HomeMy WebLinkAboutRES 169 Draft 01 1998-2000 COUNTY OF HAWAII STATE OF HAWAII
RESOLUTION NO. 169 99
A RESOLUTION AUTHORIZING AND PROVIDING FOR TH6 INCURRRNC6 OF INDRBTHDN6SS FOR
THB PURPOSE OF PROVIDING A PORTION OF THS COSTS OF CONSTRUCTING THS EAST
HAWAII POLICE DBTRNTION FACILITY.
WHSR6AS, it is necessary for the County of Hawaii to raise a portion
of the costs of constructing the Bast Hawaii Police Detention Facility by
issuing its bonds in the principal amount of X1.5 million pursuant to the
provisions of Chapter 47 of the Hawaii Revised Statutes; and
WHBRRAS, the County intends to obtain assistance from the Farmers
Home Administration, United States Department of Agriculture, in the Financing
of such undertaking.
NOW, THRRRFORB BE IT RHSOLVRD BY THg COUNCIL OF THS COUNTY OF HAWAII
that the Nayor of the County of Hawaii is hereby authorized and empowered to
take all action necessary or appropriate in the execution of all written
instruments as may be requested to such loans and to construct the facility
under the terms offered in said loan agreement, the provisions of which shall
be incorporated herein upon such execution.
Dated: Hilo, Hawaii, this day of 1999.
INTRODUCED BY:
~I f
COUNCIL M6NBRR, COUNTY OF HAWAII
COUNTY COUNCIL
County of Hawaii ROLL CALL VOTE
H1~0, Hawaii AYES NOES ABS EX
ARAKAKI
I hereby certify [hat the foregoing RESOLUTION was by CHUNG
the vote indicated to the right hereof adopted by the COUNCIL of the ELARIONOFF
County of Hawaii on
IACOBSON
ATTEST: LEITHEAD-TODD
PISICCHIO
SMITH
TYLER
YAGONG
Reference: C-526/FC
COUNTY CLERK CHAIRMAN & PRESIDING OFFICER gESOLUTION N0.
Position 5
USDA LOAN RESOLUTION
Forrn RD 1942-47 FORM APPROVED
(Rev. 12-97) (Public Bodies) OMB NO. 0575-0015
ARESOLUTIONOFTHE County Council
OF THE County of Hawaii
AUTHORIZING AND PROVIDING FOR THE INCURRENCE OF INDEBTEDNESS FOR THE PURPOSE OF PROVIDING
A PORTION OF THE COST OF ACQUIRING, CONSTRUCTING, ENLARGING, IMPROVING, AND/OR EXTENDING ITS
East Hawaii Police Detention
FACILITY TO SERVE AN AREA LAWFULLY WITHIN ITS JURISDICTION TO SERVE.
WHEREAS, it is necessary for the County of Hawaii
(Public Bodr•)
(herein after called Association) [o raise a portion of the cost of such undertaking by issuance of its bonds in [he principal amount of
One Million Five Hundred Thousand Dollars
pursuant to the provisions of Chapter 47 of the Hawaii Revised Statutes ;and
WHEREAS, [he Association intends [o obtain assistance from the Rural Housing Service, Rural Business -Cooperative Service, Rural
Utilities Service, or their successor Agencies with the United States Department of Agriculture, (herein called the Govemment) acting
under the provisions of [he Consolidated Farm and Rural Development Act (7 U.S.C. 1921 et seq.) in the planning, financing, and
supervision of such undertaking and the purchasing of bonds lawfully issued, in the event that no other acceptable purchaser for such
bonds is found by [he Association:
NOW THEREFORE in consideration of [he premises the Association hereby resolves:
L To have prepared on its behalf and to adopt an ordinance or resolution for the issuance of its bonds containing such items and
in such forms as are required by State statutes and as are agreeable and acceptable to the Govemment.
