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.oJttvosp ; <br /> \,�� �Jii <br /> II <br /> COUNTY OF HAWA �• ., � 5-,. ;':%r:* STATE OF HAWAII <br /> ..:•;:;.4;dF'µ�''': BILL NO. 83 <br /> (DRAFT 2) <br /> ORDINANCE NO. <br /> AN ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE <br /> COUNTY OF HAWAII FOR THE PURPOSE OF FUNDING ALL OR A PORTION OF THE COSTS <br /> OF VARIOUS IMPROVEMENT PROJECTS; FIXING THE FORM, DENOMINATIONS, AND <br /> CERTAIN OTHER DETAILS OF SUCH BONDS AND PROVIDING FOR THEIR SALE TO THE <br /> PUBLIC; AND AUTHORIZING THE TAKING OF OTHER ACTIONS RELATING TO THE <br /> ISSUANCE AND SALE OF THE BONDS. <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. Findings and Determinations. The County Council hereby determines and finds <br /> that the issuance, sale and delivery of general obligation bonds of the County in an aggregate principal amount <br /> not to exceed $14,500,000 (the "Bonds") for the purpose of funding all or a portion of the costs of the County <br /> Projects referred to in Section 2 hereof. <br /> SECTION 2. Authorization of Bonds. There are hereby authorized for issuance and sale,in one <br /> or more series,Bonds of the County,in an aggregate principal amount not to exceed$14,500,000,for the purpose <br /> of funding all or a portion of the costs(including costs of issuance of the Bonds)of public improvement projects <br /> of the County(collectively,the"Projects")authorized under Ordinance 17-40,being the capital budget ordinance <br /> of the County for the fiscal year ending June 30,2018, as heretofore or hereafter amended from time to time, or <br /> under the capital budget ordinance of the County for any prior or subsequent fiscal year. <br /> SECTION 3. Details of Bonds. The Bonds authorized for issuance and sale hereunder shall be <br /> issued and sold in one or more series, or as part of one or more series of other general obligation bonds of the <br /> County,all as shall be determined by the Director of Finance to be in the best interest of the County. The Bonds <br /> of a series shall be issued in fully registered form without coupons in the denomination of$5,000 or any integral <br /> multiple of$5,000, or in such other denominations as the Director of Finance shall determine. The Bonds of a <br /> series shall be numbered from 1 upwards in chronological order of delivery or shall be numbered in any other <br /> manner as the Director of Finance shall determine. The Bonds of a series shall mature annually on such day in <br /> each year in substantially equal installments of principal or in substantially equal installments of principal and <br />