HomeMy WebLinkAboutRES 342 Draft 01 1965
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COUNTY OF ImWAII ...STATE OF HAWAII
RESOLUTION NO 0 342
RESOLUTION .AUTHORIZIIG mE ISSUANCE AID SALE OF $13_ '145.65
PAR VJ.LUE 5+1.0 IMPROVEMENT DISTRICT BONDS FOR "IMPROVEMElfr
DISTRICT NO.2'" DHAWU...DAUHOU, S IOIA, HAWAII: SALE DAtE
JANUARY S, 1966.
'WllEREAS, by Ordinance 100 331 of th$ County of HawQii
special aS86111U!illente were fix~ld against the sevElral properties
situate in and oomprill1n(2 -Improvement Distxict No.. 2 ""
I:ahaluu-Keauhou,. KonIg Hawaii" and the tiBlll8 foX' payin<;j the 8143.1<:1
assessments did expire on November !5, 19658 and
WJ:lEREAS, 811pro:pe:rty ()\;1ilerS or holders in said
Improvement Distriot have paid their assessments in full or
elected to pay in in.tallments with respect to each. and e"exy
lot specially assessed for the cost of said improvement"
1e4.1'in9 8..$ of Nove$ber 26q 1965" a balance 01$73,745..65,
which is to be paid in not more thtm twenty installments t'iith
interest; a.nd
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WF..REAS, the sum of $13" 145.65 i.no\? n$e&$s8.ry and required
out of th$ assessments and installunts $0 due Md remaining
for immediate use to meet the cost of the improvemsntao adva.ncH~dt1
made or to be .ade in said Improvement Di~trlctg
NOW, THEREFORE# BE IT RESOLVED BY THE BOARD OF SO'PERVISORS.
1. That Improvement District Bonds for IiliIImpro'Vement
District 10. 2 .. Kabaluu...JCeaubouq'iII ICona, Hawaiiii' uoW\t~ to
$73,745,,65 be and the a$ma are hereby Eiuthcri_d fer .i$S'ilUS\J\CG()
and that th$ officials desi~ted by law QEe h$reby direoted
to execute and issue such bonds as prcvid~H::t by Sections 146-
130 to 146....171" in.clusive" of the Revi$ed Lws of !awaii 19S5q
as amended.
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II!._ B. No. __h__~_, 750 .
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2.. 'fhlllt tl'-.e bonds of this issue shall be of t b.e
denomination of $1,000..00 eGch" except as to one bond which
shall b~ of the denomination of $145.. 6Sq and numbered conse-
cutively from 1 to 14; that said bonds shall be dated
January 15~ 19660 payable Janua.ry 15, 19850 and subjecttC)
oall on JaJ.\uary 15" 1987 t} or at any time thereafter; that
sa.id bonds shall bear interest 4t tM rate of five and one...half
percent (5i1,) per annU1l\ payable semi-annuulyo interest to
cease on the dete of call; ea,nd that $.aid bonds and the interest
coupons thereof shall be printed or lithographed, and when
printed or lithographed, shall contain the provisions sub$tantially
set forth herein 11 and shall be issued in fJubstantially the
.following fem:
NO~
UNITED STATES OF AMERICA.
STATE OF H.~WAIl
n.wROVEMEN1' DISTRICT BOND
OF THE
COUNTY OF H1\ WAIl
$10000
$lBOOO
II\IPROVEMF.NT DISTRIct lUMBER TWO ...
