NTC COU PUBLIC HEARING 2013-06-04 2012-2014 RE WID KONA OCEAN VIEW

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All interested persons are invited to attend and shall be afforded the opportunity to be heard. The meeting place is accessible for persons with disabilities. Persons who need special accommodations for this public hearing should call 961-8255 by May 28, 2013. Relay Users please call 711(961-8255) to contact our office. 2. Documents and Information to be Considered The purpose of the Public Hearing is to consider the following documents and information relating to the Improvement District: Scope and Location of Special Improvements. The Special Improvements will consist generally of the construction and installation of underground waterlines and fire hydrants within the Improvement District, including the removal of existing meters and laterals and the installation of new meters. The expected locations of the Special Improvements are identified on the Corrected Map. Estimated Cost of Special Improvements. Based on the Construction Bid and other estimated costs, the total cost of designing, constructing and installing the Special Improvements (including related administrative and financing costs), is estimated by the Hawaii County Manager -Chief Engineer of the Department of Water Supply to be $1,569,369, of which $353,369 is expected to be funded by a grant from the U.S. Department of Agriculture Rural Development, resulting in estimated net project costs of $1,216,000. Description of Assessment Units; Preliminary Assessment Roll. For purposes of the Improvement District, the net project costs of the Special Improvements will be assessed by Hawaii County (the "County") in equal amounts against all assessment units within the Improvement District, which will consist of all duly subdivided parcels of land or condominium units within the Improvement District bearing unique tax map key numbers, except for two excluded lots as indicated below. As identified in the Preliminary Assessment Roll, the Improvement District currently consists of eighty-one (81) assessment units, comprised of TMKs 7-2-008:1-41 (excluding lot 39, which is not part of the Subdivision) and TMKs 7-2-09:1-42 (excluding lot 41, which is the road lot). The tax map key numbers and street addresses of the current assessment units and the names and contact addresses of the current owners are set forth in the Preliminary Assessment Roll. Estimated Assessments. Based on estimated net project costs of $1,216,000 and eighty-one (8 1) assessment units, the assessment for each assessment unit is currently estimated to be $15,012.35. The County intends to issue general obligation bonds to finance all or a portion of the net project costs of the Special Improvements. Assessments collected by the County will be used to pay or reimburse the County for payments of principal and interest on such bonds and/or costs not financed by the bonds. Unless paid in full, assessments will be payable in such annual installments as determined by the Council, and each annual installment may be made payable in up to twelve equal monthly or other periodic installments. 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.