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HomeMy WebLinkAboutORD 1974-051BILL NO. 62 __ (AMENDED) COUNTY OF HA4IAII - STATE OF HAWAII ORDINAN~E N0. S1 AN ORDINANCE AUTHORIZING THE ISSUANCE OF $5,000,000 GENERAL OBLIGATION BONDS OF THE OUNTY OF HAWAII FOR THE PURPOSE OF FINANCING VARIOUS PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAII; FIXING THE FORM, DENOMIN TIONS AND CERTAIN OTHER FEATURES OF SUCH BONDS, AND PROVIDIN FOR THEIR SALE; AND AUTHORIZING THE ISSUANCE 2u~1D SALE OF A L KE PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPA ION NOTES IN ANTICIPATION OF THE ISS- UANCE AND SALE OF SAID B NDS, BE IT ORDAINED BY THE CO~JNCIL OF THE COUNTY OF HAWAII: SECTION 1. Thjere are hereby authorized for issuance and sale during the current fiscal year general obligation bonds of the County of Hawaii in the Irincipal amount of $5,000,000, the proceeds derived from the sale o which shall be used to pay all or part of the cost of appropriations for various public improvements of the County to be financed f om general obligation bond funds made (a) in the capital budget o~dinance for the fiscal year ending June 30, 1971 (Ordinance No. 327 as amended); (b) in the capital budget ordinance for the fisca~ year ending June 30, 1972 (Ordinance No. 409, as amended); (c) i~ the capital budget ordinance for the fiscal year ending June 30, 1973 (Ordinance No. 475, as amended); (d) in the capital budg~t ordinance for the fiscal year ending June 30, 1974 (Ordinanc~ No. 586, as amended); and (e) in the capital budget ordinance for the fiscal year ending June 30, 1975 (Ordinance No. 46, as amended). SECTION 2. T~e general obligation bonds (hereinafter referred to as the "Bondds") authorized for issuance and sale in Section 1 hereof shall Ipe issued and sold in their entirety at one time, or from time to t~me in part in series, as shall be deter- mined by the Director off Finance. All such Bonds shall be issued in bearer form with coul`pons attached and without privilege of registration and shallibe in the denomination of $5,000 each. The Bonds of a given series) shall be numbered from 1 upwards in order of maturity; shall mat~re in numerical order annually on the day in each year which is t$he anniversary of the date of the Bonds of such series, the first: of such maturities to be not later than three years from the date thereof and the last of such maturities to be not later than twenty years from the date thereof, in such amount in each year as shall be determined by the Director of Finance; and 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 of such series, if any bid therefor be accepted, such interest being payable on the day which is six months from the date of the Bonds of such series and semi-annually thereafter. The Director of Finance is hereby authorized to determine, in accordance with and subject to the provisions of this ordinance, the series de- signation of the Bonds; the date or dates of the Bonds; the interest payment dates thereof; the maturity dates thereof; the amount of principal maturing on each maturity date; the places or places of payment thereof in addition to the office of the Director of Finance; and whether or riot the Bonds shall be subject to redemption prior to the stated maturity and if subject to such prior redemption, the provisions for such prior redemption, the premiums (if any) payable upon such redemption and the respective periods in which such premiums are payable; provided that all such details shall be subject to ratification by this council by resolution adopted at or prior to the time of sale of the Bonds. In the event any of the Bonds shall be sut~ject to prior redemption, 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, New York, or San Francisco, California. SECTION 3. They Bonds shall be signed by the Director of Finance or a Deputy Director of Finance and shall bear the litho- graped 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 thc~ signature of the Director of Finance. The Bonds shall be designated and the form of the Bonds and the - 2 - coupons attached thereto shall be, substantially as follows with such appropriate insertions, variations, and ommissions as are re- quired with respect to a particular series of the Bonds: UNITED STATES OF AMERICA STATE OF HAWAII COUNTY OF HAWAII PUBLIC IMPROVEMENT BOND, SERIES No. $5,000 The County of Hawaii, State of Hawaii, for value re- ceived hereby promises to pay to bearer the sum of Five Thousand Dollars ($5,000) on