HomeMy WebLinkAboutORD 1973-0068;,, o. ~
COUNTY OF HAWAII - STATE OF HAWAII
ORDINANCE NO. ¢;
AN ORDINANCE AUTHORIZING THE; ISSUANCE OF $5,000,000 GENERAL
OBLIGATION BONDS OF THE COUDJTY OF HAWAII FOR THE PURPOSE OF
FINANCING VARIOUS PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAII:
FIXING TAE FORM AND DETAILS OF SUCH BONDS, AND PROVIDING FOR THEIR
SALE; AND AUTHORIZING THE ISSUANCE AND SALE OF A LIKE PRINCIPAL
AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES IN ANTICIPA-
TION OF THE ISSUANCE AND SAhE OF SAID BONDS.
BE IT ORDAINED BY THE COUDICIL OF THE COUNTY OF HAWAII:
SECTION 1. There are hereby authorized for issuance and
sale general obligation bonds of the County of Hawaii in the
principal amount of $5,000,000, the proceeds derived from the
sale of which shall be used to pay all or part of the cost of
appropriations for various public improvements of the County to
be financed from. general obligation bond funds made (a) in the
capital budget ordinance for the fiscal year ending June 30, 1970,
(Ordinance No. 235, as amended); (b) in the capital budget ordi-
nance for the fiscal year ending June 30, 1971, (Ordinance No.
327, as amended); (c) in the capital budget ordinance for the
fiscal year ending June 30, 1972, (Ordinance No. 409, as amended);
(d) in the capital budget ordinance for the fiscal year ending
June 30, 1973, (Ordinance No. 475, as amended), and (e) in the
capital budget ordinance for the fiscal year ending June 30, 1974,
(Ordinance No. °_.86, as amended).
SECTION 2. The general obligation bonds authorized for
issuance and sale in Section 1 hereof shall be designated "Public
Improvement Bonds, 1974 Series A" (hereinafter referred to as the
"Bonds"). The Fronds shall be dated February 1, 1974; shall be
issued in bearer form with coupons attached and without privilege
of registration; shall be in the denomination of $5,000 each;
shall be numbered from 1 to 1,000 inclusive; and shall mature
serially in numerical order. in the principal amount of $280,000
on February 1 in each of the years 1977 to 1986, inclusive, and
in the principal amount of $275,000 on February 1 in each of
the years 1987 to 1994, inclusive. The Bonds shall bear interest
at such rate or rates per. annum, not exceeding seven per centum
(7~) per annum, as shall be specified in the bid accepted. for
the purchase of the Bonds, if any bid therefor be accepted, such
interest being payable semi-annually on August 1 and February 1
of each year, commencing with August 1, 1974. Both principal of
and interest on the Bonds shall be payable at the office of the
Director of Finance of the County of Hawaii, Hilo, Hawaii, or at
the option of the holder thereof, at such place in the City of
New York, New York, and at such place in the City of San Francisco,
California, as th.e Director of Finance shall determine. The Bonds
maturing on and after February 1, 1985, shall be subject to
redemption at they option of the County of Hawaii on and after
February 1, 1984, in whole at any time, and in part from time to
time on any interest payment date and in inverse order of maturi-
ties and by lot urithin a maturity, at the principal amount thereof,
the interest accrued to the redemption date, and the following
redemption premicims: 3~ if redeemed February 1, 1984, and to and
including January 31, 1986; 2~ if redeemed thereafter and to and
including Januar}~ 31, 1988; 1~ if redeemed thereafter an<i to and
including January 31, 1990; and no premium if redeemed thereafter.
At least thirty days' notice of redemption will be published in
The Daily Bond Buyer or other financial paper published in either
of the cities of New York, Ydew York, or San Francisco, California.
SECTION 3. The Bonds shall be signed by the Director of
Finance or a Deputy Director of Finance and shall bear the
lithographed or engraved facsimile signature of the Mayor of
the County of Hawaii and shall be sealed with the seal or a
lithographed or engraved facsimile seal of the County of Hawaii.