IAHAWU-D:AUHOU. I01U\.. l1AVAII
TOTAL IsstTE .$73~14S..6S PaYabl$ January 15.. 1985
Redt'ulma:ble on and after January 1517 1967
aO\f ALL MEN BY THESE PRESENTS: Thatq $ubjeet to the
provisions of Seotions 146-130 to 146"'111, inclusi v-e, of tM
RevisadLawB of R&waii 1955, aa amettdedD and pursuant to
proceedings of the Board of Superviso%,$ of the County o.r Hawaii
duly t.aken tMreunder:
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THECOUlrry OFI:L~W^II, State of Hawaii" for value received,
hereby I>1"om1$8$ to pay the bearer out of the fund harainafter
spee1fled, the ..utfl of ONE TlIOUSA}Ul OOI.J..ARS ($1,000.00) in
lawful mon.ey of the Un! ted States of Pun~ricaon the 1Sth day
of January, 1965, together with interest thereon at the rate
of five and one-Wt~r cent (51-1,) pet annum, payable semi-
annually on the lSt,l1. day of January and the 15th day of Ju.ly,
upon presentation and surremder of the1nt$rest coupons a.ttaQb.ed
hereto at! thay severally become due. both principal and, intfu:est
of this bondbGing payable out of th.$ fund hereinafter specified
and at tht't office of the Treourer..County of liaw$ii, at Hi.lo.
The principal and interest ofthisbcnd araexernpt from
all state, county and' municipel taxat.ion in the State of Hawaii,
except inheritanoe, transfer and esta.t~ taxes.
THE COUEY OF mrWltII roaerves tluJ rig-ht to redeem this
bond on ,the 15th day of J elluary_ 1961 ~ and thereafter as provided
in Seotioo$ 146"'130 to 146"'111, inclusive, of the Revised Law$
of Hawaii 19S5l'laa am.endea.
Thi$ oond 1$ one 01 a starisa numbetl$d from One (1) to
Seventy-Four (14), inclusive.. Bond Number One (1) beinq oftha
denomination .of SSYi)n }iundr~d Fort1.F'iv~ and 65/100 Do11u$
($145..65)" and Bonds Ihlll1ber '1\10 (2) to Seventy-Pour (74) being
of the denomination of One Thousand Do11arl1$ ($1,000.00) ,eaah,
oia total issue of Seventy-Three Thousand Seven Hundred Fort1Q
Five and. 65/100 Dollars ($73#745.65).
This bond 1.spayable. exolu.dvely ou't,()f the~ey to be
eolleO'ted. or paid onaeoQuntof the t1$sessments lmI)a.id as of
the 26th day of }fovember{l 1965, being a total SlUt of Seventy.
Three Thcnil$and Seven Hundred Forty""i:ve $nd 65/100 Dollars
($73,74S.5S) bearing interest at six per cent (61.)1'&1' aMtun
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as presori._d by Ordinancel'W'llber 331cf sud County of
HsNa!1 against property contained in -IMPROVEBlfr DISTRICT
10" ~. .. tlUmLUU.rMUHOU, f.Ii1.m IOIlA, HAWAII" in aatel County of
&wal1, whi<;h unpaid aSQ611llm.ents &rQ payable in not moTe than
t\I1$nty equal lnstalbaents with interest at six per cent (61.)
))$1' annum from. Octobttr 2S~ 1965, end which assessmente ar$
se..rally & prior lien upon the several properties assassed to
the UQunt of the l.U\paic:l a$$e"$l\ents thereo1'le
tHE .CO'O'lnY OF HAWAII hereby promiees.# for valuable
col\aideratiQno toeauso said unpatd8.8SeSsments to be collected
or paid and kept in the Improvement Dlatriet Bond and Interest
Redeaption Fund to b0 applied solely to the payment of interest.
and. principal on the bonds i.st.ea for said Iap1"ovement District
until fully paid, and will otherwisepllu'form all its. obligations
as req1lired by sald Section$ 146.130 to 146-111.. 1nolllsive, of
the Revls$d Laws of Hawaii 1955. as~Gd.
THE COUNTY 01 HAWAII dces not otherwise 9Uuantee the
payment hereof. this bond is nota general. debt of the County
of Hawaii, nor based upon the oredit of the public domain# nor
ch$:rqeable agaia$t the gen$ral revenues of said County# f\()1'
~ it be.napecifically au.thorl~ed by the voters oleald
County upart of . general indebtedness.
