ORD 1997-045 1996-1998 - Laserfiche WebLink

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("Ordinance No. 96-68"), among other appropriations, $9,400,000 from the sale to the Department of Health of general obligation bonds of the County to the Qualified Wastewater Projects and for the purposes designated in said Ordinance No. 96-68; (ii) none of such appropriations has been satisfied from the sale of general obligation bonds of the County nor has the County authorized the issuance of general obligation bonds for such purpose; and (iii) there remains outstanding pursuant to Ordinance No. 96-68, $9,400,000 of appropriation for the sale of general obligation bonds of the County for the aforesaid purpose. SECTION 2. Authorization of Bonds. There are hereby authorized for issuance and sale general obligation bonds of the County (the "Bonds") in the maximum principal amount of $9,400,000, the proceeds derived from the sale of which shall be used to pay all or part of the cost of appropriations for the Qualified Wastewater Projects of the County to be financed from proceeds of general obligation bonds to be sold to the Department of Health made in Ordinance No. 96-68 for the fiscal year ending June 30, 1997, as follows: Ord. No. Proiect Amount 96-68 Pauka'a Community Collector Sewer $2,500,000 96-68 Waiakea Houselot Collector Sewer - Phase II $6,900,000 The proceeds derived from the sale of the Bonds may be used to reimburse the General Fund for funds theretofore borrowed pursuant to resolutions of the County Council to pay costs of certain appropriations made in Ordinance No. 96-68, as amended, to be financed from general obligation bond funds. SECTION 3. Details of Bonds. The Bonds authorized for issuance and sale in Section 2 hereof shall be issued and sold in their entirety at one time as a separate series of general obligation bonds of the County, or from time to time in series, all as shall be determined by the Director of Finance to be in the best interest of the County. The Bonds shall be issued in fully registered form -2-