BIL 142 Draft 02 1996-1998 - Laserfiche WebLink

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-14 - SECTION 8. Security for the Bonds: Reimbursement to General Fund. The Bonds shall be issued for a public undertaking from which revenues are derived, to wit: for the Water System of the Department of Water Supply of the County. The Bonds are general obligations of the County, the full faith and credit of the County is hereby irrevocably pledged to the punctual payment of the principal of and interest on the Bonds according to the terms thereof, and the principal and interest payments on the Bonds shall be a first charge on and shall be paid from the General Fund of the County; provided, however, that the Director of Finance shall reimburse the General Fund for the payment of the principal of and interest on the Bonds from the revenues of the Water System, such reimbursement to be made in a manner consistent with the provisions of law. SECTION 9. CUSIP Identification Numbers. The Director of Finance may authorize the printing of CUSIP identification numbers upon the Bonds or the Notes. Such numbers and the printing thereof shall be subject in all respects to the provisions of Section 47- 10, Hawaii Revised Statutes, as amended. SECTION 10. Bond Insurance. The Director of Finance of the County, subject to applicable law, is hereby authorized to procure, determine and provide for any insurance provisions respecting the Bonds, or any portion thereof, as he shall determine to be in the best interest of the County, including without limitation, the selection of the bond insurer, the payment of insurance premium or related fees and the printing of any statement with respect to such insurance upon such Bonds. 180433.1 018896 ORD