It is hereby certified and recited that all act.., conditions
and proceeding.Q e$a.entlal to the validity of th1$ b)nd and
r~lred by said sectio1\$ of the Revised Laws to be done
preoed.i$nt therotc>and h\ the iS$ui:n9' of this bond, enst, have
duly happened and have been perfo.rmed in regular and due font
&$. required by law.
IliITNESSWlmREOF, the said COUNTY OF m\WAII haa oaused
the$o pX'essnt.$ t.o be executed by its Treasu.rer~ to bear the
$l9Ilat\ttes of itaCha:h'titmand kecutive Officer and its Clerk
_d $9al~d wi tb. the Corporation S.al of the CO\U\ty of Havali,
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and th~ interest ooupons hereto attaohed to bear the eag-raved
faosimile signature of its Treasurer, as of the 15th day of
January, 1966.
<1
COUNTY OF ltl\\ij\ I I
By.
Its 'Xreasurer
By, J 'A
Its Chairman and Executive
Officer
J\TTESTED:
It's Clerk
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(Seal)
(FORM OF COupm'l)
~^!o. 1
$27..50
On t_ Fifteenth day of Jul~# 1966, the County of Hawaii.
,t . .
State or Hawaii,. will pay the bearer at the office of tll$
Treasurer, County of Hawaii, Hilo, Hawaii, out of the Improve-
m.ent D1$1:r1(:t Bond & Interest Redemption Fund, the sum. shown
hereon, being the semi ....annual interest then due on i 1:s
Improvement District Bond 1s$UsdfQr -Improvement District
~lo. 2 · 1.:ahaluu...Keauhou," Kena, Hawaii, elated as of January 15,:
1966.
nICI: T~ TANABE (facsimile)
Treasurer, County of liawaii
Bond liQ. !
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3Q '1ut t1\8 prinaipel and int.erliu.t 0.1 said bonds sh4l11
~ payah1.eat tn. office of tmTreel:aurer, C<>u:nty Q.f Hawaii"
at lii.1:o, HawMi. solel, and exolusively out oftha Im.ProV$l'M~nt
l)iatrict ,Bond a.n.dlnt,rea-t Red_ptton j'u:nd frO':tn all moneys
cclleotedo1\ acoount ofse$essntents and 1ntere$t dIlafor
~Imp:rov_-e1\t Distri c:tJo. 2 .... Iahaluu -J.:eaul\OU," ICona,Hawal i..
whioll shall be de.i~t$d in th.a bonds issued her~de:r..
4: !Ii That the Treasuxer of th.$ Count,yof Hawaii is h$reby
autbGrized ,~ direat$d te> procure the printing or 1i thographing
Of the ne~~'u.;$ary bonds authori$edhereu, $ubatant1a.lly according
to thelforeqoing f()1'li\ her$by appro"ed by the&ard o.f Bu:pax-visors;
an~t.hat$aid Tr$asurer lsm:teby furtl'tt'U" authorized and dir~oted.
on behalf0fthe County of Hawaii to publish a call ina ne*lits...
paper of ~ene:r.lo1t'wlat.ionPlbli$h$d in the County of Hawaii,
at least once a W8tk;: for not l$Qsthan tyo $1.\ccl.!s$1.a l1$eks,
that tenders 'fill be t'Etcei ved for the purohase of $Clidbonds
at tbeotf lC$ o-f tho TrEH1$Urer t County of-Hawaii, at Rilo.
Haws!it up to lO~ Of;hd\" liti., January S, 1966.
