BIL 132 Draft 01 2020-2022 - Laserfiche WebLink

Home

4opNt.r.OF h,.,, COUNTY OF HAWAII -•f es.S,,::01. STATE OF HAWAII ' OF BILL NO. 132 •• N►' •• ORDINANCE NO. AN ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE COUNTY OF HAWAII FOR THE PURPOSE OF FUNDING ALL OR A PORTION OF THE COSTS OF VARIOUS IMPROVEMENT PROJECTS; FIXING THE FORM, DENOMINATIONS, AND CERTAIN OTHER DETAILS OF SUCH BONDS AND PROVIDING FOR THEIR SALE TO THE PUBLIC; AND AUTHORIZING THE TAKING OF OTHER ACTIONS RELATING TO THE ISSUANCE AND SALE OF THE BONDS. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: SECTION 1. Findings and Determinations. The County Council hereby determines and finds that the issuance, sale and delivery of general obligation bonds of the County in an aggregate principal amount not to exceed$139,500,000 (the"Bonds") for the purpose of funding all or a portion of the costs of the County Projects referred to in Section 2 hereof. SECTION 2. Authorization of Bonds. There are hereby authorized for issuance and sale,in one or more series, Bonds of the County, in an aggregate principal amount not to exceed $139,500,000, for the purpose of funding all or a portion of the costs(including costs of issuance of the Bonds)of public improvement projects of the County (collectively,the"Projects") authorized under Ordinance 21-39,being the capital budget ordinance of the County for the fiscal year ending June 30, 2022, as heretofore or hereafter amended from time to time, or under the capital budget ordinance of the County for any prior or subsequent fiscal year. SECTION 3. Details of Bonds. The Bonds authorized for issuance and sale hereunder shall be issued and sold in one or more series, or as part of one or more series of other general obligation bonds of the County, all as shall be determined by the Director of Finance to be in the best interest of the County. The Bonds of a series shall be issued in fully registered form without coupons in the denomination of$5,000 or any integral multiple of$5,000, or in such other denominations as the Director of Finance shall determine. The Bonds of a series shall be numbered from 1 upwards in chronological order of delivery or shall be numbered in any other manner as the Director of Finance shall determine. The Bonds of a series shall mature annually on such day in each year in substantially a ual installments of principal or in substantially equal installments of principal and