HomeMy WebLinkAboutORD 1986-139 1984-1988COUNTY OF HAWAII STATE OF HAWAII
BILL NO. z s s
ORDINANCE NO. 86 139
AN ORDINANCE FOR TERMINATION OF IMPROVEMENT DISTRICT NO. 4 AND
CANCELLATION OF ASSESSMENT INSTALLMENTS AND RELATING TO REFUNDS
FOR COUNTY OF HAWAII IMPROVEMENT DISTRICT NO. 4 (POHAKULANI
STREET, HILO, HAWAII)
BE IT ORDAINED BY THE COUt1CIL OF THE COUNTY OF HAWAII:
SECTION 1. Cancellation of Installment 20. Installment 20
of Improvement District No. 4, Pohakulani Street, is hereby
cancelled.
SECTION 2. Cash Refunds for Installment 20. The Director
of Finance shall make refunds of the total cash paid on prepaid
installment 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
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. 4, Pohakulani Street, 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 b~
~~
COUNCIL MEMBER, COUNTY OF HAWAII
Hilo, Hawaii
Date of introduction: November 19, 1986
Date of 1st Reading: November 19, 1986
Date of 2nd Reading: December 3, 1986
Effective Date: December 15, 1986