BIL 209 Draft 03 1996-1998 - Laserfiche WebLink

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COUNTY OF HAWAII STATE OF HAWAII BELL NO. 209 Draft 3 ORDINANCE NO. AN ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE COUNTY OF HAWAII FOR THE PURPOSE OF FINANCING VARIOUS PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAII; FIXING THE FORM, DENOMINATIONS, AND CERTAIN OTHER DETAILS OF SUCH BONDS AND PROVIDING FOR THEIR SALE; AND AUTHORIZING THE ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE AND SALE OF SUCH BONDS AND APPROPRIATING FUNDS FOR THE COSTS OF THE ISSUANCE OF SUCH BONDS. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: SECTION 1. Findings and Determinations. It is hereby found and determined that appropriations for public improvement projects of the County of Hawaii, Hawaii to be financed from general obligation bond funds have been made in Ordinance No. 96-68, as amended, Ordinance No. 97-82, as amended, and Ordinance No. 98-50, as amended, for the fiscal years ending June 30, 1997, June 30, 1998, and June 30, 1999, respectively. It is hereby further found and determined that it is advisable and in the best interest of the County to authorize the issuance and sale of general obligation bonds of the County in the maximum principal amount of $30,000,000, the proceeds derived from the sale of which shall be used to pay all or a part of the costs of appropriations referred to above and to pay all or a part of the costs of issuance of such bonds. 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