§ 27-2.13 District term.

   The term of a district shall be a specified calendar period. Under an ordinance of formation, the expiration of the term shall not be earlier than the date on which all outstanding debt service on bonds and incidental expenses for the district are due to be fully paid.

(1990 Code, Ch. 34, Art. 2, § 34-2.13) (Added by Ord. 96-18)

§ 27-2.14 Financing of special improvements and payment of incidental expenses identified in ordinance of formation.

(a)   Only the special improvements identified in the ordinance of formation for a district may be financed by the district under the authority of this chapter.

(b)   Only the incidental expenses identified in the ordinance of formation may be paid from the special taxes levied within a district.

(1990 Code, Ch. 34, Art. 2, § 34-2.14) (Added by Ord. 96-18)

§ 27-2.15 Designation of improvement area.

   For the purpose of financing specified special improvements, the council may designate a portion of a district as an improvement area. The designation shall be made in the ordinance of formation for the district. An improvement area shall be known as “Improvement Area No. ______ of City and County of Honolulu Community Facilities District No. __________.” After the designation of an improvement area, all proceedings to levy special taxes for the financing of the specified special improvements shall apply only to the improvement area, except to the extent otherwise provided in the ordinance of formation.

(1990 Code, Ch. 34, Art. 2, § 34-2.15) (Added by Ord. 96-18)