Proceedings for the establishment of a district shall be instituted by the adoption of a resolution of intention to establish the district. The resolution shall do all of the following:
(1) State that a district is proposed to be established under the terms of this chapter;
(2) State the name of the proposed district in substantially the following form: “City and County of Honolulu Community Facilities District No. ______”. One or more additional descriptive words may be used in the name of the proposed district to indicate its geographic area;
(3) State the term of the proposed district. The term shall be a specified calendar period and shall not expire until all debt service on bonds and incidental expenses related thereto are due to be fully paid;
(4) Describe the boundaries of the proposed district. The boundaries may be described by reference to a map on file in the office of the city clerk showing the proposed district;
(5) Identify the special improvements to be financed by the proposed district. If the purchase of completed special improvements or the incurring of incidental expenses is proposed, the resolution shall identify the improvements or expenses, as the case may be;
(6) Identify the incidental expenses to be paid from special taxes;
(7) State that, except when funds are otherwise available, a special tax sufficient to pay for the costs of the special improvements and incidental expenses shall be annually levied within the proposed district. The resolution shall describe the estimated rate and proposed method of apportionment of the special tax in sufficient detail to allow each landowner within the proposed district to estimate the maximum annual amount that the landowner will have to pay;
(8) Specify the principal amount of bonds proposed to be issued to finance the special improvements;
(9) Fix a time and place for a public hearing on the establishment of the proposed district, which shall not be less than 30 or more than 60 days from the adoption of the resolution of intention; and
(10) Describe the protest procedure.
If an improvement area is proposed to be established, the resolution of intention shall also so state and describe the boundaries of the proposed improvement area, the name proposed for the improvement area, the special improvements proposed to be financed by the improvement area, and whether and to what extent it is proposed that special taxes shall be levied in the improvement area for purposes of financing such improvements.
(1990 Code, Ch. 34, Art. 2, § 34-2.3) (Added by Ord. 96-18)