The interest coupons pertaining to the Bonds shall bear the
lithographed or engraved facsimile of the signature of the
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Director of Finance of the County of Hawaii. The Bonds and the
coupons attached. thereto shall be in substantially the following
form:
UNITED STATES OF AMERICA
STATE OF HAWAII
COUNTY OF HAWAII
PUBLIC IMPROVEMENT BOND, 1974 SERIES A
No. $5,000
The County of Hawaii, State of Hawaii, for value received
hereby promises to pay to bearer the sum of Five Thousand Dollars
($5,000) on the 1st day of February, 19 upon presentation
and surrender of this Bond, and to pay interest on said sum from
the date hereof until payment of said sum in full at the rate
of
per centum ( ~) per annum, payable semi-
annually on the first day of August and February in each year,
such interest to the maturity hereof being payable only upon
presentation and surrender of the interest coupons hereto attached
as they severally become' due. Both the principal of and interest
on this bond area payable at the office of the Director of Finance
of the County of` Hawaii, Hilo, Hawaii, or, at the option of the
holder, at the principal office of the
in the City of Paew York, New York, or at the principal office of
the in the City of San Francisco,
California, in any currency of the United States of America
which at the time of payment is legal tender for public and
private debts.
This bond :Ls one of a series of one thousand bonds of like
date, denomination and tenor, except as to number, interest rate
and maturity. :Che bonds of the series of which this bond is
one maturing February 1, 1985, and thereafter are subject to
redemption at the option of the County of Hawaii prior to the
respective stated maturities thereof, on and after February 1,
1984, in whole at any time, and in part from time to time on any
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interest payment: date and in inverse order of maturities, at
the principal amount thereof, the interest accrued thereon to
the date fixed i`or redemption and the following redemption
premiums expres:;ed as a percentage of the principal amount
redeemed: 3~ ii` redeemed February 1, 1984 and to and including
January 31, 198(1; 2~ if redeemed thereafter and to and including
January 31, 198£3; It if redeemed thereafter and to and including
January 31, 1990; and no premium if redeemed thereafter. If
less than all tYie bonds of any maturity are called for redemption,
the bonds of such maturity to be redeemed shall be selected by
lot. In the event this bond is redeemable, as aforesaid, and
shall be called for redemption, notice of the redemption hereof
stating the des~'~gnation, date, number and maturity of this bond,
the date fixed f`or such redemption and the premium payable upon
such redemption,, shall be given by publication of such notice
in The Daily Bond Buyer, a financial paper published in the City
of New York, Neon York, or in lieu of such publication in The
Daily Bond. Buyer, by publication thereof in some other financial
paper published in either of the cities of New York, New York,
or San Francisco, California, the date of such publication in
any case to be at least thirty days prior to the date fixed for
the redemption hereof. If this bond be redeemable and shall have
been duly called for redemption and notice of the redemption
hereof published as aforesaid, and if on or before the date
fixed for such redemption payment hereof shall be duly made or
provided for, interest hereon shall cease from and after the
redemption date hereof.
This bond. :is one of a series of bonds authorized by the
Council of the County of Hawaii to be issued to provide funds
for various pub:Lic improvements of said County. This bond and
the series of which it is a part are issued under and pursuant
to and in full compliance with the Constitution and statutes of
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the State of Hawaii, including Part I of Chapter 47 of the Hawaii
Revised Statutes, as amended, the Charter of the County of Hawaii,
and proceedings of the aforesaid Council duly taken thereunder.
This bond is a general obligation of the County of Hawaii, and
the payment of the principal and interest hereof is a first
charge on the general fund of said County. The full faith and
credit of the County of Hawaii are irrevocably pledged to the
punctual payment of the principal of and interest on this bond
according to its terms.
It is hereby certified, recited and declared that all condi-
tions, acts and things essential to the validity of this bond
and the series of which it forms a part exist, have happened and
have been done; that every requirement of law affecting the
issuance thereof has been duly complied with; and that the amount
of this bond and the series of which it forms a part, together
with all other indebtedness of the County of Hawaii, is not in
excess of any statutory or constitutional limitation of indebted-
ness.
IN WITNESS WIiEREOF, the County of Hawaii has caused this
bond to be signed by its Director of
of Finance, to bear the lithographed
nature of its Mayor and to be sealed
engraved facsimile of its seal, the
attached to bear the lithographed or
signature of its Director of Finance
as of the day of
Finance or a Deputy Director
or engraved facsimile sig-
with a lithographed or
interest coupons hereto
engraved facsimile of the
and this bond to be dated
1974.
Director of Finance or Deputy
Director of Finance of the
County of Hawaii
Mayor of the County of Hawaii
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(FORM OF COUPON)
tdo . $
On , 19 , unless the bond hereinafter
mentioned shall be subject to prior redemption and shall have
theretofore been duly called for previous redemption and payment
of the redemption price duly made or provided for, the County
of Hawaii, State of Hawaii, will pay to bearer at the office of
the Director of Finance of the County of Hawaii in Hilo, Hawaii,
or, at the option of the holder, at the principal office of the
in the City of New York, New York,
or at the princ3.pa1 office of the
in the City of :>an Francisco, California, in any coin or currency
of the United States of America which at the time of payment is
legal tender for' public and private debts, the sum shown hereon,
being the interest then due on its Public Improvement Bond, 1974
Series A, dated as of February 1, 1974.
