HomeMy WebLinkAboutCOM 0063.012 2006-2008 Mt~~ r N~i
Brenda J. Ford Phone No.: (808) 326-5684
Council Member Fax No.: (808) 329-4786
Dis[ric[ 7-Central Kona E-Mail: bt'ord@co.hawaii.hi.us
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HAWAII COUNTY COUNCIL
County ofHawai `i
Kailua Trade Center
75-5706 Hanama Place, Suite 109
Kailua-Kona, Hawaii 96740
February 6, 2007
To: Pete Hoffmann, Chair
And Members of the Hawaii County Council
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From: Brenda Ford, Council Member ~[t ~ ~
Subject: Bill 19, Draft 3, a bill amending Chapter 2, Article 42, Hawaii County Code
1983 (2005 Edition, as amended) relating to the Public Access, Open Space and
Natural Resources Preservation Fund
Enclosed is Bill 19, Draft 3, which amends Draft 2 as follows:
I. Adds to sub-section 2-214(a), "...Monies deposited shall be invested in a
conservative interest-bearin¢ account that will allow monies to be available for
property acquisition and prevent any erosion of the fund's principal amount."
2. Deletes and adds to sub-section 2-214(b) (5), "Two percent of Hawaii County real
property tax revenues collected annually (including penalties and interest). [T=ke
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Deposits will be made to the Fund on June 30 2007 and then again on December 31,
2007 and on December 31 and June 30 in successive years, with deposits bein¢
calculated on all real property tax pavments (includingpenalties and interest)
received in the prior six months Additional deposits and adiustments may be made
at the discretion of the Finance Director; and."
3. Adds to sub-section 2-214(b) (6), "Monies from items numbered (1), (2). (3), and (4)
above shall be deposited as received."
Comm. Na ~3• I Z-
Ref. To~ Ct l
Att. Ref. Date ^ 9
B ~ 19~ a. 3
Hawai `i County Is An Equal Opportunity Provider And Employer