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[FORM OF BOND] <br /> "(Vignette) <br /> UNITED STATES OF AMERICA <br /> COUNTY OF HAWAII <br /> STATE OF HAWAII <br /> GENERAL OBLIGATION BOND <br /> SERIES <br /> (Number) <br /> INTEREST MATURITY DATE OF <br /> RATE: DATE: BOND: CUSIP: <br /> REGISTERED HOLDER' <br /> PRINCIPAL SUM: DOLLARS <br /> The COUNTY OF HAWAII, State of Hawaii (the "County"), for value received, hereby <br /> promises to pay the Registered Holder (named above), or registered assigns, on the Maturity <br /> Date (specified above) (unless this bond shall be subject to prior redemption and shall have <br /> <br /> theretofore been duly called for prior redemption and payment of the redemption price duly made <br /> <br /> or provided for), the Principal Sum (specified above), and to pay interest on such Principal Sum <br /> semiannually on and on of each year, commencing on <br /> (each such date is hereinafter referred to as an "interest payment <br /> <br /> date"), from the date hereof or from the interest payment date next preceding the date of <br /> registration hereof to which interest shall have been paid, unless such date of registration is an <br /> interest payment date, in which case, from such interest payment date, or unless such date of <br /> registration is within the period from the sixteenth (16th) day to the last day of the calendar month <br /> next preceding the following interest date, in which case from such following interest payment <br /> date, such interest to be paid until the maturity or redemption hereof at the Interest Rate <br /> (specified above) per annum, by check mailed by the Paying Agent hereinafter mentioned to the <br /> holder hereof in whose name this bond is registered upon the Bond Register as of the close of <br /> business on the fifteenth (15th) day (whether or not a business day) of the calendar month next <br /> preceding each interest payment date at his address as it appears on the Bond Register <br /> 5 <br /> <br />