ROH §27-7.3
Bond limit based on property value
Read the official text at honolulu.gov ↗This section limits how much a district can borrow with bonds. The borrowed amount cannot be more than one-third of the value of the property that will be taxed to pay back the bonds. The property value is set by an appraiser's report.
counties
The ordinance, as written (Honolulu County) — Minimum value-to-lien ratio
A copy, taken August 22, 2026. The version published by Honolulu is the one that governs, and it may have changed since. Check it before relying on anything here.
The principal amount of bonds issued and outstanding under an indenture or certificate pursuant to which such bonds are issued for a district shall not exceed one-third of the value of the real property upon which a special tax 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 and special improvements, within the meaning of § 27-1.5 , to be constructed within the district, as shown upon an appraisal of the subject property made by an M.A.I. real estate appraiser.
Published by the City and County of Honolulu through American Legal Publishing.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.