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COUNTY OF HAWAII =4 STATE OF HAWAII <br /> RESOLUTION NO. 487 20 <br /> A RESOLUTION SUPPORTING SENATE BILL NO. 2526, SENATE BILL NO. 2826, OR <br /> OTHER LEGISLATION WITH THE PURPOSE OF PROVIDING ADEQUATE <br /> FORECLOSURE PROTECTION FOR BENEFICIARIES OF THE HAWAIIAN HOMES <br /> COMMISSION ACT OF 1920. <br /> WHEREAS, Section 4 of United States Public Law No. 86-3, An Act to Provide for the <br /> Admission of the State of Hawaii into the Union, includes the condition that the Hawaiian <br /> home-loan fund,the Hawaiian home-operating fund, and the Hawaiian home-development fund <br /> of the Hawaiian Homes Commission Act of 1920 (HHCA) "shall not be reduced or impaired by <br /> any (State) amendment ... except with the consent of the United States"; and <br /> WHEREAS, the Department of Hawaiian Home Lands (DHHL) is the lead state agency <br /> designated to fulfill the compact enumerated in the Admission Act; and <br /> WHEREAS, trust lands as defined under the HHCA are located within each County in <br /> the State; and <br /> WHEREAS, DHHL operates a loan fund and loan servicing program for home loans on <br /> these trust lands, which are required to comply with the HHCA to prohibit non-beneficiaries <br /> such as banks from taking ownership of beneficiary homes in a foreclosure action and instead <br /> should allow for such foreclosures to result in the asset being serviced and held by DHHL; and <br /> WHEREAS, the Legislature can approve legislation requiring that the same level of <br /> protections and procedures mandated in Chapter 667 of Hawaii Revised Statutes, relating to <br /> foreclosures, be made available to HHCA beneficiaries; and <br /> WHEREAS, the only protection and review of a foreclosure action taken by DHHL on <br /> behalf of its direct loan program or on behalf of banks, is through Hawaii Revised Statutes <br /> Chapter 91, the administrative review process followed by State commissions and agencies; and <br />