HomeMy WebLinkAboutRES 050 Draft 01 1976-1980County of Hawaii—State of Hawaii
Resolution No:-' 50
WHEREAS, Resolution No. 586, adopted by the Council of the
County of Hawaii on June 2, 1976, authorized the loan of funds
from the Farmers Home Administration, United States Department
of Agriculture, for assistance in constructing the Kulaimano
Sewerage System;
WHEREAS, County funding of this project was authorized as
follows:
Ordinance No. 586 (7/1/73) $100,000
Ordinance No. 46 (7/1/74) 150,000
Ordinance No. 128 (7/1/75) 250,000
$500,000; and
WHEREAS, the County wishes to amend Resolution No. 586 by
increasing the principal sum of the loan to an amount not exceeding
$500,000 and by clarifying the language in certain paragraphs of
such resolution;
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY
OF HAWAII that Resolution No. 586 dated June 2, 1976, be amended
in the following respects:
1. That the principal sum of loan funds be an amount not
exceeding Five Hundred Thousand Dollars ($500,000);
2. That paragraph 4 of Resolution No. 586 be amended by
deleting the period at the end of the sentence, and adding
thereto, the following language: "to the extent not inconsistent
with applicable State laws and the proceedings authorizing the
issuance of the bonds, provided that no obligation shall be
deemed incurred pursuant to this paragraph in excess of that
represented by the bonds.";
3. That paragraph 5 be amended by adding a new sentence to
read: "The foregoing remedies shall apply only to the extent
that they are not inconsistent with applicable State laws and
the proceedings authorizing the issuance of the bonds."
4. That paragraph 6 be amended by replacing the period at
the end of the sentence with a comma, and adding thereto the
following language: "which consent shall not be unreasonably
withheld."
5. That paragraph 7 be amended by adding a new sentence
to read: "The foregoing limitations shall not apply to general
obligation bonds or to revenue bonds not payable exclusively
from revenues generated by the Government financed facility."
Dated at Hilo, Hawaii, this 6th day of April
1977.
COUNTY COUNCIL
County of Hawaii
Hilo, Hawaii
INTRODUCED BY:
ouncilman,
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
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ATTEST:
R. B. LEGASHARVEY
PI I
COUNTY CLERK CHAIRMAN 8 PRESIDING OFFICER
ty of Hawaii
ROLL
CALL VOTE
AYESI NOES A/E
Dahlberg
x
Domingo
x
Fujii
x
Garcia
Kawahara
x
Lai
x
Sameshima
x
Yamashiro
x
Chr. Tajiri
x
C-210/FVJC- 7
Reference: .............................................................
M.B. No. ...__..._ ..........................._ - ... ...
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RESOLUTION NO. ......5.�................... ...........
HPL