HomeMy WebLinkAboutCOM 0418.006 2000-2002
11/14/02 i~D 15:19 FA.X 808 524 8293 McCORRISTON et.all ~ 014
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OWNEItS'II.JdSSEE5' J®~DER 1N JPETTTI®1~T OF TSA CORPORATION ~.1`TD
MID CORPORATION RECil~RDING PROF®Sl?D It ,1~T9~ ;FRS
IMPROI~NT DISTRICT loT®. 17, I~ALOI~® SUBI3T~ISI®N, WAIVBI~ OP
PUBLIC I3~ARING C®NSEN'T TO AN4OUioifi AND ' . O r
OF ASSESSIV~NTS ~1~®P®SEI~ ~T T ~E ~ ° ; ii :is
Y',?';l~
County Council of the Coutaty of ~Iawaii
25 Aupuni Street
I3ilo, l~Tawaii 96720
We, the usadersigraed, hereby declare as follows:
1. We are the ov~ners of the "Subject Pmpet°tSI' identi,ficd below, which is located in
County of l~lawaii Iaraproveaaent District No.17, ]Kaloko Subdivision (the "Jxnprovenacnt District"),
or if not the avmers, are lessees of tlao Saabject I'rapertry vrho by the express tees of our lease must
pay special assessments required in connection with the County's 1991 issue of special assess~aen4
bands for flee Improvement I3astrict (the "1991 Bonds").
2. VVc have reviewed the Petition dated. Septcnabcr 6, 2001 (the "Petition") ~ilerl by TSA
Corporation and ) Corporation (the "Fetitioarers") vrith the County Council of the County of
Iiar~~»:<, requesting that the County proceed with a proposed refunding plan for all outstanding 1991
bonds of the Improvement Distract (the "Refunding Plan"). We have also reviewed the Report of
the ChiefEffigixaeer ofthc County dated ®ctober 15, 2001 (the "ChaefEt~Sineer•'s Report"), filed with
the County Council with respect to the Refianding Plan. As set forth in the Petition and the Chief
Pngineer's Report, we understand that, under the proposed Refunding Plan:
a. All outstanding 1991 Bonds. are to be refunded by call for optioslal rcdptioxa
on the next available redemption date {which is February 1, 2002) out of the proceeds of anew series
of special assessment rcftaradang bonds to be issued by flee County for the Ixnprove~aent District,
together with available farads of the Improvement District currently held for payment of the 1991
Bands.
b, 'T°tae proposed refunding is expected to result in reductions of the principal
and/or interest payments associated with the 1991 Bonds. Such reductions will be applied ors a pro
rata basis to properties withau the Improvement District, including the Subj ect :Property, which have
outstanding special asscssrnents.
c. Ni1D Corporation has proposed a reallocation of the assessments on the
parcels which it owns within flee Improvement Distract. This reallocation will not affect NIA
Corporation's total assessment obligations {totaling 58,368,275,28 as of ®ctober i2, 2001).
Consequently, the proposed reallocation will xiot effect tltP current assessments oa ~y other
properties within the Irraprovement District, including the Subject Prapea°t-y, or the pro rata. redaction
of the assessments on these properties as a result of the proposed re~arcadirig of the 1991 Viands.
CoYrarra. No.,,~ ~ •
File No. _ _ _
~c`. To:
NPf. r~,~ 1 1~
11/14/01 i~ED 15:20 FAQ 808 524 8293 b1cC0I2ItISTON et.all ~J015
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3. Pursuant t® Chapter 12, Article S, specifically Section 12-b3, of the ~Iawaii Coua?ty
Codc, we laexeby: {a) join with Petitioncrs in the fling and acl~ovaledgnaent of the Petition; (b)
consent to the amount and app®rtiononent of the proposed assessrn~ts under the ~eftuadin~ Plan;
and (c) waive aagy and all ruts t® notice and/or hearan~ with respcct to the Itef~andin~ Plan under
Section 129 Article 5 of the liaw?aii C®unty Code.
]N WITNESS CP, the ~adersi,,~~ed respectfully subra~it the fore~oiati~
pint to Chapter 12, Artictc 5 of the giawaii Coosa ~~Ode as of date set forth below.
~1?DE~ P. 4
SUNG I-IlIN C~IUNG
Subject Property: ~'aac M,ap ICey No.(3) 7-3-05i-087
Dated 1 ~ - ~ , 2001.
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