No.
Director of Finance
SECTION 4. Without any further authorization from or action
by this Council but subject to the provisions hereof and of
applicable law, the Director of Finance is hereby authorized to
issue and sell t:he Bonds authorized herein. Without limiting
the generality of the foregoing, the Director of Finance is
hereby authorized to select a date for the sale of the Bonds,
to publish and distribute a Notice of Sale thereof in such form
and containing such terms and conditions as he may deem advisable,
to distribute an Official Statement and such other information
as he may deem advisable, to receive bids for the sale of Bonds
and to award the' sale of the Bonds to the bidder offering the
lowest interest cost therefor, after allowing for any premium
tendered; provided that the Director of Finance may reserve the
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right to reject any and all bids. Without further action of
this Council, the Bonds shall bear interest at the rates per
annum as specified in the bid accepted. The Director of Finance
and all officials of the County of Hawaii are hereby authorized
to take such action and execute such orders, receipts and other
documents as may be necessary in order to effectuate the sale
of the Bonds, and, if any bid therefor be accepted, the prepara-
tion, execution and delivery thereof, in accordance with the
provisions hereof and applicable law.
SECTION 5. General obligation bond anticipation notes are
INTRODUCED BY:
hereby authorizc=_d for issuance and sale by the Director of
Finance in anticipation of the issuance and sale of the general
obligation bond<.s authorized herein. The issuance and details
of the notes shall be governed by the provisions of Section
47-2.2, Hawaii Revised Statutes, as amended.
SECTION 6. All or any portion of the proceeds derived from
the sale of the Bonds, or any notes issued in anticipation of
the Bonds, sha1:L be used to pay all or part of the cost of any
appropriation for various public improvements made in Capital
Budget Ordinances No. 235, 327, 409, 475 and 586, as amended.
SECTION 7. This ordinance shall take effect upon its
approval.
Councilman, County of awaii
Hilo, Hawaii.
Date of Introduction: fovember 7, 1.973
Date of Adoption: November 20, 1973
Effective Date: November 28, 1973
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Hilo, Hawaii
Date: nT,..,~,...ti.,,. ~ ~ ~~~
FIRST READING
AYES fJOES A/E
Cor enter
De Luz X
Ferias X
Fujii }(
Hisaoka X
Kawahara X
Matayoshi X
Yadao X
Chr. Yamada X
9
Publication Date:
NGV 15 ig;3
Hilo, Hawaii
Date: November 20, 1973
SECOND & FINAL READING
AYES NOES A/E
Carpenter X
De Luz X
Ferias X
Fujii X
Hisaoka X
Kawahara X
Matayoshi X
Yadao X
Chr. Yamada X
9
Publication Date:
OEC ~ 1973
We do hereby certify that the foregoing BILL was adopted by the County Council and published
as indicated above.
APPROVED I
.~ ,~ FORM ~U-~ 6QyS~J'
Council Chairman
C T;OY
UNSE_ .
couN r. or ,~~wnn
ti~
Dote:.1_L~`~..1.~._7..3.......__. UG§°; County Clerk
~~~F{~
Approved/Bimg~ed thisS `! ` day of
i
9
Mayor, Co ty of Hawaii
I
Bill No. ~
Reference:FC-13/C- 548._
M.B. No. _._
Ord. No. ~
Bill No, 7 - 1.973
AN ORDINANCE AUTHORIZING THE ISSUANCE OF $5,000,000 GENERAL
OBLIGATION BONDS OF THE COUNTY OF HAWAII FOR THE PURPOSE OF
FINANCING VARIOUS PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAII:
FIXING THE FORM AND DETAILS OF SUCH BONDS, AND PROVIDING FOR
THEIR SALESp AND AUTHORIZING THE ISSUANCE AND SALE OF A LIKE
PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES
IN ANTICIPATION OF THE ISSUANCE AND SALE OF SAID BONDS.
This Bill authorizes the issuance of $5 000,000 General
Obligation Bonds of the County of Hawaii for the purpose of
financing various public improvements; fixes the form and
detail of such Bonds, and provides for their sale; and
authorizes the issuance and sale of a like principal amount
of General Obligation Bond anticipation notes in anticipation
of the issuance arr3 sale of said Bonds.
