HomeMy WebLinkAboutBIL 153 Draft 01 2020-2022AN ORDINANCE TO INITIATE AN AMENDMENT TO ARTICLE X OF THE HAWAI‘I COUNTY CHARTER (2020 EDITION), RELATING TO THE COUNTY HOUSING PROGRAM REVOLVING FUND.
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI‘I:
SECTION 1. Article X of the Hawai‘i County Charter (2020 Edition), relating to Financial Procedures, is amended by adding a new section to be appropriately inserted and to read as follows:
“Section 10-__. County Housing Program Revolving Fund.
In adopting each fiscal year’s operating budget, the council shall appropriate a minimum of one percent of the certified real property tax revenues into the County housing program revolving
fund. Additional funds from: grants and private contributions intended for the purpose of this section; voluntary contributions of any amount as specified on the real property tax
bill; proceeds from the sale of general obligation bonds authorized and issued for the purpose of this section; council appropriations for the purpose of this section; and any other
source of revenue, may also be deposited into the County housing program revolving fund. Deposits to the fund shall occur at a minimum, on a quarterly basis.
Monies in this fund shall be used as prescribed by ordinance. The highest and best use of this fund shall be to leverage the money in the fund by attracting matching funds.
Any balance remaining in the fund at the end of any fiscal year shall not lapse, but shall remain in the fund accumulating interest from year to year.”
SECTION 2. New charter material is underscored. When revising, compiling, or printing these charter provisions for inclusion in the Charter of the County of Hawaiʻi, the reviser need
not include the underscoring.
SECTION 3. If any provision of this ordinance, or the application thereof to any person or circumstance, is held invalid, such invalidity shall not affect other provisions or applications
of the ordinance, which can be given effect without the invalid provision or application, and to this end, the provisions of this ordinance are severable.
SECTION 4. Upon adoption of this ordinance, this Council, by appropriate resolution, shall provide that this amendment be submitted to the electorate of Hawai‘i County for approval
in the 2022 general election.
SECTION 5. Upon approval of the charter amendment proposed in this ordinance by a majority of voters voting on this legislation in the 2022 general election, as duly certified, this
ordinance shall take effect at twelve o’clock meridian on December 5, 2022.
INTRODUCED BY:
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COUNCIL MEMBER, COUNTY OF HAWAI‘I
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COUNCIL MEMBER, COUNTY OF HAWAI‘I
_______________, Hawai‘i
Date of Introduction:
Date of 1st Reading:
Date of 2nd Reading:
Date of 3rd Reading:
Effective Date: