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13 - <br />hereof and of applicable law, the Director of Finance is hereby authorized to issue and sell the <br />Bonds at one time, or from time to time in series, at negotiated sale to USDA in accordance <br />with Section 47-8, Hawaii Revised Statutes, as amended, at such price or prices and upon such <br />terms and conditions as he shall approve and determine to be in the best interest of the County. <br />Without limiting the generality of the foregoing, with respect to the issuance and sale of the <br />Bonds or of portions of the Bonds to secure the payment of the Loan from USDA, the Director <br />of Finance is hereby authorized to retain bond counsel, paying agents, registrars and financial <br />and accounting consultants, upon such terms and conditions as he shall deem advisable and in <br />the best interest of the County, to select the date for such sale, to enter into one or more loan <br />agreement with USDA pursuant to which the Loan shall be made and the Bonds or portions <br />thereof shall be issued to secure the Loan, in each case in such form and containing such terms <br />and conditions as he shall approve and deem advisable, and to distribute an Official Statement <br />and such other information relating to the Bonds as he may deem advisable. Subject to the <br />provisions of Section 3 hereof, without further action of this Council, the Bonds shall bear <br />interest at the rates per annum as specified in the loan agreement or loan agreements approved. <br />The Mayor, the Director of Finance and all officials of the County are hereby authorized to take <br />such action and execute such orders, receipts and other documents as may be necessary in order <br />to effectuate the sale of the Bonds or any portion thereof, and, if any loan agreement therefor <br />be approved, the preparation, execution and delivery thereof, in accordance with the provisions <br />hereof and applicable law. <br />180433.1 019896 ORD <br />