BIL 248 Draft 01 1996-1998 - Laserfiche WebLink

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July 1, 1997, as amended ("Ordinance Nos. 96-68 and 97-82"), among other appropriations, $9,000,000 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 Nos. 96-68 and 97-82; (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 Nos. 96-68 and 97-82, $9,000,000 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 $9,000,000, 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 Nos. 96-68 and 97-82 for the fiscal years ending June 30, 1997, and June 30, 1998, as follows: Ord. No. Proiect 96-68 Paukaa Community Collector Sewer 96-68 Kalanianaole Collector Sewer, Phase II 97-82 Kaumana Gardens Collector Sewer Amount $2,000,000 $3,000,000 $4,000,000 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 Nos. 96-68 and 97-82, 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 -2-