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JMSV OF,,,,,,., <br /> NII�/Ql <br /> COUNTY OF HAWAII -.;,�� ,� � /, :.', STATE OF HAWAII <br /> )4;..o..N;�►`'•" 156 <br /> BILL NO. <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 $61,000,000 (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 /> $61,000,000, for the purpose of funding all or a portion of the costs (including costs of issuance of the <br /> Bonds) of the public improvement projects authorized and set forth in Exhibit A. <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 /> Director of Finance shall determine. The Bonds of a series shall be numbered from 1 upwards in <br /> chronological order of delivery or shall be numbered in any other manner as the Director of Finance <br /> shall determine. The Bonds of a series shall mature annually on such day in each year in substantially <br /> equal installments of principal or in substantially equal installments of principal and interest, the first <br />