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SECTION 12. Support Facility for Variable Rate Bonds. If the Director of Finance shall <br /> determine to issue the Bonds of a series bearing interest at a rate or rates which vary from time to time or with <br /> a right of holders to tender such Bonds for purchase, or both,the Director of Finance may contract for such <br /> support facility or facilities and remarketing arrangements as are required to market such Bonds to the greatest <br /> advantage of the County upon such terms and conditions as the Director of Finance deems necessary and <br /> proper;provided,however,that all such contracts shall be approved by a resolution of the County Council and <br /> shall comply with the requirements of Section 47-11, Hawaii Revised Statutes. <br /> 3 <br /> SECTION 13. Reimbursement of Expenditures. The County expects that it may pay <br /> certain capital expenditures for the Projects prior to the issuance of the Bonds or Notes authorized hereby, <br /> and reasonably expects to reimburse such expenditures from the proceeds of the Bonds or Notes. The <br /> County hereby declares its official intent to use proceeds of the Bonds or Notes to reimburse itself for <br /> future expenditures in connection with such Projects. This ordinance is adopted in part for the purpose of <br /> 3 <br /> establishing compliance with the requirements of Section 1.150-2 of the Treasury Regulations. This <br /> 3 <br /> ordinance shall be reasonably available for inspection at the office of the County Clerk, located at 25 3 <br /> Aupuni Street, Room 1402, Milo Hawaii 46720, commencing within fifteen (15) days after its adoption by 3 <br /> the Council. <br /> I <br /> SECTION 14. Repeal of Conflicts. All ordinances and resolutions,and any portions of <br /> ordinances and resolutions,heretofore enacted or adopted by the Council which are in conflict or inconsistent <br /> with any provision of this ordinance shall be and are hereby repealed to the extent of such conflict or <br /> inconsistency. <br /> 3 <br /> I <br /> I <br /> SECTION 15. Severability. If any provision of this ordinance or application thereof to any <br /> I <br /> person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this I <br /> ordinance which can be given effect without the invalid provision or application,and to this end,the provisions <br /> of this ordinance are declared to be severable. <br /> I <br /> I <br /> E <br /> s <br /> 3 <br /> 6 <br />