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BIL 360 Draft 01 2006-2008
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BIL 360 Draft 01 2006-2008
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Entry Properties
Last modified
6/19/2009 11:04:29 AM
Creation date
8/29/2008 8:10:35 AM
Metadata
Fields
Template:
Bill/Resolution
Bill/Resolution - Type
BIL
Bill/Resolution - Council Term
2006-2008
Bill/Resolution
360
Draft
01
Introducer
Dominic Yagong, Councilmember; Chair Finance Committee
Referred To
FC
Action 1
FC-332: Recommends passagae of Bill 360 on first reading - 9/9/08
Action 2
Council: Bill 360 passes first reading; adopts FC-332 - 9/24/08
Action 3
Council: Bill 360 passes second & final reading - 10/08/08
Status
Adopted
Date To Mayor or Adoption Date
10/16/2008
Reading Number
1
Reading Date
9/24/2008
Ayes
8-Ford; Higa; Hoffmann; Ikeda; Jacobson; Naeole; Yagong; Yoshimoto
Noes
0
Absent
1-Pilago
Excused
0
Reading Number .
2
Reading Date .
10/8/2008
Ayes .
8-Ford; Hoffmann; Ikeda; Jacobson; Naeole; Pilago; Yagong; Yoshimoto
Noes .
0
Absent .
1-Higa
Excused .
0
Document Relationships
AGE COUNCIL 2008/09/24 2006-2008
(Related To)
Path:
\Council Records\Agendas\2006-2008\Council
AGE COUNCIL 2008/10/08 2006-2008
(Related To)
Path:
\Council Records\Agendas\2006-2008\Council
AGE FC 09/09/2008 2006-2008
(Related To)
Path:
\Council Records\Agendas\2006-2008\Finance Committee (FC)
ORD 2008-148 2006-2008
(Related To)
Path:
\Council Records\Ordinances\2008
REP FC 332 09/09/2008 2006-2008
(Related To)
Path:
\Council Records\Reports\2006-2008\Finance Committee (FC)
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accordance with the provisions of this Ordinance at any time within five years of the date of issuance of <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 charge 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. Tn 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. Support Facility for Variable Rate Bonds. If the Director of Finance <br />shall determine 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-I 1, Hawaii <br />Revised Statutes. <br />
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