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COUNTY OF HAWAII STATE OF HAWAII <br /> BILL NO. 209 <br /> Draft 2 <br /> ORDINANCE NO. <br /> AN ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF <br /> THE COUNTY OF HAWAII FOR THE PURPOSE OF FINANCING VARIOUS PUBLIC <br /> IMPROVEMENTS OF THE COUNTY OF HAWAII; FIXING THE FORM, DENOMINATIONS, <br /> AND CERTAIN OTHER DETAILS OF SUCH BONDS AND PROVIDING FOR THEIR SALE; <br /> AND AUTHORIZING THE ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF <br /> GENERAL OBLIGATION BOND ANTICIPATION NOTES IN ANTICIPATION OF THE <br /> ISSUANCE AND SALE OF SUCH BONDS AND APPROPRIATING FUNDS FOR THE COSTS <br /> OF THE ISSUANCE OF SUCH BONDS. <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. Findings and Determinations. It is hereby found and determined that <br /> appropriations for public improvement projects of the County of Hawaii, Hawaii to be financed from <br /> general obligation bond funds have been made in Ordinance No. 96 -68, as amended, Ordinance No. <br /> 97 -82, as amended, and Ordinance No. 98 -50, as amended, for the fiscal years ending June 30, 1997, <br /> June 30, 1998, and June 30, 1999, respectively. It is hereby further found and determined that it is <br /> advisable and in the best interest of the County to authorize the issuance and sale of general obligation <br /> bonds of the County in the maximum principal amount of $20,000,000, the proceeds derived from <br /> the sale of which shall be used to pay all or a part of the costs of appropriations referred to above and <br /> to pay all or a part of the costs of issuance of such bonds. <br /> SECTION 2. Authorization of Bonds. There are hereby authorized for issuance and <br /> sale general obligation bonds of the County (the "Bonds ") in the maximum principal amount of <br />