the ~, day of 19_, upon pre- sentation 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 annually on the per ce:ntum ( %),per annum, payable semi- day of and in each year, such interest to they maturity hereof being payable only upon presentation and surrendex• of the interest coupons hereto attached as they severally become clue. Both the principal of and interest on this bond are payable at the office of the Director of Finance of the County of Hawaii, i.n 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 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 is one: of a series of bonds of like date, denomination and terror, except as to number, interest rate and maturity. The bonds of the series of which this bond is one maturing _, 19_, and thereafter are subject to redemption at the option of the County of Hawaii prior to the re- spective stated maturitie:~ thereof, on and after 19_, in whole at any timE:, and in part from time to time on any interest payment date and in inverse order of maturities, at the principal amount thereof, the interest accrued thereon - 3 - to the date fixed for redemption and the following redemption premiums expressed as a percentage of the principal amount redeemed: _% if redeemed , 19_ and to and including including and including thereafter 19_ ; % if redeemed thereafter and to and ;, 19_; _% if redeemed thereafter and to 19_; and no premium if redeemed If less than all the bonds of any maturity are called for redemption„ the bonds of such maturity to be redeemed shall be selected by 7_ot. In the event this bond is redeemable, as aforesaid, and sha7.1 be called for redemption, notice of the redemption hereof stating the designation, date, number and maturity of this t>ond, the date fixed for such redemption and the premium payab7_e 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, New York, or in lieu of such publication in The Daily Bond Buyer, by publication thereof iri 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 and the coupons representing such interest shall be void. 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 public imF~rovements of said County. This bond and the series of which it: is a part are issued under and pursuant to and in full complitince with the Constitution and statutes of - 4 - 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 bon<i is a.general obligation of the County of Hawaii, and the pa.nnent 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 cer'~=ified, recited and declared that all conditions, acts and things essential to the validity of this bond and the series o:E 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 oth~=_r indebtedness of the County of Hawaii, is not in excess of any statutory or constitutional limitation of indebtedness. IN WITNESS WHEREOF, the County of Hawaii has caused this bond to be signed by its Director of Finance or a Deputy Director of Finance, to bear t'.ze lithographed or engraved facsimile signature of its Mayor and to be sealed with a lighographed or engraved facsimile of its seal, the interest coupons hereto attached to bear the lithographed or engraved facsimile of the signature of its Director of Finance and this bond to be dated . as of the day of 19_ Director of Finance or Deputy Director of Finance of the County of Hawaii Mayor o t e County of Hawaii - 5 - (FORM OF COUPON) No. $ On 19_, unless the bond herein- after mentioned shall be subject to prior redemption and shall have theretofore been dilly 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 principal office of the in the City of San Francisco, California, in any coin or currency of the United States of America which at the time of payment i.s legal tender for public and private debts, the sum shown hereon, being interest then due on its Public Improvement Bond, Series _, dated as of 19_, No._ Director o 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 the Bonds at one time, or from time to time in series, during the current fiscal year. Without limiting the generality of the foregoing, with respect to the sale of the Bonds or of portions of the Bonds the Director of Finance is hereby au- thorized to select the date for such sale, to publish and distri- bute a Notice of Sale 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 the Bonds or the portion thereof being offered and to award the sale of the Bonds or the porno n thereof being offered to the bidder offering the lowest interest cost therefor, after allowing