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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 <br /> anticipation of the issuance and sale of the Bonds authorized herein and the receipt of the proceeds of <br /> the sale thereof, for the purposes for which the Bonds have been authorized herein. The issuance, sale <br /> and details of the Notes shall be governed by Section 47 -16, Hawaii Revised Statutes, as amended. <br /> Bonds in anticipation of which the Notes are authorized and issued hereunder may be issued and sold <br /> in accordance with the provisions of this Ordinance at any time within five years of the date of <br /> issuance of 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, <br /> and 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 <br /> authorize the printing of CUSIP identification numbers upon the Bonds. Such number and the printing <br /> thereof shall be subject in all respects to the provisions of Section 47 -10, Hawaii Revised Statutes, as <br /> 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 she shall deem <br /> to be in the best interest of the County, including, without limitation, selection of the bond insurer, <br /> payment of the insurance premium and printing of any insurance statement on the Bonds. In the event <br /> that bond insurance is obtained by the purchaser of such Bonds, (a) such insurance shall not constitute <br /> a part of the contract by and with the County evidenced by a particular Bond or constitute a part of the <br /> proceedings providing for the issuance thereof, and (b) no liability or responsibility shall attach to the <br /> County or any officer or agent thereof in any way by reason of any such insurance, including, without <br /> limiting the foregoing, with respect to the procuring, maintenance, enforcement or collection thereof. <br /> The County shall be under no obligation to take or refrain from taking any action by reason of the <br /> existence of such insurance or any of the provisions thereof, even though the taking or refraining from <br /> taking of such action may result in or be cause for cancellation or cessation of such insurance. <br /> 5 <br />