Date Introduced: November 7, 1973
Copies of the foregoing Bill, in full, are on file in the
Office of the County Clerk for use and examination by the public.
I hereby certify that the foregoing Bill passed first reading
at the meeting of the County Council on November 7, 1973, by the
following aye and r/o vote:
AYES: Councilmen Carpenter., De Luz, Farias, Fujii, Hisaoka,
Kawahara, Matayoshi, Yadao and Chairman Yamada - 4.
NOES: None.
_,Wt1y~M IAA
Ar V~
OF ~/ ~d~Lr~ A[F/L/
IND COUNTY CLERK
ND
INO COUNTY OF HAWAII
AM-
AND
b
el Owraral ObI1FamKl gene M-
F Iwr« m aI1NCIptNna m.
wd.aMe o1~ulA eallAa.:
nfrotlufRA~ NevambAy Y, rn~
i el IM IOrapWlq~ Alll;. N' WI I, xa
I m. odk..rm.ealmr clue ror
and
i nxabytar{IW thtl the KKaFNnp BIII
alaeA Nrat raadinA at me mMKW of the
evnty CeunNl en NovamDx ), IA3, by
H rollewllp aya and ne vMe:
FariH, Fdlll, -MIaNKa! RaWa
hlahybNll, Vadeo'sntl CTairmeR Y1
-0. '
NOES: NOM.
lADASHI SUZUKI
COUNTY CLERK .
COUNTY OF HAWAII
leea-Mawall bibune~Nxsltl:
ORDINANCE NO. 6
(Bill. No. 7-1973)
AN ORDINANCE AUTHORIZING THE ISSUANCE OF $5,000,000 GENERAL
OBLIGATION BONDS OF THE COUNTY OF HAWAII FOR THE PURPOSE OF
FINANCING VARIOUS PUBLiC IMPROVEMENTS OF THE COUNTY OF HAWAII:
FIXING THE FORM AND DETAILS OF SUCH BONDS, AND PROVIDING FOR THEIR
SALE; AND AUTHORIZING THE ISSUANCE AND SALE OF A LIKE PRINCIPAL
AMOUNT OF GENER:~L OBLIG.~TION BOND ANTIr_IpATION NOTES IN ANTICIPA-
TION OF THE ISSUANCE AND SALE OF SAID DONllS.
Date Approved: November 20, 1973
Date Effective: November 28, 1973
Copies of the foregoing Ordinance, in full, are on file .in
the Office of the County Clerk for use and examination by the
public.
I hereby cert.ifv that the foregoing Ordinance passed second
and final reading +a t. the meeting of the County Council on
November 20, ].973, by the Following aye and no vote:
AYES: Councilmen Carpenter, De Luz, Farias, Fujii, Hisaoka,
Kawahara, Matayoshi, Yadao and Chairnan Yamada - 9.
NOES: None.
F OR
INL
' OF
ANO
AND
OHe AVNVVM:-p1DVNp6N 7F:9~-
OHeE)reetiYS: Narelr'Wr +/A
Cogas or role kvepllq ~ M
Ml: are on fl~e'iD IM ON1~fa1 NMltGwlty
Clwk for vu enA eKeIDMdbn~bY NNr
public.
-=1- '.
I hereby <Ntlfy IbN Me eare~Yq OM1
ananrapneaE ZSCaM angNnal reeiNKl an
the meafilq pf Kuo [oODrY Cpmcll an
November zb;'1%7, by Mcblknripq Wt
anp ro vots:
AYES: UuMllmen CCXsrpNitN, p Luz,
Fpin, FUhlr. NIYOMa;.~ KewMePo.
hMrayeNt, Yagao allo GeirmAl Yemaga
v.
NOES: Nona.
TAOASNI SU2UKI
CoVNTV CLERK
COUNTY OF HAWAII
(IM-Nawali TNDYaPNeI'~lo:
Dec. Z, 1%]I
COUNTY CLERK CJ
COUNTY OF HAW+~II
S O F ~,
/~"~' q
o A~Ilr .
Tadashi Suzuki m,/
' ~' == = °%
COUNTY CLERK 0\..0.. H
OFFICE OF THE COUNTY CLERK
COUNTY OF HAWAII
HILO, HAWAII 96720
Mayor Shunichi Kimura
County of Hawaii
Hilo, Hawaii
Robert Shioji
DEPUTY COUNTY CLERK
I hereby transmit Ordinance Bill No, 7 passed by
the County Council on second and final reading.
1
,~ i
//
DEPIJTY COUNTY CLERK/~
Encl.
Dated: Nov. 21 1973