HomeMy WebLinkAboutRES 231 Draft 02 1994-1996CQ Y OF HAWAII STATE OF NAII
RESOLUTION
WHEREAS, the Office of Housing and Community Development (OHCD), as part of its
efforts to provide affordable housing units, has the first right of refusal to buy back affordable
housing units for the first ten (10) years of various affordable housing projects; and
WHEREAS, Section 5-3.3 (c) of the Hawaii County Charter states that the Finance
Director may negotiate loans, issue and sell bonds and notes with authorization from the Hawaii
County Council; and
WHEREAS, it is essential for the OHCD to maintain funds to buy back affordable housing
units to preserve the units as affordable housing units;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCII. OF THE COUNTY OF
HAWAI' I that the Director of Finance is hereby authorized to procure, negotiate and enter into
short-term loans to purchase the two (2) homes located on Lots 89 and 106 of the Paniolo Estates
Subdivision in Waikoloa.
BE IT FURTHER RESOLVED that the Mayor is hereby authorized to enter into and
execute loan agreements and other documents necessary to provide short-term loans to purchase
the two (2) homes provided for above.
BE IT FURTHER RESOLVED that the Clerk of the County of Hawai i transmit copies
of this Resolution to the Office of the Mayor, the Department of Finance and the Office of
Housing and Community Development.
Dated: Hilo, Hawaii, this 5th day of Decenber .1995.
COUNTY OF HAWAI I
I hereby certify tha
vote indicated to tl
the County of HaH
ATTEST: !,~
R OLL CA LL VOTE
COUNTY COUNCIL
County of Hawaii AYES NOES ABS EX
Hilo, Hawaii
Arakaki X
Bonk-Abramson ){
t the foregoing RESOLUTION was by the ~~ X
the COUNCIL of
to ri
ht hereof ado
ted b ~ L"na X
g
p
y
December 5
1995
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ii Domingo X
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on Osorio X
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(/ Ray X
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~~ Smith X
9 0 0 0
( Reference C-831/CHA(11/15/95)
COUNTY CLERK CHAIRMAN & PRESIDING OFFICER RESOLUTION NO. 2~1 ~a3
(DRAFT 2)