BIL 366 Draft 01 2006-2008 - Laserfiche WebLink

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COUNTY OF HAWAII STATE OF HAWAII BII,I, NO. 366 ORDINANCE NO. AN ORDINANCE AMENDING CHAPTER 2 OF THE HAWAII COUNTY CODE 1983 (2005 EDITION, AS AMENDED), RELATING TO PARITY LIENS. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: SECTION I. The purpose of this measure is to clarify treatment of parity liens upon receipt of partial payment by adding this section to article 4 of chapter 2 of the Hawaii County Code. SECTION 2. Chapter 2, article 4, of the Hawaii County Code 1983 (2005 edition, as amended), is amended by adding a new section to be appropriately designated and to read as follows: "Section .Lien Parity. Payment on liens that are authorized by this code or by State statute and establish parity as to other liens shall be made as nearly as practical pro rata based on the respective unpaid amounts of all parity liens, including- rincip~al penalty. interest, fees. and costs." SECTION 3. Material to be repealed is bracketed and stricken. New material is underscored. 1n printing this ordinance, the brackets, bracketed and stricken material and underscoring need not be included. SECTION 4. Severability. if any provision of this ordinance, or the application thereof to any person or circumstance, is held invalid, such invalidity shall not affect other provisions or applications of the ordinance which can be given effect without the invalid provision or application, and to this end, the provisions of this ordinance are declared to be severable.