BIL 092 Draft 01 2012-2014 - Laserfiche WebLink

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the Improvement District for the Kona Ocean View Properties Subdivision, the extent thereof, the Improvements to be made, the respective parcels of land and subdivided condominium units to be assessed and the special benefits accruing or to accrue therefrom, and all of which by this reference are hereby incorporated herein and made a part hereof. In the event any of the foregoing documents contain provisions inconsistent with the provisions of any other of the foregoing documents, the provisions of the document last adopted shall control. SECTION 2. Confirming Assessment. Pursuant to Section 12-29, Hawai`i County Code 1983 (2005 Edition, as Amended) and as set forth in the Final Assessment Roll attached hereto as Exhibit "A" and incorporated by reference herein, it is hereby specifically found and established that (a) each and every parcel of land and condominium unit made subject to the assessment in the Improvement District (each, an "Assessment Unit") is or will be specially benefited by the Improvements, (b) the method of assessment based upon equal, pro rata division of the cost of the Improvements fairly confers the special benefits of a county dedicated water delivery system and the enhanced fire protection afforded by such a system among the owners of Assessment Units within the Improvement District; (c) each and every Assessment Unit is or will be so benefited to the amount of the assessment proposed therefore in the Final Assessment Roll, and in fair proportion to the assessments on each and every other Assessment Unit subject to assessment in the Improvement District, and (d) the assessment as contained therein is hereby declared just and equitable. The proposed assessment as contained in the Final Assessment Roll is accordingly confirmed and adopted as and for the assessment against the Assessment Units in the Improvement District. The amounts set forth in the Final Assessment Roll are hereby fixed as the portions of the cost of the hmprovements which are hereby assessed against the benefited Assessment Units. As provided by Chapter 12, Hawai`i County Code 1983 (2005 Edition, as Amended), as amended, the amounts of the assessments against the Assessment Unit shall be a lien against each of the Assessment Units from the date of first publication of this ordinance. SECTION 3. Cost of Authorized Improvements. It is hereby found and declared that the total estimated cost of the authorized Improvements in the Improvement District is the sum of ONE MILLION FIVE HUNDRED SIXTY-NINE THOUSAND THREE HUNDRED SIXTY NINE AND NO/100 DOLLARS ($1,569,369.00), which sum shall be paid from: (a) a grant from the United States Department of Agriculture Rural Development ("USDA/RD") in an amount not to exceed THREE HUNDRED FIFTY-THREE THOUSAND THREE HUNDRED SIXTY- NINE AND NO/100 DOLLARS ($353,369.00) (the "USDA Grant"); (b) a proposed issue of the County's general obligation bonds (the "Improvement District Bonds") in an amount not to exceed ONE MILLION ONE HUNDRED SIXTY-NINE THOUSAND AND NO/100 DOLLARS ($1,169,000.00), to be authorized by separate ordinance for issuance and sale to USDA/RD; and (c) funds advanced by the Department of Water Supply in the amount of FORTY-SEVEN THOUSAND AND NO/100 DOLLARS ($47,000.00). The total cost of the Improvements, less the amount of the USDA Grant, is hereby charged, assessed and levied against, and shall be collected from the Assessment Units in the Improvement District privately owned and not specifically exempted by this ordinance, and the owners thereof, respectively. 2