2. To refinance [he unpaid balance, in whole or in part, of its bonds upon the request of the Government if at any time it shall
appear [o [he Government [ha[ [he Association is able to refinance its bonds by obtaining a loan for such purposes from
responsible cooperative or private sources at reasonable rates and terms for loans for similar purposes and periods of time as
required by section 333(c) of said Consolidated Furor and Rural Development Act (7 U.S.C. 1983(c)).
3. To provide for, execute, and comply with Forrn RD 400-4, "AssuranceAgreemen[," and Form RD 400-I, "Equal Opportunity
Agreement," including an "Equal Opportunity Clause;' which clause is to be incorporated in, or attached as a rider to, each
construction contract and subcontract involving in excess of $10,000.
4. To indemnify the Government for any payments made or losses suffered by [he Government on behalf of [he Association.
Such indemnification shall be payable from [he same source of funds pledged to pay the bonds or any other legal permissible
source.
5. That upon default in the payments of any principal and accrued interest on the bonds or in the performance of any covenant
or agreement contained herein or in the instruments incident [o making or insuring the loan, the Government at its option may
(a) declare [heen[ire principal amount then outstanding and accrued interest immediately due and payable, (b) for the account
of theAssociation (payable from the source of funds pledged to pay the bonds or any other legally permissible source), incur
and pay reasonable expenses for repair, maintenance, and operation of the facility and such other reasonable expenses as may
be necessary to cure the cause of default, and/or (c) Wke possession of the facility, repair, maintain, and operate or rent it.
Default under [he provisions of this resolution or any instrument incident [o the making or insuring of [he loan may be
construed by the Govemment to constitute default under any other instrument held by the Govemment and executed or
assumed by [he Association, and default under any such instrument may be construed by the Govemmem[ to constitute
default hereunder.
6. Not to sell, transfer, lease, or otherwise encumber the facility or any portion thereof, or interest therein, or permit others to do
so without the prior written consent of the Govemment.
7. No[ to defease the bonds, or to borrow money, enter into any contract or agreement, or otherwise incur any liabilities for any
purpose in connection with the facility (exclusive of normal maintenance) without the prior written consent of the Govemment
if such undertaking would involve the source of funds pledged to pay [he bonds.
8. To place [he proceeds of the bonds on deposit in an account and in a manner approved by the Government. Funds may be
deposited in institutions insured by the State or Federal Government or invested in readily marketable securities backed by
the full faith and credit of [he United States. Any income from these accounts will be considered as revenues of the system.
9. To comply with all applicable State and Federal laws and regulations and to continually operate and maintain [he facility in
good wndition.
l0. To provide for the receipt of adequate revenues to meet the requirements of debt service, operation and maintenance, and the
establishment of adequate reserves. Revenue accumulated over and above that needed to pay operating and maintenance,
debt service and reserves may only be retained or used to make prepayments on the loan. Revenue cannot be used [o pay any
expenses which are no[ directly incurred for [he facility financed by [he Govemment. No free service or use of the facility
will be permitted.
Aetording to the Paperwork Neduttinn An of /YYS. nn persons are required m respond m a eallrttlan oJlnfnrmarinn unless rt displai v a raGd OMB ,morn/ numAer. Thr vn(id OMB rnmrn!
umber for this infarnwrinn rallernun is 0575-00/5 The time required m rnmpfete rhis mfnrmaGun rnllec~iorr is esrimam-d m areruge ~ hour per response, inr(udzny the nme /or reriewn,g
(nsvuctions, searching essrtng data sources. Ralhering and mainmininR the data needed, and rumpleNng and rrr,ewing the cnl7ernno n(in/ormalion
-3
CERTIFICATION TO BE EXECUTED AT LOAN CLOSING
I, [he undersigned, as of [he
hereby certify that the of such Association is composed of
members, of whom , constituting a quorum, were present at a meeting thereof duly called and
held on the day of , 19 ;and [ha[ [he foregoing resolution was adopted at such meeting
by [he vote shown above. I further certify that as of ,
[he date of closing of the loan from the Government, said resolution remains in effect and has not been rescinded or amended in any way.
Dated, this day of ,19 .
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