BIL 372 Draft 02 2006-2008 - Laserfiche WebLink

Home

COUNTY OF HAWAII STATE OF HAWAII BILL NO. ~ (Draft 2) ORDINANCE NO. TO AMEND ORDINANCE NO.Ol-118 OF THE COUNTY OF HAWAII, RELATING TO CERTAIN MATTERS CONCERNING THE COUNTY'S OUTSTANDING IMPROVEMENT DISTRICT NO. 17, KALOKO SUBDIVISION, 2001 SPECIAL ASSESSMENT REFUNDING BONDS. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI`L• SECTION 1. Findings and Determinations. The County Council of the County of Hawaii (the "County") hereby finds and determines that: (a) pursuant to Ordinance No. 01-118, as passed by the Council on December 5, 2001 and approved by the Mayor on December 17, 2001 (the "Ordinance"), the County has issued a series of special assessment bonds, designated as the County of Hawaii, Improvement District No. 17, Kaloko Subdivision, 2001 Special Assessment Refunding Bonds (the "Bonds"); (b) the Ordinance provides, among other things, for the appointment of a Bond Registrar and Paying Agent (as such terms are defined in the Ordinance) with respect to the Bonds; and (c) it is advisable; expedient and in the best interest of the County to amend certain provisions of the Ordinance relating to the Bond Registrar and Paying Agent so as to facilitate the orderly administration of matters relating to the Bonds. SECTION 2. Ordinance No. 01-118 of the County of Hawaii, State of Hawaii, is amended by amending Section 6.01 to read as follows: Section 6.01. Pang Agent and Bond Registrar. (a) Anpointrnent and Acceptance. The County hereby appoints Bank of Hawaii, acting through its Pacific Century Trust division, as Bond Registrar and Paying Agent for the Bonds hereunder. The Bond Registrar and Paying Agent shall accept such appointment in writing prior to the initial delivery of the Bonds.