HomeMy WebLinkAboutBIL 048 Draft 01 1992-1994 •
COUNTY OF HAWAII STATE OF HAWAII
BILL NO. 48
ORDINANCE NO.
AN ORDINANCE AMENDING CHAPTER 2 , ARTICLE 13 , SECTION 2-75 , HAWAII
COUNTY CODE 1983 , RELATING TO THE USE OF THE HOUSING REVOLVING
FUND.
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. Chapter 2 , Article 13 , Section 2-75 , Hawaii
County Code 1983 is amended to read as follows:
"Section 2-75 . Use of revolving fund.. The revolving fund
shall be utilized to pay for items such as: (a) contractual
services, housing surveys, travel, supplies and materials, and
other front-end costs related to the development of housing[ . ],_
and (b) to exercise the buy-back option running in favor of the
County contained in any conveyance document and to pay the costs
of maintaining, repairing, renting, or reselling units purchased
by the County pursuant thereto. Any interest earned by the fund
and any advanced costs that are recovered from housing project
funds shall be returned to the revolving fund. "
SECTION 2 . Material to be repealed is bracketed. New
material is underscored. In printing this ordinance, the
brackets, bracketed material, and underscoring need not be
included.
SECTION 3 . This ordinance shall take effect upon its
approval.
l
INTROD•C rA,.. BY:
COUNCIL MEMBER, COUNTY OF HAWAII
Hilo, Hawaii
Date of Introduction:
Date of 1st Reading:
Date of 2nd Reading:
Effective Date:
-Is) 411I