How the Council Approves a Community Facilities District

In deciding whether to approve or disapprove the establishment of a proposed community facilities district, the Council shall consider the following:Whether the facility to be financed will have a primarily local or regional benefit. Preference will be given to facilities having a regional impact and benefiting the larger community;Whether the facility or facilities are of high priority to the community when standing alone and when compared to the other facilities needed in the area. Preference will be given to facilities of high priority when standing alone and when compared to other infrastructure needs in the area;Whether the property proposed for a community facilities district is already burdened by other community facilities district financing;Whether the related development, if any, and the subject facility conforms to the policies of the Kaua'i County General Plan, as amended, the Comprehensive Zoning Ordinance, as amended, and the most current related regional development plan;Whether the credit quality for the bond issues will be sustained;Whether there are sufficient safeguards to ensure comprehensive, clear, and timely disclosure to potential buyers of property in the community facilities district;Whether the allocation of the special tax is fair, equitable, and consistent with policies of the Kaua'i County General Plan, as amended, the Comprehensive Zoning Ordinance, as amended, and the most current related regional development plan.If the Council determines that the establishment of the district is in the best interest of the people of Kaua'i, it shall approve an ordinance of formation. The ordinance of formation shall contain the following, but no provision which was successfully protested pursuant to Section 26-2.8 shall be included:The name of the district;The term of the district;The boundaries of the district;The special improvements to be financed by the district;That incidental expenses will be paid from the special tax;The rate and method of apportionment of the special tax levied within the district, including examples of prepayment calculations;The principal amount of debt to be issued for financing the special improvements of the district; andAny other information required by this Chapter.When the ordinance of formation is passed on final reading, the Council shall determine whether all proceedings were valid and in conformity with the requirements of this Chapter. If the Council so determines, it shall make a finding to that effect. The finding shall be final and conclusive.