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§ 21-37 HAWAI`I COUNTY CODE <br />Article 5. Sewer Connection Loan Program. <br />Section 21-37. Findings and purpose. <br />Section 21-5, requires connection to the sewer of lots accessible to a sewer. The <br />connection cost may be financially burdensome for many owners. Therefore, the council <br />finds that, in order to assure that all possible lots are connected to the sewer to meet <br />Federal and State requirements, it is in the public interest to create, in cooperation with <br />a bank or other financial institution, a program by which the County of Hawai`i assists <br />owners to connect to the sewer by guaranteeing loans for this purpose. <br />The guaranteed loan program would allow the owner to get a County -guaranteed <br />loan from the bank or other financial institution after it agrees that the County of <br />Hawaii shall place a lien on the property at the time the loan closes. The lien would be <br />for the loan amount and related fees and costs. The County of Hawai`i would guarantee <br />the bank or other financial institution that it will pay the balance of the loan in full <br />should the owner default on the loan. <br />This law shall cover the sewer connections which will be required in the following <br />increments: <br />Waiakea Houselots <br />110 lots <br />Waiakea Mill Pond <br />100 lots <br />Ainako "A" <br />114 lots <br />Kalaniana`ole Laterals <br />125 lots <br />Ainako "B" <br />93 lots <br />(Optional Hookups) <br />100 lots <br />Alii Drive "A" — "F" <br />200 lots <br />Honoka`a <br />106 lots <br />(1992, ord 92-136, sec 1; am 2008, ord 08-117, sec 1; am 2012, ord 12-10, sec 2.) <br />Section 21-38. Definitions. <br />For purposes of this article, the following words and phrases, unless the context <br />otherwise requires, shall be defined as indicated: <br />"Default" means the failure of a guaranteed borrower to make a required payment <br />to a designated bank within ninety days of the date upon which the payment is due as <br />stated in the contract between a designated bank and a guaranteed borrower. <br />"Designated bank" means any bank or financial institution approved by the director <br />of finance pursuant to this article to provide loans to owners who are required to <br />connect property to sewers by section 21-5. <br />"Guaranteed borrower" means an owner who has executed the appropriate <br />agreements with the County of Hawai`i required by this article and whose loan with a <br />designated bank is guaranteed by the County of Hawai`i in accordance with this article. <br />21-18 <br />