ORD 2012-077 2010-2012 - Laserfiche WebLink

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COUNTY OF HAWAII STATE OF HAWAII BILL NO. 222 (DRAFT 2) ORDINANCE NO. 12 7? AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO $31,000,000 AGGREGATE PRINCIPAL AMOUNT OF GENERAL OBLIGATION BONDS OF THE COUNTY OF HAWAII FOR THE PURPOSE OF FUNDING ALL OR A PORTION OF THE COSTS OF A POLICE LAND MOBILE RADIO UPGRADE PROJECT OF THE COUNTY; FIXING THE FORM, DENOMINATIONS, AND CERTAIN OTHER DETAILS OF SUCH BONDS AND PROVIDING FOR THEIR SALE TO THE PUBLIC; AND AUTHORIZING THE TAKING OF OTHER ACTIONS RELATING TO THE ISSUANCE AND SALE OF THE BONDS. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: SECTION 1. Findings and Determinations. The County Council hereby determines and finds that it is advisable, expedient and in the best interest of the County to authorize the issuance, sale and delivery of general obligation bonds of the County in an aggregate principal amount not to exceed $31,000,000 (the "Bonds ") for the purpose of funding all or a portion of the costs (including costs of issuance of the Bonds) of the Police Land - Mobile Radio Upgrade Project authorized by the County's capital budget ordinance for the 2011 -2012 fiscal year (Ordinance No. 11 -60, as the same may be amended from time to time) (the "Project "). SECTION 2. Authorization of Bonds. There are hereby authorized for issuance and sale, in one or more series, Bonds of the County in an aggregate principal amount not to exceed $31,000,000, for the purpose of funding all or a portion of the costs (including costs of issuance of the Bonds) of the Project. SECTION 3. Details of Bonds. The Bonds authorized for issuance and sale in Section 2 hereof shall be issued and sold in one or more series, or as part of one or more series of other general obligation bonds of the County, all as shall be determined by the Director of Finance to be in the best interest of the County. The Bonds of a series shall be issued in fully registered form without coupons in the denomination of $5,000 or any integral multiple of $5,000, or in such other denominations as the Director of Finance shall determine. The Bonds of a series shall be numbered from 1 upwards in