HomeMy WebLinkAboutORD 1970-335BILL NO. 7y5
COUNTY OF HAWAII - STATE GF HAWAII
ORDINANCE N0. +~~`~
AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF GENERAL OBLIGATION
BONDS AND GENERAL OBLIGATION BOND ANTICIPATION NOTES OF THE COUNTY
OF HAWAII IN AN A:~OUNT NGT TO EXCEED THE MAXIMUM AUTHORIZED BY
APPRGPRIATIUN IN THE CAPITAL BUDGET ORDINANCE OF THE COUNTY OF HAWAII
FOR THE FISCAL YEAR ENDING JUNE ~0, 19'71,
BE IT ORDAINED -Y T}IE COUNCIL OF THE COUNTY GF HAWAII:
SECTION 1. General obligation bonds of the County of Hawaii
are hereby authorized for issuance and sale to a maximum principal.
amount equal to the aggregate of the amounts appropriated in the
Capital Budget Ordinance of the County of Hawaii for the fiscal year
ending June 30, 19'71,
SECTION<. The proceeds of the bonds herein authorized shall
be used to pay all or part of those appropriations for public
improvements of the County of Hawaii in the aforesaid Capital Budget
Ordinance.
SECTION 3, The Director of Finance is hereby authorized to fix
and determine the form, date, denominations, maturities and other
details of the bonds authorized herein and to issue and sell the same
in such amounts and at such times as may be deemed by him to be in the
best interest of the County of Hawaii, and to accept the best bids for
any issue of the bonds so authorized to be issued and sold,
SECTION 4, General obligation bond anticipation notes are hereby
authorized for issuance and sale by the Director of Finance in anticipation
of the issuance and sale of the general obligation bonds authorized
herein, The issuance and details of the notes shall be governed by the
provisions of Section 4~-2, Hawaii Revised Statutes, with respect to
bonds insofar as the same may be applicable, provided that (1) each
note, together with all renewals and extensions thereof, or refundings
thereof by other notes issued under this section, shall mature within
five years from the date of the original note; (2~ the notes may be
sold at public or private sale as the Director of Finance may determine;
(3) all signatures upon the notes may be manual signatures; and (4) the
interest on the notes shall be paid from the general fund of the
County issuing same and the principal thereof from the. proceeds of
sale of the bonds in anticipation of which the notes have been issued
or from any money in the general fund available therefor. To the extent
that the principal of the notes shall be paid from moneys other than the
proceeds of sale of such bonds, the maximum amount of bonds in anticipation
of which the notes are issued that has been authorized shall be reduced
by the amount of notes paid in such manner.
SECTION 5, This Ordinance shall take effect upon its approval.
INTRODUCED BY:
i _-
,: _ _.
Councilman, County of Hawai'
Hilo, Hawaii_
Date of Introduction:
Date of Adoption:
Effective Date:
August 12, 1970
August 26, 1970
September 3, 1970
APPROVED AS TO FURP4
AND LEGALITY:
-,. ,...
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Corporation Counsel
2 _
BILL N0. 725
Hilo, Hawaii
Date of Introductions
Date of Adoptions
August 12, 1970
August 26, 1970
First Readin
AYES NOES E
Car enter X
De Luz X
Edwards X
Greenwell X
Mata oshi X
Souza X
Yadao X
Yamada X
Chr Hisaoka X
8 0 1
Publication Dates August 19, 1970
Second 8 Final Reading
AYES NOES E
Ca enter x
De Luz x
Edwards x
Greenwell x
Mata oshi x
Souza x
Yadao x
Yamada x
Chr Hisaoka x
8 0 1
Publication Dates September 10, 1970
We do hereby certify that the foregoing BILL was adopted by the County Council
and published as indicated above.
~~ - ~,~
s,
Counci Chairman
~ ~~
County Clerk
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`775 - 788 - 8~8
Ai.iC z~ ~ ig ra
:_ ____ _.
Approved/HtsapCrre~red this ~~=~ day of