NTC COU PUBLIC HEARING 2014-11-18 2012-2014 RE SID LONO KONA

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Financing Through Bonds. 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 payrfients of principal and interest on such bonds,and/or costs not financed by the bonds. Lhc ayrh@rrf Options. Unless paid in full, assessments will be payable in quarterly 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. Date, Time and Place of Public Hearing A Public Hearing will be held before the Hawai'i County Council on Tuesday, ;November 18, 2014 , at 6:00 p.m. in the Council - Chambers at the West Hawaii'! Civic Center, Building A, 74 -5044 Ane Keohokalole Highway, Kailua -Kona, Hawaii;