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<br /> EXHIBIT A
<br /> Pbsirton 5
<br /> RU S BULLETIN 1780-27 APPROVED
<br /> 0ItB.No.0572-0121
<br /> L OAN RE SOLUTION
<br /> (Public Bodies)
<br /> ARESOLUTIONOFTHE COUNTY COUNCIL
<br /> OF THE COUNTYOF HAWArI
<br /> AUTHORIZING AND PROVIDING FOR THE INCURRENCE OF INDEB 112)NESS FOR THE PURPOSE OF PROVIDING A
<br /> PORTION OF THE COSTOF ACQUIRING, CONSTRUCTING,ENLARGING,IMPROVI1dG,AND/OR EXTENDING ITS
<br /> PUBLIC SEWER IMPROVEMENTS(LONO KONA SUBDIVISION PROJECT)
<br /> FACILITY TO SERVE AN AREA LAWFULLY WITHIN ITS JURISDICTION TO SERVE.
<br /> WHEREAS,it is recessaryforthe COUNTY OF HAWArI
<br /> (PaMc ma)')
<br /> (herein alter railed Association)to raise a portion of tie cast of suchundertakirg b y issuance of its bonds in tie principal annunt of
<br /> THREE ruIIWON SIX HUNDRED NINETY-NINE THOUSAND AND NO/100 DOLLARS($3,099,C00)
<br /> u
<br /> psant to tla provisions of PART 1,CHAPTER 47,HAWAII REVISED STATUTES ;and
<br /> WHEREAS,tha Associationirdenis to obtain ass istence fxomithe United States Department of Apiculture,
<br /> (Intern called tin Goverment)actirgunder tin provisions of the Consolidated Fanriani sralDevelopinant Act(7 US.C.1921
<br /> et seq.)in tin planning.finanirg,ani supervision ofsuchuniertaldrg ani the purchnasirg ofbonis lawfully issued,in the event
<br /> flmatrro other acceptable purchaser for suchb onis is found bytin Association_
<br /> NOW THEREFORE,in consideration of the premises tic Association hereby re olves:
<br /> 1. To have prepared on its behalf and to adopt an ordinance or res olution for foe issuance of it;is orris containirg such
<br /> items and insuchforms as are required by S tate statuses ani as are agreeable ani acceptable to the Government.
<br /> 2. To refinance tin unpaid balarce,inwhole or in part,ofits bonds upon the request of the Govenunen t if at any firm
<br /> it shall appear to the Government that the Ass ociation is able to refinance its bonds byobtainirg a loan for such purposes
<br /> front responsible cooperative or private sources at reasonab le rates and terms for loans for similar purposes and periods
<br /> of tune as required by s ecticer 333(c)of said Consolidated Fann and Rural Developrrerd Act(7 U.S.C.19E3(c)).
<br /> 3. To provide fo;execute,and oomplywithForm RD 400.4,'Assurance Agreement,"and Form RD 400-1,'Equal
<br /> Opportunity Agreement;"ixcludirg an"Equal Opportunity Clary e,"whir h rla„s a is to be incorporated in,or attached
<br /> as arider to,each construction contract and subcontract involvug in excess of$10,4JO.
<br /> 4. --T&inderutifytin-G}vexrnrent-feearpy-payarexts radeor-1 sses reclb}xtie-Gevenuntentonbehal€ tie•Associatiorr.
<br /> Suekinienrutifnealien 4rallbe-payable-fnzerr-the-sa m—seance-offiunis-pledged43-paythebexds-or,anyotierlegallyper-
<br /> -.nriss. le-source.S ee Rider A
<br /> 5. Thatupon default in tie pay rrerds of any principal and accrued inter ton the b anis or in tie performance of any
<br /> covenant oragreenerd contained herein orin the irsttunerds incident to m altirg or insuring tin loan,tin Government at •
<br /> its option may(a)declare the entire principal amount then cuts tending arra accrued irderes t immediately due and
<br /> payab le,(b)for the account of the As sociatinn(payab le from she source of funis pledged to pay the bonds or any other
<br /> legallypennnissrble source),Moir ani pay reason able expenses for repair,maintenance,and operation of tie facility
<br /> and such otherreasonable expenses as maybe recess aryto cure the rause of default,andfor(c)take possession of the
<br /> facility,repair,maintain,and operate or rend it.Default under the provisions of this resolution or any instrument incident to
<br /> the malting or insuring of the loan maybe construed by tie Govern/rent to constitute default under any other irstrunent
<br /> held by die Goverment and executed or assumed by tie As sociatior,ani default under any such irstrurrremt mayb e
<br /> CO215 trued by tie Govennuent to constitute default hereunder.
<br /> ii. Not to sell,team fez lease,or otherwise enurrb er the facility or any portion thereof,or interest therein,or permit others
<br /> to do so,without the prior written consent of the Govenurent.
<br /> 7. Not to defease the bonds,ortoborw,v nnarey,enter into any oordractor agneenerd,orotierwise in'urany liabilities
<br /> for any purpose incoraectionwithtin facility(exclusive of normal maintenance)withrut the priorwrittenconsent of the
<br /> Govenarend if suchundertaking would involve the swim of fiends pledged to pay the bonds.
<br /> S. To place the proceeds of tie b ands on deposit in an account and in a nraruuer approved by the Gover2mend.Funis/My be
<br /> deposited in institutions insured by the S tate or Federal Govenu end or invested in readily nerinetab le securities backed
<br /> by the full faith and credit of the United Stats.Anyincome from these aecaurris will be considered as revenues of the system.
<br /> 9. To oomplywith all applicable State arra Federal laxs and regulations and to continually operate ani maintain the facility
<br /> in good condition_
<br /> 10. To provide for the receipt of adequate revenues to neet the requirements of debt service,operation ani maintenance,and
<br /> the es tablislurerd of adequate res ernes.Revenue ac-urnrlated over and ab ore that needed to pay operatig ani mainte-
<br /> nance,debtservice and reserves rnayonlybe retained orused to make prepayments on the loan.Revenue caaurotbe used
<br /> to pay any expenses which are not directly i„-uned for the facility financed by USDA.No free service cruse of the
<br /> f cilitywillb a penuitted.
<br /> deco.-6,g.>7Me.Pa v,es-k.Reducr&e,ilea of 5947,an agene,rod,nix ern dueaernpe„sor,dad ape,aa, in required m 1.6pa4ao,de.loon,efS,famdakt,unS:ne
<br /> Ltd&pis a,a4d AMBera4d OMB eea oral nun a AN-Mar S,for,naie,eeet.rrea a dir7-Pl 7l. Oe se,,requlred.beempaem AS&S,fa,narS.
<br /> Osseeskm a exa„dead ao a,erdge 7 hour per respeax,S,eludS,g ass Lore Js.re,kwing S,r.+,.L,Y,a,sedrehs,g r at,g rant ssurcer,gdste.S,g and md,6a28,8,g a52
<br /> dad needed,an ea„p tiaing and re4ays,g ase ea ealo,of 5,l)nnaia,.
<br /> EXHIBIT A
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<br /> A-1 -
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