County fund for buying land for public use

preservation fund. (a) A public access, open space, and natural resources preservation fund is hereby established. This special fund shall be administered and managed by the finance department. Monies deposited shall be invested in a conservative interest-bearing account that will allow monies to be available for property acquisition and prevent any erosion of the fund’s principal amount. (b) The fund shall consist of monies from: (1) The proceeds from the sale of any general obligation bonds, authorized and issued for the purposes of this section; (2) Council appropriations for the purposes of this section; (3) Any source of revenue dedicated by the Charter or the Code for the purposes of this section; (4) Grants and private contributions intended for the purposes of this section; (5) Two percent of Hawai‘i County real property tax revenues collected annually (including penalties and interest). Deposits will be made to the Fund on June 30, 2007 and then again on December 31, 2007, and on December 31 and June 30, in successive years, with deposits being calculated on all real property tax payments (including penalties and interest) received in the prior six months. Additional deposits and adjustments may be made at the discretion of the director of finance; (6) Monies from items numbered (1), (2), (3), and (4) above, shall be deposited as received; and (7) Notwithstanding (b)(5) of this section, for the period from July 1, 2009 to June 30, 2011, no payments relating to this section shall be allocated or deposited, provided, however, that all payments accrued through June 30, 2009 shall be allocated and deposited by July 31, 2009. (c) The fund shall be used for acquiring lands or property entitlements in the County of Hawai‘i for the following purposes: (1) Public outdoor recreation and education, including access to beaches and mountains; (2) Preservation of historic or culturally important land areas and sites; (3) Protection of natural resources, including buffer zones; (4) Preservation of forests, beaches, coastal areas, natural beauty and agricultural lands; and (5) Protection of watershed lands to preserve water quality and water supply. SUPP. 11 (1-2022) 2-90 ADMINISTRATION § 2-214.1 (d) The director of finance shall ensure that the following covenant is written and duly recorded as part of the deed of any property acquired pursuant to this section: “This land/easement was acquired with moneys from the Public Access, Open Space, and Natural Resources Preservation Fund. It shall be held in perpetuity for the use and enjoyment of the people of Hawai‘i County and may not be sold, mortgaged, traded or transferred in any way.” The director of finance shall select either “land” or “easement” based on the type of property acquired. (2005, ord 05-85, sec 2; am, ord 05-166, sec 1; am 2006, ord 06-151, sec 1; ord 06-169, sec 1; am 2007, ord 07-21, sec 1; am 2009, ord 09-66, sec 2; am 2013, ord 13-31, sec 2; am 2015, ord 15-97, sec 3-5.) 2-214.1