ORD 2025-065 2024-2026 - Laserfiche WebLink

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due hereunder shall be payable in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts. As used in this Bond: (a) "Aggregate Funding Percentage" shall mean the percentage that is obtained by dividing (i) the total amount of all Loan Advances actually funded by USDA and received by the County, by (ii) the amount of $275,000.00 representing the maximum amount of the Loan Advances USDA has agreed to make to the County hereunder; (b) "Loan" shall mean the loan, in an amount not to exceed $275,000.00, that USDA has agreed to make to the County hereunder to pay a portion of the costs of a public water system project to serve Iki Place, Kohanaiki Homesteads; -and (c) "Loan Advance" shall mean each portion of the Loan funded by USDA and received by the County, as set forth in the Record of Advances contained herein. This Bond is authorized by the County to be issued to evidence the County's payment obligations with respect to the Loan from USDA to finance the aforesaid public water system project. This Bond is issued under and pursuant to and in full compliance with the Constitution and laws of the State of Hawaii, including Part I of Chapter 47, Hawaii Revised Statutes, as amended, the Charter of the County, proceedings of the aforesaid Council duly taken thereunder and a Certificate of the Director of Finance of the County providing for the issuance and sale and fixing the form and details of this Bond (the "Authorizing Certificate"). Reference is hereby made to the Authorizing Certificate for additional provisions applicable to this Bond, to all of which provisions the registered owner hereof by acceptance of this Bond hereby assents. This Bond is subject to redemption in whole or in part at the option of the County, prior to maturity, at any time at the principal amount thereof and the interest accrued thereon to the date fixed for redemption. In the event this Bond is redeemable, as aforesaid, and shall be called for redemption, notice of the redemption hereof stating the designation, date, number and maturity of this Bond, the portion of the principal sum hereof to be redeemed, the date fixed for such redemption and the premium payable upon such redemption, shall be mailed, at least once not less than thirty (30) days prior to the date fixed for the redemption hereof, to the holder hereof in whose name this Bond is registered upon the. Bond Register as of the close of business on the forty-fifth (45th) day (whether or not a business day) next preceding the date fixed for the redemption hereof. The failure of the Registered Holder hereof to receive such notice by mail or any defect in such notice shall not affect the sufficiency of the proceedings for the redemption of this Bond. If less than all of the principal sum hereof is to be redeemed, in such case upon the surrender of this Bond to the Registrar there shall be issued to the Registered Holder hereof, without charge therefor, a new Bond for the then unredeemed balance of the principal sum hereof. If this Bond (or any portion of the principal sum hereof) be redeemable and shall have been duly called for redemption_ and notice of such redemption duly given as aforesaid, and if on or before the date fixed for such redemption payment of the principal sum hereof to be redeemed, the premium payable upon such redemption and the interest accrued on the principal sum to be redeemed to the date fixed for such redemption shall have been duly made or provided for, then this Bond (or the portion of the principal sum hereof to be redeemed) shall become due and payable upon such date fixed for redemption and interest shall cease to accrue and become payable from and after the date fixed for such redemption on the principal sum hereof to be redeemed. A-2