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Indenture, upon surrender and cancellation of this Bond. Upon such transfer, a new registered Bond <br /> of authorized denomination or denominations for the same aggregate principal amount of the same <br /> issue and maturity will be issued to the transferee in exchange therefor. <br /> The Trustee shall not be required to register transfers or make exchanges of(i)any Bonds for <br /> a period of 15 days next preceding any selection of the Bonds to be redeemed, or (ii)any Bonds <br /> chosen for redemption. <br /> The rights and obligations of the County and of the registered owners of the Bonds may be <br /> amended at any time, and in certain cases without notice to or the consent of the registered owners,to <br /> the extent and upon the terms provided in the Indenture. <br /> THE BONDS DO NOT CONSTITUTE OBLIGATIONS OF THE COUNTY OF HAWAII <br /> FOR WHICH THE COUNTY OF HAWAII IS OBLIGATED TO LEVY OR PLEDGE, OR HAS <br /> LEVIED OR PLEDGED, GENERAL OR SPECIAL TAXES, OTHER THAN THE SPECIAL <br /> TAXES REFERENCED HEREIN. THE BONDS ARE LIMITED OBLIGATIONS OF THE <br /> COUNTY PAYABLE SOLELY FROM THE PORTION OF THE SPECIAL TAXES AND OTHER <br /> AMOUNTS PLEDGED UNDER THE INDENTURE BUT ARE NOT OTHERWISE A DEBT OF <br /> THE COUNTY OF HAWAII, THE STATE OF HAWAII OR ANY OF ITS POLITICAL <br /> SUBDIVISIONS WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY <br /> LIMITATION OR RESTRICTION. <br /> This Bond shall not become valid or obligatory for any purpose until the certificate of <br /> authentication and registration hereon endorsed shall have been dated and signed by the Trustee. <br /> IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts, conditions and <br /> things required by law to exist, happen and be performed precedent to and in the issuance of this <br /> Bond do exist, have happened and have been performed in due time, form and manner as required by <br /> law. <br /> IN WITNESS WHEREOF, the County of Hawai`i has caused this Bond to be dated as of the <br /> Dated Date, to be signed on behalf of the County by the Mayor of the County and the Director of <br /> Finance of the County, by their respective manual or facsimile signatures, and to be impressed with <br /> or to bear a facsimile of the Seal of the County. <br /> COUNTY OF HAWAII <br /> [SEAL] <br /> Mayor <br /> Director of Finance <br /> CERTIFICATE OF AUTHENTICATION <br /> A-4 <br />