§171-78  Notice; drawing.  No
residential lease shall be made unless notice of the board of land and natural
resources' intention to lease, with such details concerning the intended lease
and method of application for the lease as the board deems necessary or
desirable, is published as provided in section 171-16(b).  The person entitled
to the lease shall be determined by drawing from among the qualified applicants
who have submitted evidence satisfactory to the board of loan commitments,
still in force, from recognized lending institutions to finance the
construction of a residence upon the premises.  Only those who are entitled to
preference may participate in the drawing, and one of them shall be entitled to
the lease of the lot offered, or if more than one lot is offered, they shall
have their choice among the lots offered, according to the numbers drawn by
them.  If there are more lots than qualified applicants entitled to preference,
those without preference may participate in the drawing after all preferred
qualified applicants have made their choices.  Any lease referred to in the
published notice which is not taken upon the drawing may thereafter be leased
to any qualified applicant for a residential lease having a loan commitment,
still in force, from a recognized lending institution to finance the
construction of a residence upon the premises, notwithstanding the person was
not an applicant at the date of the drawing, without further publication of
notice and without further drawing, if the lease is made within one year of the
date of the drawing of which notice was published. [L 1962, c 32, pt of §2;
Supp, §103A-74; HRS §171-78]