Chapter 12 Improvements by Assessments

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§ 12-28H AWAI‘I C OUNTY C ODE (B) If the amended preliminary assessment roll shows a proposed amount of assessment for each of the assessment units to be assessed which is the same or less than the preliminary assessment roll, the public hearing shall be held as scheduled and the amended preliminary assessment roll shall be considered at said public hearing. (1983 CC, c 12, art 2, sec 12-28; am 1990, ord 90-127, sec 8; am 1995, ord 95-22, sec 10; am 2001, ord 01-108, sec 1; am 2002, ord 02-82, sec 14; am 2011, ord 11-66, sec 11; am 2013, ord 13-125, sec 5.)12-28 Section 12-28.1. Termination of improvement districts. The council by ordinance shall provide for the procedures to terminate an improvement district created under this chapter once the improvements have been completed and the obligations of the improvement district have been satisfied. (a) The ordinance directing termination of an improvement district shall contain the provisions enumerated below: (1) The director of finance shall be directed to set aside sufficient funds to cover all outstanding or anticipated debts or obligations of the improvement district, including cost and expenses of making any distributions to assessment unit owners and the cash refund obligations in section 12-28.1(a)(3) below. (2) Any outstanding assessment installments which are not needed to pay the debts or obligations described in section 12-28.1(a)(1) above, shall be canceled. (3) If assessment installments are canceled, those owners whose assessment units have prepaid assessments will be entitled to cash refunds equal to the assessment principal which would be prepaid as of cancellation. For these purposes, “prepaid assessments” shall include all payments made upon the assessments for an assessment unit, whether such payments were made before or after the assessment liens were created. (4) The council may provide that from any funds remaining in the improvement district after the payments described in section 12-28.1(a)(1) or (3) that the director of finance be authorized to make cash refunds to assessment unit owners from remaining improvement district funds in such amounts and at such times as the director of finance finds are reasonable. Any cash refund will be made to the owner of record at the time that the director of finance authorizes such refund. (5) The effective date of termination shall be at such time that the director of finance has determined that all outstanding or anticipated debts or obligations of the improvement district have been paid or can be satisfied and that the cash refunds provisions described above have been made. (b) The ordinance directing termination of the improvement district shall not be enacted prior to the redemption date fixed in the call for redemption of all outstanding improvement district bonds at which time the director of finance or paying agent of the County, as the case may be, shall have sufficient funds on hand to pay all outstanding bond principal, interest and any premiums thereon. (1990, ord 90-127, sec 9; am 2002, ord 02-82, sec 14.)12-28.1 12-22