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HomeMy WebLinkAboutRES 440 Draft 01 1958 COUNTY OF HAWAII -TERRITORY OF HAWAII RESOLUTION NO. WHEREAS, by Act 289 of the Session Laws of Hawaii 1957,. it is'provided that the Board of Supervisors of the County of Hawaii is authorized and empowered to issue bonds of said County in the sum of Two Million Dollars ($2,000,000) for public building and in the sum of Two Hundred Fifty Thousand Dollars ($250,000) for public parks, in the County of Hawaii; and WHEREAS, the County of Hawaii has not heretofore issued any bonds, pursuant to said Act 289, for public building or for public park purposes of said County, and it is now desired to provide for the issuance and sale of Nine Hundred Thousand Dollars ($9009000) bonds at this time, and to apply Six Hundred Fifty Thousand Dollars ($650,000) of the proceeds for public building purposes, and Two Hundred Fifty Thousand ($2509000) of the proceeds for public parks purposes; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE COUNTY OF HAWAII, TERRITORY OF HAWAII: 1. That the Treasurer of the County of Hawaii be and he hereby is directed to have prepared for sale and to sell according to law and subject to the approval of the Board of ,Supervisors Nine Hundred Thousand Dollars ($900,000) Public Improvement Bond's of the County of Hawaii as provided by Act 289 of the Session Laws of Hawaii 1957, aforesaid, said bonds to be serial bonds, dated August 1, 1958, numbered from 1 to 900, inclusive, of the denomination of $1,000 each and payable serially in numerical order Fifty Thousand Dollars ($50,000) bonds on August 1 in each of the years 1961 to 1978, inclusive. S aid bonds. shall bear interest at such rate or rates not exceeding five per centum (5/) per annum as shall be fixed at f the time of the sale thereof, interest to be payable semi- annually February 1 and August 1, and all of said bonds and coupons to be attached thereto shall be in substantially the following form, to-wit: UNITED STATES OF AMERICA TERRITORY OF HAWAII COUNTY OF HAWAII PUBLIC IMPROVEMENT BOND Noo~ $1,000 The County of Hawaii, Territory of Hawaii, for value received hereby promises to pay to bearer the sum of One Thousand Dollars ($1,000) in lawful money of the United States of America on the day of , 19 , with interest thereon at the rate of per centum ( per annum., payable semi"annually on.the day of and the day of upon presentation and surrender of the interest coupons hereto attached as they severally become due. The principal of and interest on.this bond are exempt from any and all taxes whatsoever, and this bond is a general obligation of the County of Hawaii payable as to both principal and interest from the consolidated revenues of the.County of Hawaii. Both the principal of and interest on this bond are payable at the office of the Treasurer of the County of Hawaii at Hilo, Territory of Hawaii, or, at the option of the holder hereof, at the Chemical Corn Exchange Bank, in the City and State of New York. This bond; is one of an issue of bonds issued for Public Improvement purposes in the County of Hawaii, and is issued under and pursuant to Act 289 of the Session laws. of -2- Hawaii 1957, and also pursuant to Chapter 139 of the Revised Laws of Hawaii 1955, and acts amendatory thereof and supplemental thereto. It is hereby certified, recited and declared that- .all conditions, acts and things essential to the validity of this bondvand the issue of'which it forms a.part-exist, have happened and have been done,, and.that every requirement of law affecting the issue thereof has been duly complied with;. and that the amount of this bond and the issue of'which it forms a part, together-with all other indebtedness of the County of Hawaii, does not exceed any debt or other limit prescribed by the laws of the United States or of the'Territory of Hawaii, and that the full faith and credit of the County of Hawaii are hereby irrevocably pledged to the punctual payment of the principal of and interest on this bond, according to its terms. IN WITNESS .WHEREOF, the County of Hawaii has caused this bond to be signed by its Treasurer, to bear the 'li'tl ographed facsimile signatures of the Chairman of its Board of Supervisors and its Auditor, to bear a lithographed facsimile of its seal, the interest coupons hereto attached to bear the lithographed facsimile signature of its Treasurer and this bond to be dated as of the day of 1958. Chairman, Board of Supervi-' sors Treasurer COUNTERSIGNED Auditor -3- f (FORM OF COUPON) No. $ The County of Hawaii, Territory of Hawaii, will pay to bearer the sum of Dollars ) on the day of 19 , at the office of the Treasurer of the County of Hawaii, Hilo, Hawaii',- or, at the option of the holder, at the office of the Chemical Corn Exchange Bank, in the City of New York, State of New York, being six months' interest then due on its Public Improvement Bond, dated , 1958, No. Treasurer 2. That all resolutions and all parts of resolutions in conflict herewith be and the same are hereby repealed, and this.resolution shall take effect immediately. Introduced by: Supervisor, Representative District Dated at Hilo, Hawaii June 4, 1958 .}u -4-