HomeMy WebLinkAboutCOM 0418.009 2000-2002 11/14/01 ~9ED 15:21 FA,~ 808 524 8293 McC01?RISTON et.all ~02Q
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o~s'r~ESSEI:s' ~®1J~lnER aN PE~1°IT'IOl~ OF TSA CO1tP012A'i'I®Y+~ '
Ala C0~?OI~A~°I®lv ~~AltsDrl~G zalz®1~OS~D 1~E~lnn~~ ,
1>diP1t0~ElbIETd'I' I)IS°TRIC°T N®. 17, KAI~®K® SLTI~DTVYSION, V ~ i
Pi1BLIC I-IEAl@.1T~C~ Alm COIeISEl~'T °TO AIVdO1~V°T AIJD t~P®R`TI®1~ ~ ,
OP` ASSESSMEleI'I'S PROP®SED 11V RE~JI~?Ii~1Gi PL,~' R' ' . , ~ ! ~ `
County Council of the County of ]Elawaii
25 Aupuni Street
Kilo, Hawaii 96720
dVe, the undersigned, hereby declare as follows:
1. We are tho owners of the "Subject Property" identified below, which is located in
County of Iiawaii Irraprovegnent Distract No.17, I~loko Subdivision (the'°Improvement Distract"),
or i f not the owners, are lessees of the Subject Property rho by the express fatties of our least must
pay special assessments required in conuncction with the County's 1991 issue of special assessment
bonds for the Improvement DAStrict (the "1991 Eoiads").
2. W
e have reviewed fret Petition dated September 6, 2001 (the "Petition") ftledby `fSA
Corporation and MID Corporation (the "Petitioners") vstith the County Council of the County of
Havaaii, requesting that the County proceed with a proposed refiandarAg plain for all oattstanding 1991
Bonds of the Improvement District (the "1Zef~uadatl$ Plan"). We have als® reviewed the Report of
the Chief Engineer of the County dated October 15, 2001 (the "Chief Irnganeer's Report"), pled with
the County Council with respect to the Refunding Plan> As set f®rth in the Petati®n d the Chief
Engineer's Report, we understand that, under the proposed Refunding Plan:
a. .+~11 outstanding 1991 Fonds are to be refunded by call for optional realeffiption
on the next available redemption date (which is Febaaaary 1, 2002) out of the proceeds of a s~cw series
of special assessment refun ' bonds to be issued lsy the County for the Isxtprov®neeait District,
together with available funds of the Improvement District currently held for payanent of fife 1991
Fonds.
b. 'The proposed refunding is expected to result in reductaoYas of the principal
and/ar interest paytnex?ts associated with the 1991 l3onds. Such reductions v~ill be applied oz~ a psi
rata basis to properties within the Improvement District, including the Subject property, which have
outstanding special assessments.
c. Nf1D Corporatior? has proposed a reallocation of the assessments on the
p~..;.,as which it owns withiaa the Jfinprovement District. `his rcalloeation will not affect 1V1~3
Cozporation's total assessment obligations (totaling 58,368,275.28 as of October 12, 2001).
Consequently, t'?ae proposed reallocation will not a#~ect the cureent assessments on any other
properties within the Improvement District, including the Subj act Property, or the pt+o rata reduction
of the assessments on these properties as a result of the praposed refunding of ~e 1991 Fonds.
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11/14/01 iYED 15:22 FA% 808 524 829a McCORRISTON et.all
~j 02!
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3. puxsaaagat to Chapter 12, ~ticle 5, spcci~cally Section 12-63, of the 1'l[a~raai County
Code, we hereby: (a) join with Petitioners in the filing and aclcaovvledent of the Petition; (b)
consent to the ar~nount and a~pportioa~ent of the proposed assessments under the Ite ° ~ Ply;
and (c) waive any and all r<~lats to n®tice and/or hearing with respect t® the Refunding Flan under
Section 12, :~ticle S of the 1°Iadvaii County Codc.
IN 1~4~IfiNT<SS WARE®F, the undersigned respect~lly submit the f~going
pursuant to Chapter 12, Article S of the lniawaii Coaanty Code as of date set forth below.
TAYLOR FAMI~,Y ~,IMIT'1?D PARfi1~RS,
a Pla~vaii limited partnership
By.
NaYneo ~s~~rr-~ ~
zts: S .
Subject property: flax Map Key No. (3) 7-3-051-OS9
Tax Map Key No. (3) 7-3-OS 1-090
Dated• ~®c,, ~ , 2001.
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