HCC §35-51

Bond limit based on property value

Read the official text at hawaiicounty.gov ↗

This section limits how much a district can borrow by issuing bonds. The bond amount cannot be more than one-third of the value of the real property that will be taxed to pay the bonds. The value is based on the county's property tax assessment, including land, existing buildings, and certain improvements to be built.

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The ordinance, as written (Hawaiʻi County) — Minimum value-to-lien ratio

A copy, taken August 21, 2026. The version published by Hawaiʻi County is the one that governs, and it may have changed since. Check it before relying on anything here.

The principal amount of bonds authorized to be issued for a district shall not exceed one-third of the value of the real property upon which an assessment is levied for payment of the debt service on the bonds. The “value of the real property” shall be the fair market value of the land, the improvements thereon and the improvements, within the meaning of section 35-3, to be constructed within the district, as shown by the real property tax assessed values of the subject property. (2004, ord 04-94, sec 1.)35-51

Read the official text at hawaiicounty.gov ↗as published Jul 16, 2026our copy taken Aug 21, 2026

Published by the County of Hawaiʻi Office of the County Clerk.

LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.