for any premium tendered; provided that the Director of Finance may reserve the right to reject any and all bids. Subject to the provisions of Section 2 hereof without further action of this Council the Bonds shall bear interest - 6 - at the rates per annum as specified in the bid or bids accepted. The Director of Finance and all officials of the County of Hawaii are Yereby authorized to take such action and execute such order, receipts and other documents as may be necessary in order to effectuate the sale of the Bonds or any portion thereof, and, if any bid therefor be accepted, the preparation, execution and delivery thereof, in accordance with the provisions hereof and applicable law. SECTION 5. 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 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, shall be used to pay all or part of the cost of any appropriation for various public improvements made in Capital Budget Ordinances Nos. 327, 409, 475, 586 and 46, as amended, but not to exceed as to any particular capital budget ordinance the amount which equals the amount of unlapsed appropriations which may be financed from the proceeds of general obligation bonds and which have not been financed from such proceeds or from other moneys. The County herby covenants with the holders from time to time of the Bonds and the notes authorized herein, that so long as any Bonds or notes shall be outstanding, the County shall comply with the requirements of Section 103(d) of the U.S. Internal Revenue Code of 1954, as amended, and the applicable regulations of the Internal Revenue Service 2dopted thereunder. SECTION 7. This Ordinance shall take effect upon its approval. INTRODUCED BY: Coun 'lman, ounty of H/~- Date of Introduction: August 7, 1974 Date of Adoption Effective Date August 21, 1974 August 29, 1974 - 7 - Hilo, Hawaii Date: Auou~t 7. 1Q7L~ FIRST READING AYES NOES AfE Car enter X De Luz X Farias X Fujii X Hisaoka X Kawahara X J~Oafa7lCOEhGXXXX XXXXXXX XXXXxX XXXXX Yadao X Chr. Yamada X 8 Publication Date: AUG1 6 1874 Hilo, Hawaii Date: SECOND R FINAL READING ~~ AYES NOES A/E Carpenter X De Luz X Farias X Fujii X Hisaoka X Kawahara X ~MIakTRosimcxxxx Yadao XxxXXx XXXXXxx XXxxX AB Chr. Yamada X 1 rv ^:7E:1` :S'jVR Publication Date: We do hereby certify that the foregoing BILL was adopted by the County Council and published as indicated above. APPROVED hs .,, FORM ~o,,.~„ ~F ,.,,„nn Date AU~...'._=. "i....Te Approved/D /~""/! mil this-~Z~-`~-day of -"C~GC-4 ~~.~._ _ _., 191. ~` . _~ Mayor, County of Hawaii Council Chairman _ \~~ ~~ . County Clerk Bill No. __ 62 _ Reference: C-548_~RDC-33 M.B. No..___ Ord. No. __~___ d Bill No. 62 COLINTY OF ]iAWAII - STATE OF HAWAII ORDINANCE NO. 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 DE- TAILS 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 ANTICIPATION OF THE ISSUANCE AND SALE OF SAID BOND. BE IT ORDAINED BY THF: COUNCIL, OF THE COUNTY OF HAWAII: SECTION 1. There are hereby authorized for issuance and sale general obligation bonds of t:he 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 :i0, 1971, (Ordinance No. 327, as amended); (b) in the capital budget ordinance for the fiscal year ending June 30, 1972, (Ordinance No. 409, as amended); (c) in the capital budget ordinance for the fiscal year- ending June 30, 1973, (Ordinance No. 475, as amended); (d) in the capital budget ordinance for the fiscal year ending June 30, 1974, (Ordinance No. 586, as amended); and (e) in the capital budget ordinance for the fiscal year ending June 30, 1975, (Ordinance No. 46, 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 B'" (hereinafter referred to as the "Bonds"). The Bonds shall be dated October 1, 1974; shall be issued in bearer form with coupons attached and without privilege of registration; shall be in the denomination of $5,00() each; shall be numbered from 1 to 1,000 inclusive; and shall mature :>erially in numerical order in the principal amount of $280,000 on October 1 in each of the years 1977 to 1986, inclusive, and in the princi~~al amount of $275,000 on October 1 in each of the years 1987 to 1994, i~zclusive. The Bonds shall bear interest at such rate or rates per annum, not exceeding seven per centum (7~) per annum, as shall be specified in the bid accepted for the purchase of the Bonds, if any bid therefor be accepted, such interest being payable semi-annually on April 1 and October 1 of each year, commencing with April 1, 1975. Both princip~sl of and interest