5. That the conditions of sale of said b:>nd.$shall be
as fQll~:
(1) ,1\11 bids shall state the pric$b1d per $100.00 per
value and th$antCi')UJ1.tof bond$' for which the bid is made;
( 2) On bid$tor the entire issue where award isade to
the .hlghe.t bidder, ill tho event of an award of the issue as
a wb.olep th.$ lloard of Supttrvis<)rs reserves the right to
apportion the <<ward ~ng two or mQ:n~ ~al biddars in th$
.,.ant no bid is the; l1.ighe.st;
(3) On bids f.1' 10$$ than the ~nl.ti:re1s$u$q in the event
of avard oftM i$sue in blocks Ituu$tllan tho whQle issue,. the
Board of Supervisors reS$rves the :riqht to apportion .th$ bond$
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to th& hiqh~st bidd~r$. No bidder ahall speoify $1lY bond
serial n~r as a (;)ondit ion to the bid. The Board or
$upervi$or$ shall det$nlinethe $mOUnt of bonds and the serial
.;<J number of bonds to 00 awuded to the h1<;1he$t bidder or bidders
bascd on MY bid made;
(") fhe Do,ud of Supel'vi$ot's shall detenn.ineon the
hasilof tN bid $. 1'"oe;1 "led whether the lnt.t$,tQf tM property
owners '\'lithin the Iaprovement District will be best served by
6&1111'lO' thei$$ll$ ~tl a '4hol$ or in blocks leas than thewMla
i:3$uea
( 5) Thill Board of SUp$rvisors re$$rves the right to n je at
any or all bids including bids based upon. any term or tenu'S
other than. those appearing1\"rein;
( 6 ) Bias shall beaad.eaacordll1iJ to the form of proposal
prepared by the tr~a.surer I C<:mnt'1of Hawaii.;
(1) All bids shall b$$.ocom.pan1ed by a. deposit of
certified check Qrcashial"'$ ch$clt drawn on & bank dolnq
h'tts1ne$$ within the st~t$ <:>1 Hawaii. f01: oX' ina$UEl~al to
51. of the par value of the muimum number of h<>nd$ bid for,
Piil1abl$ at sight to the trea.$Uret II County of Hawsi 1fcPl'OV ided
that when the par va]:ue of tha a.aximum llumber of bond$ bid for
axoeed.s $ltOOOqOQO.OOqc th0 o$ttif1$d check oX' cashier's <:tu~ok
shall be ror$SO,OOO.OO p1u$210 of the _ount in exoess thereof*,
Cht!.t<:.tot the auccesetul bidder w111 be applied toward pey:m,ent
foX' th~ P1U'CMS$ pr1Qeof thfJ bonds and aoo:t1.1.edinterest.
Chedk$ of all unsuo<.f$,$$f\il bidders will he rcet\lrned 1~diately
after the :bid QpEUt1ng or as 1JQon thereafter as the nonaal course
of business allows. In the 9vent that an award is made to any
suede_slul bidder andsald bidder fails to p$y the balance du.e
in cash upon tead$I' by said Treasurer of t_ l'lu.m1>er of bonds
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a~arded, 't.ha depO$.lt shall be forfe! ted to thG County of Hawaii
to be cashed by it.s flreasurer and deposited in the General
l:"und;
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( a) Each su.ccfis.$fulhidder to tfhom bond$ ara awarded
shall pay to the fr~a$urGr of the County of Hawaiio in additlo~
to thQ amount of his bidq a sum equal to the amount of interest
accrued on t~ bonds &lIarded fr~ their data t(Lthe date of
payment for the bonds;
(9) De Ii Teryof the fully exeoutoohonas will be made)
in Honolu.lu, liawaii" at the it'lX'l:>ense of the County of Haw-aii
on Janulu"y 15, 1966~ or as sl'\QrtlytMreafter as possibleq
or el$G'lIh~re at the expense of t;heptu'qhaser~ In th$ event
that prior to the d~liveiry of any or the bonds to the suocessful
bidders therefoJ'9 th~ interest on the said bonds sha.ll become
taxable by virtue of any change in the federal to: requla.tion"
thliJ $uceessful bidder '~ay in his el~eticn be relieved of hi$
obligations topu.Chase $8.1d Poh:iso
Dated at 111109 Ii$:waii" thi$ 1st
day of .. Decem,.qer. .
n ;)
1965..
!:t'lrROOUCED BY:
(SGD) R. M. JITCHAKU
Supervisor # l~;'
Senator tal
Distriot..
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