HAR §15-305-38
HAR §15-305-38. Sales price
Length: 580 wordsOfficial source
Cite as Haw. Code R. § 15-305-38
(a)
The sales price of
the leased fee interest in a residential lot to the
lessee of the lot shall be that amount of money that
will enable the corporation to recover the total cost
of acquiring the lot.
305-19
qrs tu
§15-305-38
(b)
The total cost of acquisition shall include:
(1)
The actual cost of acquisition determined by
negotiation or by eminent domain
proceedings;
(2)
Any and all court costs;
(3)
The cost of appraisal not previously paid
for pursuant to section 15-305-35;
(4)
Any other tract costs incurred by the
corporation;
(5)
An amount sufficient to pay the principal and
interest on bonds issued or to be issued, or
other financing, for the purpose of carrying
out chapter 516, HRS; and
(6)
An amount sufficient to create and maintain a
reserve to enable the corporation to make the
largest amount of principal and interest
payments which may be due on such bonds in
any one year.
(c)
Any unused balance of the initial deposit
and additional deposit paid to the corporation by a
lessee shall be credited to the sales price of the
residential lot of the lessee.
(d)
The executive director may take whatever
action the executive director deems necessary to
collect the costs and fees set forth in this section
from the lessee, including the automatic deductions of
the costs and fees from the initial deposit and
additional deposit made by the lessee in accordance
with section 15-305-11. [Eff .ILJM
] (Auth:
HRS §516-7) (Imp:
HRS §§516-t', •~1J..-tQ07516-24, 516-26,
516-30, 516-32)
305-20
§15-305-38
(b)
The total cost of acquisition shall include:
(1)
The actual cost of acquisition determined by
negotiation or by eminent domain
proceedings;
(2)
Any and all court costs;
(3)
The cost of appraisal not previously paid
for pursuant to section 15-305-35;
(4)
Any other tract costs incurred by the
corporation;
(5) An amount sufficient to pay the principal and
interest on bonds issued or to be issued, or
other financing, for the purpose of carrying
out chapter 516, HRS; and
(6) An amount sufficient to create and maintain a
reserve to enable the corporation to make the
largest amount of principal and interest
payments which may be due on such bonds in
any one year.
(c)
Any unused balance of the initial deposit
and additional deposit paid to the corporation by a
lessee shall be credited to the sales price of the
residential lot of the lessee.
(d)
The executive director may take whatever
action the executive director deems necessary to
collect the costs and fees set forth in this section
from the lessee, including the automatic deductions of
the costs and fees from the initial deposit and
additional deposit made by the lessee in accordance
with section 15-305-11. [Eff
" J JN,
]
(Auth:
HRs s516-7) (Imp:
HRs ss5i6-f'LJ55400416-24, 516-26,
516-30, 516-32)
305-20
SUBCHAPTER 4
MISCELLANEOUS PROVISIONS
§15--305-42
§15~305-41
Zoning changes.
All lessors shall
notify their lessees when applying for a change in
zoning if the lessees reside within three-fourths mile
of the land proposed to be rezoned.
Notice to the
lessees shall be in writing or published in a
newspaper of general circulation at least thirty
calendar days before filing the rezoning application
with the appropriate public zoning authority.
A copy
of the notice shall be submitted to the corporation at
the time of mailing to the lessees or publication.
[Eff JUN 15 2nn1
] (Auth:
HRS §516-7) (Imp:
HRS
§ § 516 - 6 , 5 16 - ~-·'i)