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COUNTY OF HAWAII STATE OF HAWAII <br />BILL NO. 142 <br />ORDINANCE NO. <br />AN ORDINANCE AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $775,600 <br />PRINCIPAL AMOUNT OF GENERAL OBLIGATION BONDS OF THE COUNTY OF <br />HAWAII, THE PROCEEDS DERIVED FROM THE SALE OF WHICH ARE TO BE <br />EXPENDED BY THE DEPARTMENT OF WATER SUPPLY FOR THE PURPOSE OF <br />CONSTRUCTING AND ACQUIRING IMPROVEMENTS AND BETTERMENTS TO, AND <br />EXTENSIONS OF, THE PROPERTIES OF THE WATER SYSTEM OF THE DEPARTMENT <br />OF WATER SUPPLY, TO BE KNOWN AS THE OOKALA, PAAUILO AND PAAUHAU <br />IMPROVEMENTS, INCLUDING THE ACQUISITION OF NECESSARY LANDS <br />THEREFOR; AND TO SECURE THE PAYMENT OF A LOAN BY THE UNITED STATES <br />OF AMERICA, DEPARTMENT OF AGRICULTURE; AND FIXING THE FORM, <br />DENOMINATIONS, AND CERTAIN OTHER DETAILS OF SUCH BONDS AND <br />PROVIDING FOR THEIR SALE. <br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br />that: <br />SECTION 1. Findings and Determinations. It is hereby found and determined <br />A. The Department of Water Supply of the County of Hawaii has requested the <br />County Council to authorize the issuance and sate of general obligation bonds of the <br />County in the principal amount of Seven Hundred Seventy Five Thousand Six Hundred <br />Dollars ($775,600), the proceeds derived from the We of which are to be expended by the <br />Department of Water Supply for the purpose of constructing and acquiring improvements <br />and betterments to, and extensions of, the properties of the Water System of the <br />Department of Water Supply, to be known as the Ookala, Paauilo and Paauhau <br />improvements including the acquisition of necessary lands therefor (the "Water System <br />Improvements"); <br />