BIL 222 Draft 01 2010-2012 - Laserfiche WebLink

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SECTION 13. Reimbursement of Expenditures. The County expects that it may pay certain capital expenditures for the Project prior to the issuance of the Bonds or Notes authorized hereby, and reasonably expects to reimburse such expenditures from the proceeds of the Bonds or Notes. The County hereby declares its official intent to use proceeds of the Bonds or Notes to reimburse itself for future expenditures in connection with the Project. This ordinance is adopted in part for the purpose of establishing compliance with the requirements of Section 1.150-2 of the Treasury Regulations. This ordinance shall be reasonably available for inspection at the office of the County Clerk commencing within fifteen (15) days after its adoption by the Council. SECTION 14. Repeal of Conflicts. All ordinances and resolutions, and any portions of ordinances and resolutions, heretofore enacted or adopted by the Council which are in conflict or inconsistent with any provision of this ordinance shall be and are hereby repealed to the extent of such conflict or inconsistency. SECTION 15. Severability. If any provision of this ordinance or application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this ordinance which can be given effect without the invalid provision or application, and to this end,the provisions of this ordinance are declared to be severable. SECTION 16. Effective Date. This ordinance shall take effect upon its approval. INTRODUCED BY: Ai/ _ _L EM.ER, COUNTY OF HAWAII , Hawai`i Date of Introduction Date of 1st Reading Date of 2nd Reading Effective Date: REFEkENCE: Comm. 652 6