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4. <br /> COUNTY OF HAWAII 1.3 ..''!°,0:.1 STATE OF HAWAII <br /> 44 oF BILL NO. 311 <br /> ORDINANCE NO. <br /> AN ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS <br /> OF THE COUNTY OF HAWAII FOR THE PURPOSE OF FUNDING ALL OR A PORTION <br /> OF THE COSTS OF VARIOUS PUBLIC IMPROVEMENT PROJECTS; FIXING THE <br /> FORM, DENOMINATIONS, AND CERTAIN OTHER DETAILS OF SUCH BONDS AND <br /> PROVIDING FOR THEIR SALE TO THE PUBLIC; AND AUTHORIZING THE TAKING OF <br /> OTHER ACTIONS RELATING TO THE ISSUANCE AND SALE OF THE BONDS. <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. Findings and Determinations. The County Council hereby determines <br /> sale and delivery of general obligation bonds of the County in an aggregate principal amount not to <br /> exceed $56,000,000 (the "Bonds ") for the purpose of funding all or a portion of the costs of the <br /> County Projects referred to in Section 2 hereof. <br /> SECTION 2. Authorization of Bonds. There are hereby authorized for issuance and <br /> sale, in one or more series, Bonds of the County, in an aggregate principal amount not to exceed <br /> $56,000,000, for the purpose of funding all or a portion of the costs (including costs of issuance of the <br /> Bonds) of public improvement projects of the County (the "County Projects ") authorized under <br /> Ordinance Nos. 08 -79, 09 -65 and 10 -60, being the capital budget ordinances of the County for the <br /> fiscal years ending June 30, 2009, June 30, 2010 and June 30,2011, as heretofore or hereafter <br /> amended from time to time, or under the capital budget ordinance of the County for any subsequent <br /> fiscal year. <br /> SECTION 3. Details of Bonds. The Bonds authorized for issuance and sale <br /> hereunder shall be issued and sold in one or more or as part of a series of other general obligation <br /> bonds of the County, all as shall be determined by the Director of Finance to be in the best interest of <br /> the County. The Bonds of a series shall be issued in fully registered form without coupons in the <br /> denomination of $5,000 or any integral multiple of $5,000, or in such other denominations as the <br />