ORD 2018-101 2016-2018 - Laserfiche WebLink

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to all of which documents reference is hereby made for a more particular and detailed description of the Improvement District for the Lono Kona Subdivision, the extent thereof, the Improvements to be made, the respective subdivided parcels of land and condominium units to be assessed (each, an "Assessment Unit") 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. Attached as Exhibit "A" hereto and incorporated herein by this reference is the Final Assessment Roll for the Improvement District, which modifies the assessment roll previously proposed under Resolution 72-15 to reflect the current ownership of the Assessment Units (as shown on the County's real property tax records) and the election by the owner of one Assessment Unit (TMK 7-5-004-036) to subject the Assessment Unit to assessment based on current zoning. Pursuant to Section 12-29, Hawai`i County Code 1983 (2016 Edition, as Amended) and as set forth in the Final Assessment Roll, it is hereby specifically found and established that (a) each and every Assessment Unit in the Improvement District is or will be specially benefited by the Improvements, (b) the method of assessment based upon single family equivalents (SFEs) fairly confers the special benefits of a county dedicated sewer 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, adopted and approved 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 Improvements which are hereby assessed against the benefited Assessment Units. As provided by Chapter 12, Hawai`i County Code 1983 (2016 Edition, as Amended), the amounts of the assessments against the Assessment Units shall be a lien against each of the Assessment Units from the date of first publication of this ordinance. SECTION 3. Net Cost of Authorized Improvements. It is hereby found and declared that the total estimated cost of the authorized Improvements to be supported by the assessments against the Assessment Units, after deduction of other available funds (other than temporary advances of funds) used to fund the Improvements (the "Net Project Cost"), is TWO MILLION FOUR HUNDRED THIRTY-SEVEN THOUSAND AND NO/100 DOLLARS ($2,437,000), which is expected to be paid from a proposed issue of the County's general obligation bonds (the "Bonds") in an amount not to exceed Two Million Four Hundred Thirty-Seven Thousand and No/100 Dollars ($2,437,000) pursuant to Ordinance No. 17-73, as adopted by the Council of the County on November 15, 2017 and approved by the Mayor on November 21, 2017. An amount equal to the Net Project Cost, together with interest and other costs and administrative expenses authorized to be charged against Assessment Units hereunder, is hereby charged, assessed and 2