Laserfiche WebLink
anticipation of which the Notes are authorized and issued hereunder may be issued and sold in <br /> <br /> accordance with the provisions of this Ordinance at any time within five years of the date of issuance of <br /> <br /> the first Notes issued in anticipation of such Bonds. <br /> SECTION 9. Security for the Bonds and the Notes. The full faith and credit of the <br /> County is hereby pledged to the payment of the principal of and interest on the Bonds and the Notes, and <br /> the principal and interest payments shall be a first chazge on 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 thereof <br /> shall be subject in all respects to the provisions of Section 47-10, Hawaii Revised Statutes, as amended. <br /> SECTION 11. Bond Insurance. The Director of Finance is hereby authorized to <br /> determine and provide For any insurance provisions respecting the Bonds of a series as he shall deem to <br /> be in the best interest of the County, including, without limitation, selection of the bond insurer, payment <br /> of the insurance premium and printing of any insurance statement on the Bonds. In the event that bond <br /> insurance is obtained by the purchaser of such Bonds, (a) such insurance shall not constitute a part of the <br /> contract by and with the County evidenced by a particular Bond or constitute a part of the proceedings <br /> providing for the issuance thereof, and (b) no liability or responsibility shall attach to the County or any <br /> officer or agent thereof in any way by reason of any such insurance, including, without limiting the <br /> foregoing, with respect to the procuring, maintenance, enforcement or collection thereof. The County <br /> shall be under no obligation to take or refrain from taking any action by reason of the existence of such <br /> insurance or any of the provisions thereof, even though the taking or refraining from taking of such <br /> action may result in or be cause for cancellation or cessation of such insurance. <br /> SECTION 12. Sunnort Facility for Variable Rate Bonds. If the Director of Finance <br /> shall detemune to issue the Bonds of a series bearing interest at a rate or rates which vary from time to <br /> time or with a right of holders to tender such Bonds for purchase, or both, the Director of Finance may <br /> contract for such support facility or facilities and remarketing arrangements as are required to market <br /> such Bonds to the greatest advantage of the County upon such terms and conditions as the Director of <br /> Finance deems necessary and proper; provided, however, that all such contracts shall be approved by a <br /> resolution of the County Council and shall comply with the requirements of Section 47-11, Hawaii <br /> Revised Statutes. <br /> 5 <br /> <br />