ORD 2011-065 2010-2012 - Laserfiche WebLink

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COUNTY OF HAWAII STATE OF HAWAII BILL NO. 54 ORDINANCE NO. 11 65 AN ORDINANCE AMENDING CHAPTER 12, ARTICLE 3, OF THE HAWAII COUNTY CODE 1983 (2005 EDITION, AS AMENDED), RELATING TO IMPROVEMENTS BY ASSESSMENTS. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: SECTION 1. Purpose. The purpose of this bill is to amend two sections relating to the administration of Improvement Districts to improve efficiency and reduce costs by allowing additional options in tax assessment frequency and by amending the default criteria to allow for consolidation of delinquencies for foreclosure proceedings when it is in the best interest of the County. SECTION 2. Chapter 12, Article 3, Section 12 -34, Hawai`i County Code 1983 (2005 Edition, as amended), relating to Payment of installments, is amended to read as follows: Section 12 -34. Payment of installments. (a) In case of an election to pay any assessment in installments, the assessment shall be payable in not less than five nor more than twenty annual installments of principal; provided that, in the case of improvements financed by bonds issued to secure loans from the federal government, the maximum number of annual principal installments may be increased so as to permit the repayment of the principal of such bonds over a period not to exceed thirty -five years from the date of issuance; and provided further that the council may, in its discretion, determine the date on which payment of such annual installments shall commence, which date shall be no more than three years from the thirty -first day following the last publication of the ordinance required to be enacted pursuant to section 12 -29. The annual installments shall be in such amounts as determined by the council, and each annual installment may be made payable in up to twelve equal monthly or other periodic installments; provided that principal, interest or both on any bonds outstanding due prior to collection of annual assessment shall be paid in accordance with section 12- 49, and except as provided in sections 12 -44, 12 -45, and 12 -46 regarding temporary advances, shall not be paid out of any moneys available in the County treasury. Interest in