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deem to be in the best interest of the County, including, without limitation, selection of the bond <br /> insurer, payment of the insurance premium and printing of any insurance statement on the Bonds. <br /> In the event that bond insurance is obtained by the purchaser of such Bonds, (a) such insurance <br /> shall not constitute a part of the contract by and with the County evidenced by a particular Bond <br /> or constitute a part of the proceedings providing for the issuance thereof, and (b) no liability or <br /> responsibility shall attach to the County or any officer or agent thereof in any way by reason of <br /> any such insurance, including, without limiting the foregoing, with respect to the procuring, <br /> maintenance, enforcement or collection thereof. The County shall be under no obligation to take <br /> or refrain from taking any action by reason of the existence of such insurance or any of the <br /> provisions thereof, even though the taking or refraining from taking of such action may result in <br /> or be cause for cancellation or cessation of such insurance. <br /> SECTION 12. Support Facility for Variable Rate Bonds. If the Director of <br /> Finance shall determine to issue the Bonds of a series bearing interest at a rate or rates which vary <br /> from time to time or with a right of holders to tender such Bonds for purchase, or both, the <br /> Director of Finance may contract for such support facility or facilities and remarketing <br /> arrangements as are required to market such Bonds to the greatest advantage of the County upon <br /> such terms and conditions as the Director of Finance deems necessary and proper; provided, <br /> however, that all such contracts shall be approved by a resolution of the County Council and shall <br /> comply with the requirements of Section 47-11, Hawaii Revised Statutes. <br /> SECTION 13. Reimbursement of Expenditures. The County expects that it <br /> may pay certain capital expenditures for the Project prior to the issuance of the Bonds or Notes <br /> authorized hereby, and reasonably expects to reimburse such expenditures from the proceeds <br /> of the Bonds or Notes. The County hereby declares its official intent to use proceeds of the <br /> Bonds or Notes to reimburse itself for future expenditures in connection with the Project. This <br /> ordinance is adopted in part for the purpose of establishing compliance with the requirements <br /> of Section 1.150-2 of the Treasury Regulations. This ordinance shall be reasonably available <br /> for inspection at the office of the County Clerk commencing within fifteen (15) days after its <br /> adoption by the Council. <br />