COM 1109.000 2020-2022 - Laserfiche WebLink

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Payment Date in which event interest shall be payable from such date of authentication, (ii) the date of authentication is after a Record Date (as hereinafter defined) but prior to the immediately succeeding Interest Payment Date, in which event interest shall be payable from the Interest Payment Date immediately succeeding the date of authentication, or (iii) the date of authentication is prior to the close of business on the first Record Date in which event interest shall be payable from the Dated Date set forth above. Notwithstanding the foregoing, if at the time of authentication of this Bond interest is in default, interest on this Bond shall be payable from the last Interest Payment Date to which the interest has been paid or made available for payment or, if no interest has been paid or made available for payment, interest on this Bond shall be payable from the Dated Date set forth above. Interest will be paid semiannually on each May 15 and November 15 (each, an "Interest Payment Date"), commencing May 15, 2023, at the Interest Rate set forth above, until the Principal Amount hereof is paid or made available for payment. The principal of and premium, if any, on this Bond are payable to the Registered Owner hereof in lawful money of the United States of America upon presentation and surrender of this Bond at the office of U.S. Bank Trust Company, National Association, (the "Trustee"). Interest on this Bond shall be paid by check of the Trustee mailed by first class mail, postage prepaid, or in certain circumstances described in the Indenture by wire transfer to an account within the United States, to the Registered Owner hereof as of the close of business on the first day of the month in which the Interest Payment Date occurs, whether or not such day is a business day (the "Record Date") at such Registered Owner's address as it appears on the registration books maintained by the Trustee. This Bond is one of a duly authorized issue of "Hawai`i County Community Facilities District No. 1-2021 (Kaloko Heights Project) Special Tax Revenue Bonds, Series 2022" (the "Bonds") issued in the aggregate principal amount of$ pursuant to Chapter 32, Hawai`i County Code 1983 (2016 Edition, as Amended) ("Chapter 32"), Ordinance No. 21-67 of the County enacted in accordance therewith, as amended (the "Ordinance of Formation") and Ordinance No. 22- 33 of the County (the "Bond Ordinance" and, together with Chapter 32 and the Ordinance of Formation, the "Authorizing Acts"). The Bonds are issued upon, and are subject to, the terms and conditions specified in that certain Trust Indenture dated as of , 2022 (the "Indenture"), by and between the County and the Trustee, and this reference incorporates the Indenture herein, and by acceptance hereof the Registered Owner of this Bond assents to said terms and conditions. The Indenture is adopted under and this Bond is issued under, and both are to be construed in accordance with,the laws of the County and the State of Hawai`i, including the Authorizing Acts. Pursuant to the Authorizing Acts and the Indenture, the principal of, premium, if any, and interest on this Bond are payable solely from annual Special Taxes authorized to be levied and collected within the District and certain other amounts pledged to the repayment of the Bonds as set forth in the Indenture. The County has covenanted for the benefit of the owners of the Bonds that under certain circumstances described in the Indenture it will commence and diligently pursue to completion appropriate foreclosure proceedings in the event of delinquencies of Special Taxes levied for payment of principal and interest on the Bonds. Subject to the further limitations set forth in the Indenture, the Bonds may be redeemed, at the option of the County from any source of funds on any Interest Payment Date, in whole, or in part in the order of maturity selected by the County and by lot within a maturity, at a redemption price equal to the principal amount thereof,together with accrued interest to the date of redemption. A-2