HomeMy WebLinkAboutBIL 233 Draft 02 2012-2014 J�tV OF MtiY
COUNTY OF HAWAII • �• STATE OF HAWAII
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BILL NO. 233
DRAFT 2
ORDINANCE NO.
AN ORDINANCE AMENDING CHAPTER 2, ARTICLE 13, SECTION 2-75, HAWAII
COUNTY CODE 1983 (2005 EDITION, AS AMENDED) RELATING TO USE OF
REVOLVING FUND.
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. The purpose of this amendment is to expand the use of the revolving fund
to allow for the development of housing and not only the preparation for the development of
housing.
SECTION 2. Chapter 2, Article 13, Section 2-75, Hawaii County Code 1983 (2005
edition, as amended), is hereby amended to read as follows:
Section 2-75. Use of revolving fund.
The revolving fund shall be utilized to pay for items such as: (a)
ffent end eests relate` to] the development of housing, and (b)to exercise the
buy-back option running in favor of the County contained in any conveyance
document and to pay the costs of maintaining, repairing, renting, or reselling units
purchased by the County pursuant thereto. Any interest earned by the fund and
any advanced costs that are recovered from housing project funds shall be
returned to the revolving fund.
SECTION 3. Material to be repealed is bracketed and stricken. New material is
underscored. In printing this ordinance, the brackets, bracketed and stricken material and
underscoring need not be included.
SECTION 4. Severability. If any provision of this ordinance, or the application thereof to
any person or circumstance is held invalid, such invalidity shall not affect other provisions or
applications of the ordinance which can be given effect without the provision or application, and,
to the end, the provisions of this ordinance are declared to be severable.
SECTION 5. This ordinance shall take effect upon approval.
INTRODUCED BY:
COUNCIL MEMBER, COUNTY OF HAWAII
Hawaii
Date of Introduction:
Date of 1St Reading:
Date of 2nd Reading:
Effective Date:
REFERENCE Game. 793.2
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