MCC §14.58.040
How Bondholders Can Ask for a Refunding
Read the official text at library.municode.com ↗This section explains how people who hold bonds for an improvement district can ask the county council to refund those bonds. They need to own at least 60% of the bond value and must include a refunding plan in their request. The rules for bondholder petitions are the same no matter how many bondholders sign.
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The ordinance, as written (Maui County) — Petition—Procedure
A copy, taken August 21, 2026. The version published by Maui County is the one that governs, and it may have changed since. Check it before relying on anything here.
Holders of not less than 60 percent of the principal amount of outstanding bonds issued
upon the security of assessments levied upon property within an improvement district
may file with the council a petition requesting refunding of such bonds. Petitions
of owners, or bondholders as aforesaid, or recommendations of the mayor shall set
forth a proposed plan of refunding. section 14.40.040 shall apply to a petition by bondholders regardless of the number of bondholders
who sign the petition.
(Ord. 801 § 1 (part), 1974: prior code § 25-11.4)
Read the official text at library.municode.com ↗as published Nov 21, 2025our copy taken Aug 21, 2026
Published by the County of Maui through Municode.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.