HomeMy WebLinkAboutRES 752 Draft 01 1980-1984~~- ~~ 0 0
County of Hawaii-State of Hawaii
Resolution No. '~52 sa
A RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF GENERAL
OBLIGATION BOND ANTICIPATION NOTES OF THE COUNTY OF HAWAII IN
AN AMOUNT NOT TO EXCEED $7,000,000 AS AUTHORIZED BY ORDINANCE
NO. 83-8 OF THE COUNCIL OF THE COUNTY OF HAWAII ADOPTED ON
AUGUST 17, 1983, IN ANTICIPATION OF THE ISSUANCE AND SALE OF
GENERAL OBLIGATION BONDS OF THE COUNTY OF HAWAII AUTHORIZED BY
SAID ORDINANCE NO. 83=8.
WHEREAS, Ordinance No. 83-.8,adopted by the Council of the
County of Hawaii on August 17, 1983, authorized the issuance
and sale of $7,000,000 principal amount of general obligation
bonds of the County of Hawaii, none of which bonds have been
issued and sold; and
WHEREAS, said Ordinance No. 83-8 also authorized the issuance
and sale of general obligation bond anticipation notes in anti-
cipation of the issuance and sale of the general obligation bonds
authorized therein, none of which notes have been issued and sold;
and
WHEREAS, the Council of the County of Hawaii deems it
advisable and in the best interest of the County of Hawaii to
issue from time to time general obligation bond anticipation
notes of the County authorized by Ordinance No. 83-8 in a
principal amount not to exceed $7,000,000 in anticipation of the
issuance and sale of the bonds authorized by said Ordinance No. 83-8;
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY
OF HAWAII, STATE OF HAWAII:
SECTION 1. The Director of Finance of the County of Hawaii
is hereby authorized to sell at public or private sale, and to
provide for the issuance of, general obligation bond anticipation
notes of the County of Hawaii in a principal amount not to exceed
$7,000,000. Such notes may be sold at one time or from time to
time in part, as shall be determined by the Director of Finance.
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SECTION 2. Said general obligation bond anticipation notes
shall be executed by the manual signatures of the Mayor and
Director of Finance of the County of Hawaii. The issuance and
sale of said general obligation bond anticipation notes shall,
in all respects, be governed by the provisions of Section 47-2.2,
Hawaii Revised Statutes, as amended. The Director of Finance,
without further authorization by this Council, but in accordance
with and subject to the provisions of Section 47-2.2, Hawaii
Revised Statutes, as amended, and this resolution, is hereby
authorized to determine and fix: the form of said notes; the
designation, if any, of said notes; the date or dates of said
notes; the rate or rates of interest per annum said notes shall
bear, not to exceed ten per centum (10~) per annum; the interest
payment date or dates of said notes; the maturity date or dates
of said notes; the place or places of payment of said notes, if
any, in addition to the office of the Director of Finance;
whether or not the notes shall be subject to redemption prior to
the stated maturity and if subject to such prior redemption the
provisions for such prior redemption and the premiums, if any,
payable upon such redemption and the respective periods in which
such premiums are payable; and whether or not said notes shall
be registrable as to principal only or as to both principal and
interest, and if registrable the place of such registration and
registrar therefor. The Director of Finance shall upon the
issuance and sale of all or any portion of said notes file a
report as to the results of such sale with this Council.
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-.;.
SECTION 3. The full faith and credit of the County of
Hawaii are hereby pledged to the payment of the principal of
and interest on the notes. The interest on the notes shall be
paid from the general fund of the County of Hawaii and the
principal thereof shall be paid from the proceeds of the sale
of the bonds in anticipation of which the notes have been
issued or from any money in the general fund available therefor.
SECTION 4. This resolution shall take effect upon approval.
INTRODUCED BY
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COUNCIL MEMBER, COUNTY F HAWAII
Hilo, Hawaii
COUNTY COUNCIL
County of Hawaii
Hilo, Hawaii
I hereby certify that the foregoing RESOLUTION was by the vote indicated to
the right hereof adopted by the COUNCIL of the County of Hawaii on
October 19, 119-83
ATTEST:
COUNTY C RK AIR AN & R SIDING OFFICER
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ROLL CALL VOTE
AYES NOES
De Luz, III X
Domingo x
Fujii X
Hale X
Kawahara X
Lai X
Schutte X
Chr_ Yamashiro X
Reference:
M.B. No.
RESOLUTION N0. -ate