on the Bonds shall be payable at the office of the Director of Finance of the County of Hawaii, Hilo, Hawaii, or at the option of the holder thereof, at such place in the City of New York, New York, and at such place in the City of San Francisco, California, as the Director of Finance shall deter- mine. The Bonds maturing on and after October 1, 1985, shall be subject to redemption at the option of the County of Hawaii on and after October 1, 1984, in whole at any time, and in part from time to time on any interest payment date' and in inverse order of maturities and by lot within a maturity, at the principal amount thereof, the interest accrued to the redemption date, and r_he following redemption premiums: 3$ if redeemed October 1, 1984, anti to and including September 30, 1986; 2~ if redeemed thereafter anti to and including September 30, 1988; l~ if redeemed thereafter anti to and including September 30, 1990; and no premium if redeemed thereafter. At least thirty days' notice of redemption will be published in The Daily Bond Buyer or other finan- cial paper published in either of the cities of New York, New York, or San Francisco, California. SECTION 3. The Bonds shall be signed by the Director of Finance or a Deputy Director of Fina!~ce 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 - 2 - seal of the County of Hawaii., The interest coupons pertaining to the Bonds shall bear the lithographed or engraved facsimile of the signa- ture of the 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 CgUNTY OF HAWAII PUBLIC IMPROVEMENT BOND, 1974 SERIES B 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 October, 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 April and October 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 prin- cipal of and interest on this bond are payable at the office of the Director of Finance of the Caunty of Hawaii, 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 principal office of the in the City of San Francisco, California, in any currency of the United States of America which at tie time of payment is legal tender for public and private debts. This bond is one of a series of one thousand bonds of like date, denomination and tenor, except as to number, interest rate and maturity. The bonds of the series of which this bond is one maturing October 1, - 3 - 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 October 1, 1984, in whole at any time, and in part from time to time on any interest payment date and in inverse order of maturities, at the principal amount thereof, the interest accrued thereon to the date fixed for redemption and the following redemption premiums expressed as a percentage of the principal amount redeemed: 3~ if redeemed October 1, 1984 and to and including September 30, 1986; 2~ if redeemed thereafter and to and including September 30, 1988; 1~ if redeemed therea:ter and to and including September 30, 1990; and no premium if redeemed thereafter. If less than all the bonds of any maturity are called fo:r 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 stat:Lng the designation, date, number and maturity of this bond, the dai:e fixed for 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, New y'ork, or in lieu of such publication in The Daily Bond Buyer, by publication thereof in some other finan- cial 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. - 4 - This bond is one of a sfaries of bonds authorized by the Council of the County of Hawaii to bca issued to provide funds for various public improvements of said County. This bond and the series of which it is a part are issued undex• and pursuant to and in full compliance with the Constitution. and staautes of the State of Hawaii, including Part I of Chapter 47 of the F[awaii 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 conditions, 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 indebtedness. IN WITNESS WHEREOF, the County of Hawaii has caused this bond to be signed by its Director of Finance or a Deputy Director of Finance, to bear the lithographed or engraved facsimile signature of its Mayor and to be sealed with a lithographed or engraved facsimile of its seal, - 5 - the interest coupons hereto attached to bear the lithographed or en- graved facsimile of t:he signature of its Director of Finance and this bond to be dated as of the _ day of 1974. Mayor o t e County o Hawaii Director o Finance or Deputy Director of Finance of the County of Hawaii (FORM OF COUPON) No. On _, 19 unless the bond hereinafter mentioned shall be subject to prior redemption and shall have thereto- fore been duly called for previous redemption and payment of the re- demption 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 F3ilo, 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 principal office of the in the City of San 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 B, dated as of October 1, 1974. No. Director o Finance - 6 - SECTION 4. Without any further authorization from or action by this Council but subject to i:he provisions hereof and of applicable law, the Director of Finance is hereby authorized to issue and sell the 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 Boncls, 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 c.eem advisable, to receive bids for the sale of Bonds and to award tY.e 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 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 order, receipts and other documents as may be necessary in order to effectuate the sale of the Bonds, and if any bid there- for be accepted, the preparation, execution and delivery thereof, in accordance with the provisions hereof and applicable law. SECTION 5. General obligation bond anticipation notes are hereby authorized for issuance and sale by the Director of Finance in antici- pation of the issuance and sale of the general obligation bonds autho- rized herein. The issuance and details of the notes shall be governed by the provisions of Section 47-2.2, Hawaii Revised Statues, 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, shall be used to pay all or pert of the cost of any appropriation for - 7 - various public improvements glade in Capital Budget Ordinances No. 327, 409, 475, 586 and 46, as amended. SECTION 7. This Ordinance shall take effect upon its approval. INTRODUCED BY: I~ Counci man, County o H aii Date of Introduction: August 7, 1974 Date of Adoption: Effective Date: - S - H~il'~, Nom. 62 - lq'14 -N C`RT17N.;Nr"~. ~IiTHORI?ING THI~ 7°'U.`,NC^ C`F $r, n00 Onn GFN''R i G3I:IC;~~TI~'N '.30ND~ OF THE cOt.'NTY nF H .`d : I FOR THE PURPCSF O~' ^IN-;NCINC' '7~,-RIOU~ nURI.IC IN'PPOPSMFNTS OF TidF. QOUNTY QF ~t'1';7-?II: FIXI,dC; THE F~t'tN1 ;ND IIF:T',T7 S Of STTC1j 80'~7~_"' ACID t'RO~~IAING ~'OR TH :I2 S?1T x' i _4ND -?tT'1•j-TORT 'ItdG TH° T~ ,U~~NC , OF ."i 1L~' CP ': 1 ~}zT' I'RINC'7r'.~1. ah1C`UNT OI' ~~F;N~R~iL t`BLIr 1TICN AQPTh ?.NTICIz-'_TI~'TT NC'Tr"' IN 1.?7TT~'Z!?'~T7~N OF THE i,SSUINCF ~:ND S1IR OP' c?In BOND. 3~on~e~ ^P HAP r^,~n+v ~'~° H->~,,, ,~llt'~1'<7 imr~~-fw ~,.nr,nt'-'. f~F +h'- „r C. Lt rl7 hnn~~, ?t^rl rrOVjrl r, ~; ~r)Y'!t ,n+-.7 "7 Y'zi'i. ., vTr~Yc- ip °a i d ?n~md i~,.l.an~. ~, ~, {` nr,In(`,n i7M ^, c~pr,••--., ~h~i^at~i',. ;; {„r th^ rttrnr.,-~ n4 f~nancin^ ,ar;~tt: , ,.,t7 n+..V of IAp,ajl~ PiyP<' 1_~Y1^ Fp !".n any' ,lip t,a; '.. f n.- thr.;. :,ele• and ?tat~ori ;r, ~?~~ n;~,pcir,a? a ,nr-un~ of G~nc>ra1 Gl~7li^~`inn 'pnt ,~i *'nt1(ln n{ +h~> i~~-P do C`p nnC' :-.,~,~ n~ ~)a*~~ Intrnc,u,-~,.q: nrnst ~ 74~n ~"oni.A~ -~f t'7f ~t`tre~cminn CIi 11 , in °u7 1 , arr~ nn fi 7 r i n th ° Pf`i c^ ~a the Crnmfv "~=•r?< for u~.~, ~m~? F•x~mination by *h~, nubli.r. I 17 ~, y. C'~V rn Y'f 7(fv t". ~la t' {'~1"' {n"C•:~nl n'~r H111 L?a c,cnl fi'.-."Y ~~-~77!al nrr fit. fh~ ^toeYin~ of the ~'ounty C^~iln~~l on '!1.1~n~Y 7, 1~?4, by *h<~ fo17~.5,,ir,-r av,~., ,nnd n~, .>~.r.... AYES: Councilmen Carpen~Cer, De Luz, Farias, Fujii, Hisaoka, Kawahara, Yadao a~0.d Chairman Yamada - 8. NOES: None. COUNTY CLERK COUNTY OF HAWAII t,., me (H--H~tirMl Y+~4wlikfYrnCe. Auprl fW 1110' s,~~.u.. ORDINANCE NO. 51 (Bill No. 62-1974) 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, DENOMINATIONS AND CERTAIN OTf(ER FEATURES OF SUCH BONDS, AND PROVIDING FOR THEIR SALE: AND AUTHORIZ]NG THE ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES ZN ANTICIPATION OF THE ISSUANCE AND SALE OF SAID BONDS. Date Approved: August 27., 1974 Date Effective: August 29, 1974 Copies of the foregoing Ordinance, in full, are on file in the Office of the County Clerk far use and examination by the public. I hereby certify that the foregoing Ordinance passed second and final reading at the meeting of the County Council on August 21, 1974, by the following aye and no vote: AYES: Councilmen Carpenter, De Luz, Farias, Fujii, Hisaoka, Kawahara and Chairman Yamada - 7. NOES: None. ABSENT AND EXCUSED: Councilwoman Yadao - 1. ~d\ ~ , 2.c/ COUNTY CLERK COUNTY OF HAWAII cw-i+.war rneum~ ''~ sMn. ~, mil