Chapter 35 Business Improvement Districts

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§ 35-56 HAWAII COUNTY CODE (4) Any insurance premium or fee payable to the issuer of a bond insurance policy or letter of credit insuring all or part of the principal and/or interest due on the refunding bonds; and (5) Any other incidental expenses related to the issuance or carrying of the refunding bonds or the redemption or refunding of the bonds to be refunded. (d) The saving achieved through the issuance of refunding bonds shall be used by the council to reduce the assessment levied in the district. At the time the council authorizes the issuance of refunding bonds, the council also shall reduce the assessments levied in the district. The reduction shall be made through an ordinance of consideration pursuant to article 4. (2004, ord 04-94, sec 1.) Section 35-57. Prohibition on issuance of general obligation bonds secured by general credit. No general obligation bonds secured by the County's general credit shall be issued to finance the costs of improvements identified in an ordinance establishing a district or pay for the incidental expenses of a district. (2004, ord 04-94, sec 1.) Section 35-58. Debt limit calculation. Bonds issued under this article, when the only security is the assessments levy or lien in a district, shall be excluded from any determination of the power of the County to issue general obligation bonds or funded debt for purposes of section 13 of article VII of the State constitution. (2004, ord 04-94, sec 1.) Article 8. Publication Dispensing Devices. Section 35-59. Applicability. The provisions of this article shall apply to publication dispensing devices, publication dispensing rack enclosures and publication dispensing rack spaces located upon sidewalks and other public property within a business improvement district for which the district association has been issued a permit pursuant to chapter 22 of this Code. (2012, ord 12-59, sec 5.) Section 35-60. Definitions. As used in this article, unless another meaning is clear from the context, the following terms shall have the following meaning: "Authorized association" means a district association, as defined in section 35-1, that has been issued a district-wide permit pursuant to chapter 22, article 3, division 3 of this Code for the installation of publication dispensing racks. 35-24