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accordance with the applicable Notice of Sale, if any; provided that the Director of Finance may reserve die <br />right to reject any and all bids. Subject to the provisions of Section 3 hereof; without further action of the <br />Council the Bonds shall bear interest at the rates per annum as specified in the contract or contracts approved <br />or in the bid or bids accepted. The Director of Finance and all officials of the County are hereby authorized to <br />take such action and execute such orders, receipts and other documents as may be necessary in order to <br />effectuate the sale of the Bonds or any portion thereof, and, if any contract therefor be approved or any bid <br />Uiercfbr be accepted, the preparation, execution and delivery thereof, in accordance with the provisions hereof <br />and applicable law. <br />Subsequent to the sale of any of the Bonds, the Director of Finance shall report the results <br />of such sale to the County Council by letter. From and after the date the Director of Finance shall have <br />accepted a bid for u series of Bonds, or shall have entered into a negotiated contract for the sale and <br />purchase of a series of Bonds, the County Council will take no action to modify, supplement, amend or <br />repeal the provisions of this ordinance in a manner which would have an adverse effect on the ability of the <br />County to perform its obligations under such accepted bid or contract. <br />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 anticipation of <br />the issuance and sale of the Bonds authorized herein and the receipt of the proceeds of the sale thereof, for <br />the purposes for which the Bonds have been authorized herein. The issuance, sale and details of the Notes <br />shall be governed by Section 47-16, Hawaii Revised Statutes, as amended. Bonds in anticipation of which <br />the Notes are authorized and issued hereunder may be issued and sold in accordance with the provisions of <br />this Ordinance at any time within five years of the date of issuance of the first Notes issued in anticipation <br />of such Bonds. <br />SECTION 9. Security for the Bonds and the Notes. The full faith and credit of the County is <br />hereby pledged to the payment of the principal of and interest on the Bonds and the Notes, and the principal <br />and interest payments shall be a first charge on the General Fund of the County. <br />SECTION 10. CUSIP Identification Numbers. 'fhe Director of Finance may authorize the <br />printing of CUSIP identification numbers upon the Bonds. Such number and the printing [hereof shall be <br />subject in all respects to the provisions of Section 47-10, Hawaii Revised Statutes, as amended. <br />