HomeMy WebLinkAboutRES 671 Draft 01 1976-1980County of Hawaii—State of Hawaii
Resolution NoL 671
WHEREAS, the Council of the County of Hawaii, through
Ordinance No. 125 of June 18, 1975, established a "County
Housing Program Revolving Fund" maintained by the Director
of Finance; and
WHEREAS, the County Housing Program Revolving Fund is
intended to be used for contractual services, housing surveys,
travel, supplies and materials and other front-end costs
related to the development of housing; and
WHEREAS, said ordinance stipulates that any advanced
costs that are recovered from housing project funds shall be
returned to the Revolving Fund; and
WHEREAS, the West Hawaii Housing Foundation is a non-
profit organization created to, among other objectives, act
as a sponsor for the construction of low and moderate -income
housing which is attractive, safe and sanitary in a healthy
social environment; and
WHEREAS, the objectives of the Foundation are commensurate
with the intent of Ordinance No. 125 dated June 18, 1975, of
the County of Hawaii; and
WHEREAS, the West Hawaii Housing Foundation, according
to its request to the Mayor dated May 6, 1980, is desirous
of proceeding with a low/moderate-income housing development
in Keauhou, Kona, utilizing federal funds, and requires the
amount of TWENTY-FIVE THOUSAND AND N0/100 DOLLARS ($25,000.00)
for "seed money" in the form of a loan to be repaid to the
fund;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE
COUNTY OF HAWAII that the sum of TWENTY-FIVE THOUSAND AND
N0/100 DOLLARS ($25,000.00) shall be released from the
County Housing Revolving Fund to the West Hawaii Housing
Foundation in the form of a loan, which sum when repaid
shall be returned to the County Housing Revolving Fund; and
BE IT FURTHER RESOLVED that the Chairman of the Hawaii
County Housing Agency and the Mayor are authorized to deter-
mine the terms of said loan and to prepare and execute a
loan agreement with the West Hawaii Housing Foundation for
the amount of the loan.
1980.
Dated at Hilo, Hawaii, this 6th day of August ,
COUNTY COUNCIL
County of Hawaii
Hilo, Hawaii
INTRODUCED BY:
I hereby certify that the foregoing RESOLUTION was by the vote indicated to
the right hereof adopted by the COUNCIL of the County of Hawaii on.
............. .Au9u S.t....6.1...1.9.$. Q..............................
ATTEST:
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Re. LECIABW TEPH
COM K Y HIRO
COUNTY CLERK airman a Pres di g Officer
ROLL CALL VOTE
AYES I NOES A/E
Dahlberg
X
Domingo
X
Fujii
X
Garcia
X
X
_Nawshare
Lei
X
Sameshime
X
Taild
X
Chr. Yamashiro
9 0 0
Reference: ............................................................
M.B. No. ..... ..._._.............
__
.._... .......................... .
671