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COUNTY OF HAWAII1•f �yi \'r, STATE OF HAWAII <br /> ��'�'� BILL NO. 196 <br /> fir[Gf•NPi� <br /> ORDINANCE NO. <br /> AN ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE <br /> COUNTY OF HAWAII FOR THE PURPOSE OF FUNDING ALL OR A PORTION OF THE COSTS <br /> OF VARIOUS IMPROVEMENT PROJECTS; FIXING THE FORM, DENOMINATIONS, AND <br /> CERTAIN OTHER DETAILS OF SUCH BONDS AND PROVIDING FOR THEIR SALE TO THE <br /> PUBLIC; AND AUTHORIZING THE TAKING OF OTHER ACTIONS RELATING TO THE <br /> ISSUANCE AND SALE OF THE BONDS. <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. Findings and Determinations. The County Council hereby determines <br /> sale and delivery of general obligation bonds of the County in an aggregate principal amount not to exceed <br /> $10,600,000(the"Bonds")for the purpose of funding all or a portion of the costs of the County Projects referred <br /> to in Section 2 hereof. <br /> SECTION 2. Authorization of Bonds. There are hereby authorized for issuance and sale,in one <br /> or more series,Bonds of the County,in an aggregate principal amount not to exceed$10,600,000,for the purpose <br /> of funding all or a portion of the costs(including costs of issuance of the Bonds)of public improvement projects <br /> of the County(collectively,the"Projects")authorized under Ordinance 15-58,being the capital budget ordinance <br /> of the County for the fiscal year ending June 30,2016, as heretofore or hereafter amended from time to time, or <br /> under the capital budget ordinance of the County for any prior or subsequent fiscal year. <br /> SECTION 3. Details of Bonds. The Bonds authorized for issuance and sale hereunder shall be <br /> issued and sold in one or more or as part of a series of other general obligation bonds of the County, all as shall <br /> be determined by the Director of Finance to be in the best interest of the County. The Bonds of a series shall be <br /> issued in fully registered form without coupons in the denomination of$5,000 or any integral multiple of$5,000, <br /> or in such other denominations as the Director of Finance shall determine. The Bonds of a series shall be <br /> numbered from 1 upwards in chronological order of delivery or shall be numbered in any other manner as the <br /> Director of Finance shall determine. The Bonds of a series shall mature annually on such day in each year in <br /> substantially equal installments of principal or in substantially equal installments of principal and interest, the <br />