Laserfiche WebLink
COUNTY OF HAWAII <br />STATE OF HAWAII <br />BILL NO. <br />ORDINANCE NO. <br />(DtY~FP 2 ) <br />AN ORDINANCE AMENDING CHAPTER 2, ARTICLE 42, OF THE HAWAII COUNTY <br />CODE 1983 (2005 EDITION, AS AMENDED), RELATING TO PUBLIC ACCESS, OPEN <br />SPACE, AND NATURAL RESOURCES PRESERVATION FUND. <br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br />SECTION 1. Purpose. Due to extreme economic necessity in light of the poor global <br />economic situation and projected down turn in real property tax revenues, it is necessary to <br />temporarily suspend allocation and deposits to the Public Access, Open Space and Natural <br />Resources Preservation Fund. <br />SECTION 2. Section 2-214, Hawaii County Code 1983 (2005 Edition, as amended), is <br />amended to read as follows: <br />Section 2-214. Public access, open space, and natural resources preservation <br />fund. <br />(a) A public access, open space, and natural resources preservation fund is <br />hereby established. This special fund shall be administered and managed <br />by the finance department. Monies deposited shall be invested in a <br />conservative interest-bearing account that will allow monies to be <br />available for property acquisition and prevent any erosion of the fund's <br />principal amount. <br />(b) The fund shall consist of monies from: <br />(1) The proceeds from the sale of any general obligation bonds, <br />authorized and issued for the purposes of this article; <br />(2) Council appropriations for the purposes of this article; <br />(3) Any source of revenue dedicated by the Hawaii County Charter or <br />the Hawaii County Code for the purposes of this article; <br />(4) Grants and private contributions intended for the purposes of this <br />article; <br />