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• <br /> Seg1OF N�`• <br /> COUNTY OF HAWAII A STATE IF HAWAII <br /> :°-- <br /> 44,1"441P,-- <br /> BILL <br /> TF C •441BILL NO. 136 <br /> ORDINANCE NO. 22 33 <br /> AN ORDINANCE AUTHORIZING THE ISSUANCE OF SPECIAL TAX REVENUE <br /> BONDS OF THE COUNTY OF HAWAII FOR THE PURPOSE IAF FINANCING THE <br /> COSTS OF CERTAIN PUBLIC IMPROVEMENTS AND INCIDENTAL EXPENSES <br /> RELATING TO THE COUNTY'S COMMUNITY FACILITIES DISTRICT NO. 1-2021 <br /> (KALOKO HEIGHTS PROJECT); AMENDING CERTAIN PROVISIONS OF THE <br /> ORDINANCE OF FORMATION FOR THE I ISTRICT RELATING TO THE LIEN OF <br /> THE SPECIAL TAXES SECURING SUCH 3 ONDS; FIXING OR AUTHORIZING THE <br /> FIXING OF THE FORM, DENOMINATIONS, AND CERTAIN OTHER DETAILS OF <br /> SUCH BONDS AND PROVIDING FOR THE SALE OF SUCH BONDS TO THE <br /> PUBLIC <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. Findings and Determinations. The Council of the County of <br /> Hawai`i (the "Council" and the "County,"respectively) hereby finds and determines as follows: <br /> _ (a) Upon petition by RCFC Kaloko Heights, LLC, a Delaware limited liability <br /> company, Kaloko Heights B 1 A Holdings, LLC, a Delaware limited liability company, <br /> and Kaloko Heights Investors, LLC, a Delaware limited liability company (collectively, <br /> the "Petitioner"), the County has, pursuant to Chapter 32, Hawai`i County Code 1983 <br /> (2016 Edition, as Amended) ("Chapter 32," with all references herein to Articles and <br /> Sections, unless otherwise indicated, being intended to mean and refer to Articles and <br /> Sections within such Chapter) and Ordinance No. 21-67 (the "Ordinance of Formation"), <br /> established a community facilities district, designated as the "County of Hawai`i <br /> Community Facilities District No. 1-2021 (Kaloko Heights Project)" (the "District") for <br /> the purpose of financing the acquisition and construction of certain special improvements <br /> (as more fully described in the Ordinance of Formation, the "Improvements") and has <br /> further authorized the levy of a special tax on properties within the District pursuant to <br /> Chapter 32 (the "Special Tax"). <br /> (b) It is appropriate and in the interest of the County to authorize, and the <br /> Council intends hereby to authorize, the issuance and sale of special tax revenue bonds of <br /> the County (the "Bonds"), in an aggregate principal amount not to exceed $22,000,000 <br /> (excluding Bonds issued to refund other Bonds previously issued), in order to provide <br /> funds (i) for payment of the costs of acquiring and constructing the Improvements (the <br /> "Project Costs"), and (ii) for payment of incidental expenses incurred with respect to the <br />