HomeMy WebLinkAboutBIL 064 Draft 01 2010-2012 (-----
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COUNTY OF HAWAII •: / ` STATE OF HAWAII : .
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BILL NO. 64
ORDINANCE NO.
AN ORDINANCE FOR TERMINATION OF IMPROVEMENT DISTRICT NO. 17,
CANCELLATION OF ASSESSMENT INSTALLMENTS, AND DISTRIBUTION OF REFUNDS
FOR COUNTY OF HAWAII IMPROVEMENT DISTRICT NO. 17 (KALOKO SUBDIVISION).
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI`I:
SECTION 1. Purpose. The purpose of this bill is to authorize the Director of Finance to
terminate Improvement District No. 17, Kaloko Subdivision, and to provide for the disposition of
the Improvement District No. 17 cash remaining in the ID Assessment Fund upon its termination
and close of the ID Assessment Fund.
SECTION 2. Cancellation of Installments 222 to 228.
Installments 222 to 228 of Improvement District No. 17, Kaloko Subdivision, are hereby
cancelled.
SECTION 3. Cash Refunds for Installment No. 221.
The Director of Finance shall make refunds of overpayment on installment no. 221 to the
person(s) or entity who are the owners of the assessed lots at the time of the payments.
SECTION 4. Termination of Improvement District.
Pursuant to section 12 -28.1, Hawai`i County Code, Fund 123, Improvement District No. 17, Kaloko
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 have been made. Any unforeseen surplus /deficit surfacing after the
improvement district has been terminated, will be paid from/deposited to the improvement district
revolving fund pursuant to section 12 -49, Hawai`i County Code.
SECTION 5. The redemption date fixed in the call for redemption of all outstanding
Improvement District No. 17 bonds of January 1, 2011 has passed.
SECTION 6. 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 7. This ordinance shall take effect upon its approval.
INTRODUCED BY:
9/C/ "--
COUNCIL MEMBER, COUNTY OF HAWAII
, Hawai`i
Date of Introduction:
Date of 1st Reading:
Date of 2nd Reading:
Effective Date:
REFERENCE' Comm. 249
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