HomeMy WebLinkAboutCOM 0418.001 2000-2002
li/14/01 R`ED 15:18^FA,b 808 524 8293 McCOItRISTON et.all X002
- a
UF'-R ~--°t f_
Ts~co~oxaT1~~N's~,~~~QU 1~ r ~
OF PZJBI,IC I~PNCr ON FRQP®S~.D C~ ~'i.AIeT
iFORI1VIPROVE DiST1~ICTN®. 1'ii, I~.O ~_,,"~.~ff~;~~~i~tl
AI~1D CONSBNT ~O AIvYOI~T ~PP4
OF .AdSS~55Ivd~NT5 pROPOS~D 1N'T 13~F[)NDINGr PLt~1~I
County Counci! of the County of Hawaii
25 Aupuni Street
Hilo, Hawaii 9b720
TSA CORPORATION, a ~Iavaaii corporation, hereby declares as follows:
i. We are the owner ofthe properties described in ~xhibat tls attached hereto
(collectively, the "Subject Properties"}, alt of which are located in County of lEiawaii Improvement
District No. 1?, ICaloko Subdivision (the "Lnprovetnent District"). rill ofthe Subject Properties
are subject to special assessments required in connection with the County's 1991 issue of special
assessment bonds for the Improvement District (the "1991 Bonds").
2. As the owner of the Subject Propereies, we and N» Corporation filed a Petition,
dated September 6, 2001 (the °'Petition")with the County Council of the County of ~iawaii,
requesting that the County proceed with a proposed refunding plan for all outstanding 1991 Bonds
of the Improvement District (the ''Refunding Pian").
3. VVe have reviewed the Report of the Chief Bngineer of the County dated October 15,
2001 (the "Chief ~ngincer's Report"), filed with the County Council with respect to the Refunding
Plan. We understand that under the proposed Refunding Plan:
a, till outstanding 1991 Bonds are to be refunded by call for optional
redemption on the next available redemption date (which is February 1, 2002} out of the proceeds
of a new series of special assessment refunding bonds to be issued by tho County for the
Iniproveenent iistrict, together with available funds of the Improvement District currently held for
payment of the 1991 Bonds.
b. The proposed refunding is expected to result in reductions ofthe principal
aced/or interest payments associated with the 1991 Bonds. Such reductions vain be applied on a pro
rata basis to properties within the Improvement District, including the Subject property, which
h•~°.~^ ^°atstanding special assessrrients.
c. MID Corporation has proposed a reallocation of the assessments on the
parcels dvhich it owns within the Improvement District. This reallocation will not a~'ect IV1ID
Corporation's total assessment obligations (totaling $8,368,275.28 as of October 12, 2001).
Consequently, the proposed reallocation will not a~'ect the current assessments on any other
properties within the Improvement District, including, the Subject Property, or the pro eats
Cow. N®,
bile loo
°
Pef. To;
Itef. t3a,t~
11/14/oi i9ED 15:17 F~ 808 524 8293 McCORRISTON et.all
i ~J 003
- i
reduction of the assessments on these properties as a result of the proposed r®fundin$ of the 1991
Bonds.
4. Pursuant to Chapter 12, Article 5, specifically Sectian 12-63, ofthe klawaii County
Codc, we hereby: (a) consent to the amount and apporti~nrrtent 'of the proposed assessrneatts under
the Refunding Pia~n; and {b) waive any and al! rights to notice aaad/or hearing with respect to the
Refunding Plan undo Section 12, Article 5 of tht Hawaii County Code.
~T VVI`IfiTESS WF~IEREOIF, the undersigned respectfully submit the foregoing
pursuant to Chapter 12, Article 5 of the Hawaii County Code as of date set forth below.
TSt~ CORPORATION,
a Iiawaii Corporation
By:
H°tdelei i~Tay ~
Its Presid t
Dated' November 12, 2001
2
11/14/01 QED 15:17 F~ 808 524 829 McCORRISTON et. all
. ~J 004
Exhibit
KP~OTtO SLT~AIVISION
PROPEIt'TIES ®V~i~13 ~Y
SSA COl~®RA~°ION
(As of Noveyreber 12, 2001)
1. 3-7-3-051-092 7~-C31
2. 3-7-3-OS1-060 71~-F
3. 3-7-3-051-066 7II-J~2
4. 3-7-3-051-067 7D B3
5. 3-7-3-051-065 7I'-84
6. 3-7-3-051-069 713-BS
7, 3-7-3-051-071 7I) ~7
8. 3-7-3-051-072 7I)-138
9. 3-7-3-051-073 7ID-139
10. 3-7-3-051-074 71~-B11
i 1. 3-7-3-OS I-075 7I)-1312
12. 3-7-3-051-07b 7I~-1313
13, 3-7-3-OS1-077 7]]-1314
14. 3-7-3-051-478 7Ta-1315
15. 3-7-3-OS 1-079 7D-1316
16. 3-7-3-051-080 7D-1g17
17. 3-7-3-051-081 71~-$1 S
18. 3-7-3-051-082 72a-1319
19. 3-7-3-051-084 7D-1321
20. 3-7-3-051-085 7I~-1323
21. 3-7-3-051-092 71~-C31
22. 3-7-3-051-093 7I~-C32
23. 3-7-3-OS 1-094 71~-C33
24. 3-7-3-OS1-09S 71~-C34
25. 3-7-3-051-096 7I)-C35
26. 3-7-3-051-097 7D-C36
3