Chapter 12 Improvements by Assessments

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§ 12-34H AWAI‘I C OUNTY C ODE other periodic installments; provided that principal, interest or both on any bonds outstanding due prior to collection of annual assessment shall be paid in accordance with section 12-49, and except as provided in sections 12-44, 12-45, and 12-46 regarding temporary advances, shall not be paid out of any moneys available in the County treasury. Interest in all cases shall be paid on the unpaid principal, at such rate or rates as may be determined by the council. (b) The date on which such annual installments shall commence, the number of such annual installments, the respective amounts of the annual installments, the period of payment, and the rate of interest shall be as determined by the council. Interest for each year may be computed and collected up to the next succeeding date for payment of principal and interest on the bonds issued pursuant to sections 12-44, 12-45, and 12-46, no deduction being made by reason of any installment being due and payable prior to such date; provided, that after the annual installments are determined and fixed if it appears to be of advantage to the assessee, the council may permit the director of finance to accept payments in monthly installments as hereinabove provided. (1983 CC, c 12, art 3, sec 12-34; am 1984, ord 84-17, sec 1; am 2002, ord 02-82, sec 17; am 2011, ord 11-65, sec 2.)12-34 Section 12-35. Advance payment of assessment installment. The owner of any assessment unit subject to unpaid assessment installments which are not delinquent may, at any time after the thirty day period specified in section 12-33, pay the entire unpaid principal provided the total of the following sums are also paid therewith: (1) An amount to be fixed by the director of finance for publishing notice calling bonds; (2) Interest on the unpaid principal to the interest due date on the bonds next succeeding forty-five days after the date of advance payment, plus interest for an additional six months on any portion of the unpaid principal which is not evenly divisible by $1,000; and (3) The premium required to be paid on advance payment of installments, if any, as specified in the resolution adopted by the council pursuant to section 12-10. The premium shall not exceed five percent of the unpaid amount. (1983 CC, c 12, art 3, sec 12-35; am 2002, ord 02-82, sec 17.)12-35 Section 12-36. Installment collection expense. The director of finance may add to each annual installment on assessments an amount not less than one-half of one percent of the amount of the installment, both principal and interest, to cover the expenses of collection; provided that the council may increase such percentage to the extent the council determines from data presented by the director of finance that an increased percentage is necessary to cover the collection expenses. Such percentage when collected shall belong to the County. (1983 CC, c 12, art 3, sec 12-36.)12-36 12-26