HomeMy WebLinkAboutORD 1986-018 1984-1988COUNTY OF HAWAII STATE OF HAWAII
BILL NO.
ORDINANCE NO. 86 18
AN ORDINANCE FOR TERMINATION OF IMPROVEMENT DISTRICT N0. 5 AND
CANCELLATION OF ASSESSMENT INSTALLMENTS AND RELATING TO REFUNDS
FOR COUNTY OF HAWAII IMPROVEMENT DISTRICT N0. 5 (KISHI
SUBDIVISION, SOUTH KONA, HAWAII)
BE IT ORDAINED BY THE. COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. Cancellation of Installments 17 through 20.
Installments 17 through 20 of Improvement District No. 5, Kishi
Subdivision, are hereby cancelled.
SEC'PION 2. Cash Refunds for Installments 17 through 20.
The Director of Finance shall make refunds of the total cash
paid on prepaid installments 17 through 20 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
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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.
SECTION 4. Termination of Improvement District.
Improvement District No. 5, Kishi 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:
COUNCIL MEMBER, COUNTY OF HAWAII
Hilo, Hawaii
Date of Introduction: February 19, 1986
Date of 1st Reading: February 19, 1986
Date of 2nd Reading: March 5, 1986
Effective Date: March 6, 1986