund is to leverage the money in the fund by attracting <br />matching funds, although, matching funds are not required in every purchase. <br />au Any land acquired with this fund shall contain the following restrictive covenant in its <br />recorded deed of conveyance: "This land was acquired with moneys from the Public <br />Access, Open Space, and Natural Resources Preservation Fund. It shall be held in <br />perpetuity for the use and enjoyment of the people of Hawai`i County and may not be <br />sold, mortgaged, traded or transferred in any way." <br />Any easement acquired with this fund shall contain the following restrictive covenant in <br />its recorded deed of conveyance: "This easement was acquired with moneys from the <br />Public Access, Open Space, and Natural Resources Preservation Fund. It shall be held in <br />perpetuity for the use and enjoyment of the people of Hawai`i County and may not be <br />sold, mortgaged, traded or transferred in any way." <br />SECTION 2. Charter material to be repealed is bracketed and stricken. New charter <br />material is underscored. When revising, compiling, or printing these charter provisions for <br />inclusion in the Charter of the County of Hawai`i, the reviser need not include the brackets, <br />bracketed material, or underscoring. <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 of <br />the ordinance, which can be given effect without the invalid provision or application, and to this <br />end, the provisions of this ordinance are severable. <br />SECTION 4. Upon adoption of this ordinance, this council, by appropriate, resolution, <br />shall provide that this amendment be submitted to the electorate of Hawaii County for approval <br />in the 2012 general election. <br />2 <br />