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<br /> <br /> <br /> <br /> <br /> Bonds. The Director of Finance may prepare such number of blank Bonds of any series executed and sealed as <br /> <br /> aforesaid as he shall determine and deliver such executed blank Bonds to the registrar for such series fbr <br /> safekeeping prior to the time such Bonds are actually issued, exchanged or transferred. The Director of Finance <br /> <br /> shall direct the registrar for the Bonds of a series to register and authenticate such Bonds and no such Bond shall <br /> be valid or obligatory for any purpose unless and until the certificate of authentication endorsed on such Bond <br /> <br /> shall have been manually executed by such registrar; provided that a certificate of authentication shall not be <br /> required for any Bond if the Director of Finance is the registrar and if such Director has manually signed the <br /> Bond in question. <br /> <br /> <br /> <br /> The Bonds of a series shall be designated and the form of such Bonds, including the <br /> registrar's certificate of authentication (if required) and the assignment, shall be substantially in the form <br /> <br /> of general obligation bonds heretofore issued by the County with such insertions, variations and <br /> omissions as are required with respect to a particular series of the Bonds, book-entry provisions, variable <br /> <br /> rate provisions or other provisions as the Director of Finance may determine. <br /> <br /> <br /> SECTION 7. Sale of Bonds. Without any further authorization from or action by the County <br /> <br /> Council, but subject to the provisions hereof and of applicable law, the Director of Finance is hereby authorized <br /> to issue and sell the Bonds in their entirety at one time, or from time to time in two or more separate series, or as <br /> pail of a series of other general obligation bonds of the County, at competitive sale or at negotiated sale or <br /> <br /> placement to qualified purchasers in accordance with Section 47-8, Hawaii Revised Statutes, as amended, in <br /> each case at such price or prices and upon such terms and conditions as he shall approve and determine to be in <br /> <br /> the best interest of the County. Without limiting the generality of the foregoing, with respect to the sale of the <br /> Bonds or of portions of the Bonds, the Director of Finance is hereby authorized to retain bond counsel, paying <br /> agents, registrars and financial and accounting consultants, upon such terms and conditions as he shall deem <br /> <br /> advisable, to select the date for such sale, to publish and distribute a Notice of Sale or to enter into a negotiated <br /> contract for the sale of the Bonds or portions thereof, in each case in such form and containing such terms and <br /> <br /> conditions as he shall approve and deem advisable, to distribute an Official Statement (or other offering <br /> document, as applicable) and such other information relating to the County and the Bonds as he may deem <br /> advisable, to receive bids for the sale of the Bonds or the portion thereof being offered and to award the sale of' <br /> <br /> the Bonds or the portion thereof being offered to the bidder offering the lowest interest cost therefor, in <br /> accordance with the applicable Notice of Sale, if any; provided that the Director of Finance may reserve the right <br /> <br /> to reject any and all bids. Subject to the provisions of Section 3 hereof, without further action of the Council, the <br /> Bonds shall bear interest at the rates per annum as specified in the contract or contracts approved or in the bid or <br /> <br /> <br /> 4 <br />