BIL 209 Draft 05 1996-1998 - Laserfiche WebLink

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SECTION 12. Bond or Note Insurance. The Director of Finance is authorized to determine and provide for any insurance provisions respecting the Bonds or the Notes as he shall deem to be in the best interest of the County, including, without limitation, selection of the bond insurer, payment of the insurance premium and printing of any insurance statement on the Bonds or the Notes. SECTION 13. Support Facility for Variable Rate Bonds. If the Director of Finance shall determine to issue the Bonds of a series or Notes beazing interest at a rate or rates which vary from time to time or with a right of holders to tender such Bonds or Notes for purchase, or both, the Director of Finance may contract for such support facility or facilities and remarketing arrangements as aze required to market the Bonds or Notes, to the greatest advantage of the County upon such terms and conditions as the Director of Finance deems necessary and proper; provided, however, that all such contracts shall be approved by a resolution of the County Council and shall comply with the requirements of Section 47-11, Hawaii Revised Statutes. SECTION 14. Authorization of Proceeds for Public Improvements. The proceeds from the issuance and sale of General Obligation Bonds of the County of Hawaii in the principal amount of $30,000,000 shall be used for the sole purpose of financing those public improvements authorized and set forth in this section and appropriated, or reappropriated, to the following departments for that purpose: DEPARTMENT OF PUBLIC WORKS Kaahikini Bridge Rehab Project Ord 98-50/98-108 $135,000 Kalopa/Mamalahoa Bridge Repl Ord 98-50 183,000 Opea/Mamalahoa Bridge Repl Ord 98-50 156,000 Mohouli Extension Ord 97-82/Pending App 2,000,000 Alii Drive Shoreline Protection Ord 97-114 97,000 Saddle Road/Kaumana Drive Curve Imprv. Ord 98-109 5~,~ Alenaio Channel ROW Acquis Ord 99-02 150,000 15