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COUNTY OF HAWAII STATE OF HAWAII '''':?ilsi.4*-7---. : RESOLUTION NO. 618 22 A RESOLUTION APPROVING THE ISSUANCE OF UP TO $14,425,000 AGGREGATE PRINCIPAL AMOUNT OF SPECIAL TAX REVENUE BONDS OF THE COUNTY OF HAWAII FOR THE COUNTY'S COMMUNITY FACILITIES DISTRICT NO. 1-2021 (KALOKO HEIGHTS PROJECT); AUTHORIZING THE APPLICATION OF THE PROCEEDS OF THE BONDS, TOGETHER WITH CERTAIN OTHER AVAILABLE FUNDS, TO FUND THE COSTS OF CERTAIN FACILITIES RELATING TO SUCH DISTRICT; APPROVING THE FORMS OF THE INDENTURE, PRELIMINARY OFFICIAL STATEMENT, BOND PURCHASE AGREEMENT AND CONTINUING DISCLOSURE AGREEMENTS RELATING TO THE BONDS; AND AUTHORIZING THE TAKING OF FURTHER ACTIONS RELATING TO THE BONDS AND THE DISTRICT WHEREAS, upon petition by RCFC Kaloko Heights, LLC, a Delaware limited liability company, Kaloko Heights BIA Holdings, LLC, a Delaware limited liability company, and Kaloko Heights Investors, LLC, a Delaware limited liability company (collectively,the "Petitioner"), the County has, pursuant to Chapter 32, Hawai`i County Code 1983 (2016 Edition, as Amended("Chapter 32," with all references herein to Articles and Sections, unless otherwise indicated, being intended to mean and refer to Articles and Sections within such Chapter) and Ordinance No. 21-67 (the "Ordinance of Formation"), established a community facilities district, designated as the "County of Hawai`i Community Facilities District No. 1-2021 (Kaloko Heights Project)" (the "District") for the purpose of financing the acquisition and construction of certain special improvements (as more fully described in the Ordinance of Formation, the "Improvements") and has further authorized the levy of a special tax on properties within the District pursuant to Chapter 32 (the "Special Tax"); and W _ "Bond pursuant to Ordinance No. 22 33 (the Ordinance ), the County has authorized the issuance of one or more series of special tax revenue bonds (including the Series 2022 Bonds referred to below, the "Bonds") in an aggregate principal amount not to exceed $22,000,000 (excluding Bonds issued to refund other Bonds previously issued), in order to provide funds (i) for payment of the costs of acquiring and constructing the Improvements (the "Project Costs") in accordance with a Project Funding and Acquisition Agreement (the"Project Funding Agreement") between the County, acting through its Director of Finance and Director of Environmental Management and the Petitioner, and (ii) 1