HomeMy WebLinkAboutBIL 302 Draft 01 1996-1998 COUNTY OF HAWAII STATE OF HAWAII
BILL NO. 302
ORDINANCE NO. 98 119
AN ORDINANCE FOR TERMINATION OF IMPROVEMENT DISTRICT NO. 16
AND CANCELLATION OF ASSESSMENT INSTALLMENTS AND RELATING TO
REFUNDS FOR COUNTY OF HAWAII IMPROVEMENT DISTRICT NO. 16
(KEAAU AGRICULTURAL LOTS).
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. Cancellation of Installments 152 through 240.
Installments 152 through 240 of Improvement District 16, Keaau Agricultural Lots, are
hereby cancelled.
SECTION 2. Cash Refunds for Installments 152 through 240.
The Director of Finance shall make refunds of the total cash paid on prepaid installments
152 through 240 to the persons who are the owners of the assessed lots at the time of
actual refund.
SECTION 3. Other Cash Refunds.
The Director of Finance is authorized to distribute any cash remaining in the accounts of
the improvement district after the refunds authorized in Section 2 above, to the owners at
the time of actual refund, a pro rata refund equal to the amount necessary to ensure that
each lot has paid the same proportionate share of the original assessment; provided, that
the Director of Finance may, in determining the amount of such distribution, reduce said
amount to such amount as will facilitate the more efficient and expeditious payment of
such distribution; and provided, further, that the Director of Finance may reserve such
amounts as he deems necessary to cover any outstanding or anticipated debts or
obligations of the improvement district, including the costs and expenses of making said
distribution of funds to lot owners; the Director of Finance shall make such cash refunds
in such amounts and at such times as he finds are reasonable.
SECTION 4. Termination of Improvement District.
The Improvement District Construction Fund, Fund 124, is hereby immediately
terminated, and all cash remaining in the fund shall be transferred to the Improvement
District Agency Fund, Fund 121, to facilitate the refunds authorized in Sections 2 and 3.
Fund 121, Improvement District No. 16, Keaau Agricultural Lots Agency Fund, 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 pursuant to Sections 2 and 3 have been made.
SECTION 5. 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 6. This ordinance shall take effect upon its approval.
I educed by:
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COUNCIL MEMBER, C•' TY OF HAWAII
Hilo, Hawaii
Date of Introduction: October 21, 1998
Date of 1St Reading: October 21, 1998
Date of 2nd Reading: November 6, 1998
Effective Date: November 19 , 1998
REFERENCE: Comm. 9 9 6
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