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registrar for such series for safekeeping prior to the time such Bonds are actually issued, exchanged or <br /> transferred. The Director of Finance shall direct the registrar for the Bonds of a series to register and <br /> authenticate such Bonds and no such Bond shall be valid or obligatory for any purpose unless and until <br /> the certificate of authentication endorsed on such Bond shall have been manually executed by such <br /> registrar;provided that a certificate of authentication shall not be required for any Bond is the Director of <br /> Finance is the registrar and if such Director has manually signed the Bond in question. <br /> The Bonds of a series shall be designated and the form of such Bonds, including the <br /> registrar's certificate of authentication (if required) and the assignment, shall be substantially in the form <br /> of general obligation bonds heretofore issued by the County with such insertions,variations and omissions <br /> as are required with respect to a particular series of the Bonds, book-entry provisions, variable rate <br /> provisions or other provisions as the Director of Finance may determine. <br /> SECTION 7. Sale of Bonds. Without any further authorization from or action by the <br /> Council but subject to the provisions hereof and of applicable law, the Director of Finance is hereby <br /> authorized to issue and sell the Bonds in their entirety at one time, or from time to time in two or more <br /> separate series, or as part of a series of other general obligation bonds of the County, at competitive sale <br /> or at negotiated sale to qualified purchasers in accordance with Section 47-8, Hawai`i Revised Statutes, <br /> as amended, in each case at such price or prices and upon such terms and conditions as he shall approve <br /> and determine to be in the best interest of the County. Without limiting the generality of the foregoing, <br /> with respect to the sale of the Bonds or of portions of the Bonds, the Director of Finance is hereby <br /> authorized to retain bond counsel,paying agents,registrars and financial and accounting consultants,upon <br /> such terms and conditions as he shall deem advisable, to select the date for such sale, to publish and <br /> distribute a Notice of Sale or to enter into a negotiated contract for the sale of the Bonds or portions thereof, <br /> in each case in such form and containing such terms and conditions as he shall approve and deem <br /> advisable, to distribute an Official Statement and such other information relating to the County and the <br /> Bonds as he may deem advisable, to receive bids for the sale of the Bonds or the portion thereof being <br /> offered and to award the sale of the Bonds or the portion thereof being offered to the bidder offering the <br /> lowest interest cost therefor, in accordance with the applicable Notice of Sale, if any; provided that the <br /> Director of Finance may reserve the right to reject any and all bids. Subject to the provisions of Section 3 <br /> hereof, without further action of the Council, the Bonds shall bear interest at the rates per annum as <br /> specified in the contract or contracts approved or in the bid or bids accepted. The Director of Finance and <br /> all officials of the County are hereby authorized to take such action and execute such orders, receipts and <br /> 4 <br />