HomeMy WebLinkAboutORD 1996-092 1994-1996ss 92
ORDINANCE NO.
AN ORDINANCE AMENDING ORDINANCE NO. 95-82 OF THE COUNTY OF
HAWAII ADOPTED ON JULY 51 1995, RELATING TO THE ISSUANCE
OF GENERAL OBLIGATION BONDS.
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
SECTION 1. Section 1 of Ordinance No. 95-82 is hereby
amended as follows:
"SECTION 1. Findings and Determinations. It is
hereby found and determined that appropriations for public
improvement projects of the County of Hawaii to be
financed from general obligation bond funds have been made
in Ordinance No. 93-50, as amended, Ordinance No. 94-70,
as amended, [and] Ordinance No. 95-75, as amended, and
Ordinance No. 96-68, as amended, for the fiscal years
ending June 30, 1994, June 30, 1995 [and], June 30, 1996
and June 30, 1997, respectively. It is hereby further
found and determined that it is advisable and in the best
interest of the County to authorize the issuance and sale
of general obligation bonds of the County in the maximum
principal amount of $30,000,000, the proceeds derived from
the sale of which shall be used to pay all or a part of
the costs of appropriations referred to above and to pay
all or a part of the costs of issuance of such bonds."
SECTION 2. Section 2 of Ordinance No. 95-82 is amended as
follows:
"SECTION 2. Authorization of Bonds. There are hereby
authorized for issuance and sale general obligation bonds
of the County (the "Bonds") in the principal amount of
Thirty Million Dollars ($30,000,000), the proceeds derived
from the sale of which shall be used to pay all or a part
of the costs of appropriations for public improvement
projects of the County to be financed from general
obligation bond funds made in Ordinance No. 93-50, as
amended, Ordinance No. 94-70, as amended, [and] Ordinance
No. 95-75, as amended, and Ordinance No. 96-68, as
amended, for the fiscal years ending June 30, 1994, June
30, 1995 [and] June 30, 1996 and June 30, 1997,
r,�
respectively, and to pay all or a part of the costs of
issuance of the Bonds, including, without limitation, the
initial fees of paying agents and registrars, the fees of
any financial consultants and bond counsel, underwriters'
discount, the cost of preparation of any official
statement, notice of sale and definitive bonds, and any
cost of publication required by law or as otherwise
appropriate. The cost of issuance of the Bonds shall be
allocated pro rata to each of the particular improvements
financed from the proceeds of the Bonds; and
appropriations therefor are hereby made. The proceeds
derived from the sale of the Bonds may be used to
reimburse the General Fund for funds theretofore borrowed
pursuant to resolutions of the County Council, if any, to
pay costs of certain appropriations made in Ordinance No.
93-50, as amended, Ordinance No. 94-70, as amended, [and]
Ordinance No. 95-75, as amended, and Ordinance No. 96-68,
as amended, to be financed from general obligation bond
funds. The proceeds may not be used for any plans,
financing or construction for the Kealakehe Golf Course."
SECTION 3. Material to t
material is underscored. In
brackets, bracketed material,
included.
e deleted is bracketed. New
printing this ordinance, the
and underscoring need not be
SECTION 4. This ordinance shall take effect upon its
approval.
INTRODUCED BY
AUERENCE; COMM --
1284 _
Hilo, Hawaii
Date of Introduction: August 7, 1996
Date of lst Reading: August 7, 1996
Date of 2nd Reading: August 15, 1996
Effective Date: August 15, 1996
AQP VE AS TO/FIRM AND LEGALITY:
Ddputy Corpordtion Counsel
f
OFFICE OF THE COUNTY CLERK
County of Hawaii
Hilo , Hawaii
Introduced By:
Date Introduced:
First Reading:
Published:
REMARKS:
Second Reading:
James Y. Arakaki
August 7, 1996
August 7, 1996
August 12, 1996
To Mayor:
Auqust
15,
1996
Returned:
August
15 ,
1996
Effective:
August
15 ,
1996
Published
August
26,
199 6
REMARKS:
I DO HEREBY CERTIFY that the foregoing BILL was adopted by the County Council a ublished as
indicated above.
Approve ��pmwed this day
of 19
WY)6R, CO LINTY f WAIL
a.-vuiv t i �vvi�n
Bill No.:
301
Reference:
C-1284/FC-282
0�zOrd. No.:
BOLL CALL 6TE
i � T :s.
AYES NOES ABS EX
Arakaki
X
Easley
X
Childs
X
De Lima
X
Domingo
X
Osorio
X
X
Ray
X
Smith
X
X
8 0 0 0
I DO HEREBY CERTIFY that the foregoing BILL was adopted by the County Council a ublished as
indicated above.
Approve ��pmwed this day
of 19
WY)6R, CO LINTY f WAIL
a.-vuiv t i �vvi�n
Bill No.:
301
Reference:
C-1284/FC-282
0�zOrd. No.:
ROLL CALL VOTE
AYES NOES
ABS EX
Arakaki
X
Easley
X
Childs
x
De Lima
X
Domingo
X
Osorio
X
Ray
X
Smith
X
6 0
2 0
I DO HEREBY CERTIFY that the foregoing BILL was adopted by the County Council a ublished as
indicated above.
Approve ��pmwed this day
of 19
WY)6R, CO LINTY f WAIL
a.-vuiv t i �vvi�n
Bill No.:
301
Reference:
C-1284/FC-282
0�zOrd. No.: