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HomeMy WebLinkAboutORD 1979-407 1976-1980BILL NO. 43~' COUNTY OF HAWAII - STATE OF HAWAII ORDIIANCE NO. 4O'"J AN ORDINANCE AUTHORIZING THE ISSUANCE OF $2,000,000 GENERAL OBLIGATION BONDS OF THE COUNTY OF HAWAII FOR THE PURPOSE OF FINANCING VARIOUS PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAII; FIXING THE FORM, DENOMINATION AND CERTAIN OTHER FEATURES OF SUCH BONDS, AND PROVIDING FOR THEIR SALE; AND AUTHORIZING THE ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATIOf~ NOTES IN ANTICIPATION OF THE. ISSU- ANCES AND SALE OF SAID BOND.. BE IT ORDAINED BY THE COUNC]L 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 $2,000,000, the proceeds derived fron the sale of which shall be used to pay all or part of the cost of appropri- ations for various public improvements of the County to k~e financed from general obligation bone! funds made (a) in the capital budget ordinance for the fiscal yez~r ending June 30, 1979 (Ordinance No. 360, as amended); (b) i:~ the capital budget ordinance for the fiscal year ending June 30, 1978 (Ordinance No. 289, as s.mended); and (c) in the capital budged ordinance for the fiscal year ending June 30, 1977 (Ordinance No, 211, as amended). SECTION 2. The geaneral obligation bonds (herei.nafter referred to as the "Bonds") authorized for issuance and :vale in Section 1 hereof shall be i:;sued and sold in their entirety at one time, or from time to time ::n part in series, as shall bey deter- mined by the Director of Fiance. All such Bonds shall k~e issued in bearer form with coupons attached and without privilecfe of re- gistration and shall be in :he denomination of $5,000 each. The Bonds of a given series shall be numbered from 1 upwards in order of maturity; shall mature is numerical order annually on the day in This bond is one cif a series designated Public Improve- ment Bonds, Series of like date, denomination and tenor, except as to numk~er, interest rate and maturity. The bonds of the series of whicY~ this bond is one maturing 19 and thereafter are subject to redemption at the option of the County of Hawaii prior to the respective stated maturities thereof, on and after 19 in whole at any time, and in part from i:ime to time on any interest F~ayment date and in inverse order of maturities, at the principa] amount thereof, the interest accrued thereon to the date fixed for redemption and the followinct redemption premiums expressed as a percentage of the principal amount redeemed: during the period 19 to 8 if redeemed 19_, both inclusive; 8 if redeemed during the period 19 to 19 both inclusive; 8 if redeemed during the period , 19 to 19 both inclusive; and r~o premium if redeemed on or ai'ter 19__. if less than all the bonds of :cny maturity are called for redemption, the bonds of such maturity +.o be redeemed shall be selected by lot. In the event this bond is redeemable, as afore:~aid, and shall be called for redemption, notice of the redemption hereof stating the designation, date, number and maturity of this bond, the date fixed for such redemption and the premium payable upon such redemption, shall be g:_ven by publication of such notice in The Daily Bond Buyer, a financial paper published in the City of New York, New York, or in 15_eu of such publication in The Daily Bond Buyer, by publication :hereof in some other financi~cl paper published in either of the ~:ities of New York, New York, or San Francisco, California, -.he date of such publication .n any case to be at least thirty days ~~rior to the date fixed for t2ie redemption -4- Pahoa, Hawaii Dnte. naramhar 20 1978 FIRST READING AYES NOES A/E Dahlberg X Domingo X FuJll X Garcla X Kawahara g LaI X Sameshima X Tajiri X Cnr.Yamashir X 9 0 (~ Publication Date: ~~ ~ V ~~~~ - Hilo, Hawaii n..re. r~,,,,~,-., i~ ia~,a SECOND 8 FINAL READING AYES NOES A/E Dahlberg x Domingo x FuJll X Garcia X Kawahara x Lal X Sameshima X Tajiri X Cnr.Yamashir X 7 0 2 Publitation Date; JAN ~ 6 197g We do hereby certify that the foregoinl3 BILL wos adopted by the County Council and published ASSIST as indicated above. A;'1'RflVED as to FC?I;1~1 and I~vALITY ~0?~.4'cu~.u.a- -- ~oo~~„ ~, C.G~_hv~t ~I' .,. J~.',I Date ._...__~ ~1 V, _ 1__J._ 731 ~--- --------- Council f u~i. ~~ ~~ County Clerk f Bill No. 437 Reference: _. C- 9 9 5 M.B. No. - Ord. No. _ ApprovadfBd• thi ~1 /~/ day of c~ -r~,c%-ecru.,, 19~_.