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THE SENATE                           S.R. NO.              
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                    SENATE  RESOLUTION
  REQUESTING THE HAWAII HURRICANE RELIEF FUND TO ESTABLISH A LOW
    COST LOAN FUND AND TO ESTABLISH A GRANT PROGRAM TO HELP
    HOMEOWNERS.



 1        WHEREAS, the Hawaii Hurricane Relief Fund was established
 2   to provide insurance coverage to protect against property
 3   damage resulting from hurricanes; and
 4   
 5        WHEREAS, one of the ways to minimize property damage is to
 6   establish a program to provide low cost loans to aid property
 7   owners to fortify their structures to minimize damage in the
 8   case of hurricanes; and
 9   
10        WHEREAS, such a program not only minimizes damage to the
11   owner's building but provides added protection to the
12   neighboring buildings that might be damaged by flying debris;
13   and
14   
15        WHEREAS, the Hawaii Hurricane Relief Fund also has an
16   implied moral duty to develop programs to protect the citizens
17   of Hawaii from personal injury as a result of hurricanes; and
18   
19        WHEREAS, there is authority to provide these programs in
20   section 431P-5(b)(16), Hawaii Revised Statutes, and related
21   sections; now, therefore,
22   
23        BE IT RESOLVED by the Senate of the Twentieth Legislature
24   of the State of Hawaii, Regular Session of 2000, that the
25   Hawaii Hurricane Relief Fund is encouraged to establish a low
26   cost loan fund similar to that authorized under Act 118,
27   Session Laws of Hawaii 1998, to enable homeowners to borrow
28   funds at below market rates if they are unable to secure
29   conventional funding, and to provide up to $20,000,000 under
30   this program; and
31   
32        BE IT FURTHER RESOLVED that the Hawaii Hurricane Relief
33   Fund is also requested to set up a program to provide grants of
34   up to $10,000,000 to homeowners in high risk zones on Kauai and

 
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                                  S.R. NO.              
                                                        
                                                        

 
 1   Oahu that have experienced hurricane losses in past years so
 2   that the homeowners may fortify their structures against future
 3   hurricane losses; and
 4   
 5        BE IT FURTHER RESOLVED that a certified copy of this
 6   Resolution be transmitted to the Chairperson of the Board of
 7   Directors of the Hawaii Hurricane Relief Fund.
 8   
 9 
10 
11 
12                         OFFERED BY:  ____________________________