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SECTION 8. Authorization of Bond Anticipation Notes. General obligation bond <br /> anticipation notes are hereby authorized for issuance and sale by the Director of Finance in <br /> anticipation of the issuance and sale of the Bonds authorized herein and of the receipt of the <br /> proceeds of the sale thereof, for the purposes for which the Bonds have been authorized herein. <br /> The issuance, sale and details of the Notes shall be governed by the provisions of Section 47-16, <br /> Hawaii Revised Statutes, as amended. Bonds in anticipation of which the Notes are authorized <br /> and issued pursuant to this section may be issued and sold in accordance with the provisions of <br /> this ordinance at anytime within five years of the date of issuance of the first Notes issued in <br /> anticipation of such Bonds. <br /> SECTION 9. Security for the Bonds and the Notes. A portion of the Bonds and the Notes <br /> shall be allocated to and shall be issued for a public undertaking from which revenues are <br /> derived, to wit: for the Water System of the Department of Water Supply. The full faith and <br /> credit of the County is hereby pledged to the payment of the principal of and interest on the <br /> Bonds and the Notes, and the principal and interest payments shall be a first charge on the <br /> General Fund of the County; provided, however, that the General Fund of the County shall be <br /> reimbursed for the payment of the principal of and interest on the allocable portion of the Bonds <br /> and the Notes from the revenues of the Water System, such reimbursement to be made in a <br /> manner consistent with the provisions of law. The Director of Finance, in consultation with the <br /> <br /> Department of Water Supply, shall allocate the principal and interest payments on, and the costs <br /> of issuance of, the Bonds and Notes for purposes of determining reimbursements by the <br /> Department of Water Supply to the General Fund of the County. <br /> SECTION 10. CUSIP Identification Numbers. The Director of Finance may authorize <br /> the printing of CUSIP identification numbers upon the Bonds. Such number and the printing <br /> -6- <br /> <br />