HomeMy WebLinkAboutORD 1986-004 1984-1988COUNTY OF HAWAII STATE OF HAWAII
BILL NO. 11 z
ORDINANCE NO. 86 4
AN ORDINANCE FOR TERMINATION OF IMPROVEMENT DISTRICT NO. 10 AND
CANCELLATION OF ASSESSMENT INSTALLMENTS AND RELATING TO REFUNDS
FOR COUNTY OF HAWAII IMPROVEMENT DISTRICT NO. 10 (KALOKO MAUKA
SUBDIVISION, NORTH KONA)
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. Cancellation of Installments 14 through 15.
Installments 14 through 15 of Improvement District No. 10,
Kaloko Mauka Subdivision, are hereby cancelled.
SECTION 2. Cash Refunds for Installments 14 through 15.
The Director of Finance shall make refunds of the total cash
paid on prepaid installments 14 through 15 to the persons who
are the owners of the assessed lots at the time of actual
refund.
SECTION 3. Other Cash Refunds. The Director of Finance is
authorized to distribute any cash remaining in the accounts of
the improvement district after the refunds authorized in
Section 2 above, to the owners at the time of actual refund, a
prorata refund equal to the amount necessary to ensure that
each lot has paid the same proportionate share of the original
assessment; provided, that the Director of Finance may, in
determining the amount of such distribution, reduce said amount
to such amount as will facilitate the more efficient and
expeditious payment of such distribution; and provided,
further, that the Director of Finance may reserve such amounts
as he deems necessary to cover any outstanding or anticipated
debts or obligations of the improvement district, including the
costs and expenses of making said distribution of funds to lot
owners; the Director of Finance shall make such cash refunds in
such amounts and at such times as he finds are reasonable.
Notwithstanding any other provisions of this section, no cash
refund shall be made for any lot so long as Improvement
District assessments for that lot, whether principal, interest,
penalty or otherwise, are outstanding. Provided, however, that
the cash refund entitlement for any such lot may operate to
reduce the amount of any such outstanding amount as of the
effective date of this section.
SECTION 4. Termination of Improvement District.
Improvement District No. 10, Kaloko Mauka Subdivision, shall be
terminated at such time as the Director of Finance has
determined that all outstanding or anticipated debts or
obligations of the improvement district have been paid or can
be satisfied, and refund distributions pursuant to Sections 2
and 3 have been made.
SECTION 5. In the event that any provision of this
ordinance is declared invalid, the invalidity shall not affect
other provisions or applications of this ordinance.
SECTION 6. This ordinance shall take effect upon its
approval.
Introduced by:
.tom 1'y__
COUNCIL MEMBER, COUNTY OF HAWAII
Hilo, Hawaii
Date of Introduction: January 22, 1986
Date of 1st Reading: January 22, 1986
Date of 2nd Reading: February 5, 1986
Effective Date: February 13, 1986