BIL 142 Draft 02 1996-1998 - Laserfiche WebLink

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-13 - without any further authorization from or action by this Council but subject to the provisions hereof and of applicable law, the Director of Finance is hereby authorized to issue and sell the Bonds at one time, or from time to time in series, at negotiated sale to USDA in accordance with Section 47-5, Hawaii Revised Statutes, as amended, at such price or prices and upon such terms and conditions as he shall approve and determine to be in the best interest of the County. Without limiting the generality of the foregoing, with respect to the issuance and sale of the Bonds or of portions of the Bonds to secure the payment of the Loan from USDA, the Director of Finance is hereby authorized to retain bond counsel, paying agents, registrars and financial and accounting consultants, upon such terms and conditions as he shall deem advisable and in the best interest of the County, to select the date for such sale, to enter into one or more loan agreement with USDA pursuant to which the Loan shall be made and the Bonds or portions thereof shall be issued to secure the Loan, in each case in such form and containing such terms and conditions as he shall approve and deem advisable, and to distribute an Official Statement and such other information relating to the Bonds as he may deem advisable. Subject to the provisions of Section 3 hereof, without further action of this Council, the Bonds shall bear interest at the rates per annum as specified in the loan agreement or loan agreements approved. The Mayor, the Director of Finance and all officials of the County are hereby authorized to take such action and execute such orders, receipts and other documents as may be necessary in order to effectuate the sale of the Bonds or any portion thereof, and, if any loan agreement therefor be approved, the preparation, execution and delivery thereof, in accordance with the provisions hereof and applicable law. 180433.1 018896 ORO