HomeMy WebLinkAboutRES 467 Draft 02 1972-1976 County of Hawaii—State of Hawaii
Resolution No. 467
A RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF
GENERAL OBLIGATION BOND ANTICIPATION NOTES OF THE
COUNTY OF HAWAII IN AN AMOUNT NOT TO EXCEED $5,000,000
AS AUTHORIZED BY ORDINANCE NO. 139 OF THE COUNCIL OF
THE COUNTY OF HAWAII ADOPTED ON AUGUST 20, 1975, IN
ANTICIPATION OF THE ISSUANCE AND SALE OF GENERAL OBLIGA-
TION BONDS OF THE COUNTY OF HAWAII AUTHORIZED BY SAID
ORDINANCE NO. 139.
WHEREAS, Ordinance No. 139, adopted by the Council of the
County of Hawaii on August 20, 1975, authorized the issuance and
sale of $10,000,000 principal amount of general obligation bonds
of the County of Hawaii, none of which bonds have been issued
and sold; and
WHEREAS, said Ordinance No. 139 also authorized the issuance
of sale of general obligation bond anticipation notes in anti-
cipation of the issuance and sale of the general obligation bonds
authorized therein, norms of which notes have been issued and sold;
and
WHEREAS, the Council of the County of Hawaii deem it
advisable and in the best interest of the County of Hawaii to
issue from time to time general obligation bond anticipation
notes of the County authorized by Ordinance No. 139 in a principal
amount not to exceed $5,000,000 in anticipation of the issuance
and sale of the bonds authorized by said Ordinance No. 139;
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY
OF HAWAII, STATE OF HAWAII:
SECTION 1. The Director of Finance of the County of
Hawaii is hereby authorized to sell at public or private sale,
and to provide for the issuance of, general obligation bond
anticipation notes of the County of Hawaii in a principal amount
not to exceed $5,000,000. Such notes may be sold at one time
or from time to time in part, as shall be determined by the
Director of Finance.
SECTION 2. Said general obligation bond anticipation
notes shall be executed by the manual signatures of the Mayor
and Director of Finance of the County of Hawaii. The issuance
and sale of said general obligation bond anticipation notes
shall, in all respects, be governed by the provisions of
Section 47-2. 2, Hawaii Revised Statutes, as amended. The
Director of Finance, without further authorization by this
Council, but in accordance with and subject to the provisions
of Section 47-2. 2, Hawaii Revised Statutes, as amended, and
this resolution, is hereby authorized to determine and fix:
the form of said notes; the designation, if any, of said notes;
the date or dates of said notes; the rate or rates of interest
per annum said notes shall bear, not to exceed eight per centum
(8%) per annum; the interest payment date or dates of said notes;
the maturity date or dates of said notes; the place or places of
payment of said notes, if any, in addition to the office of the
Director of Finance; whether or not the notes shall be subject
to redemption prior to the stated maturity and if subject to
such prior redemption the provisions for such prior redemption
and the premiums, if any, payable upon such redemption and the
respective periods in which such premiums are payable; and
whether or not said notes shall be registrable as to principal
only or as to both principal and interest, and if registrable
the place of such registration and register therefor.
SECTION 3. The full faith and credit of the County of
Hawaii are hereby pledged to the payment of the principal of
and interest on the notes. The interest on the notes shall be
RESOLUTION NO. 467
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paid from the general fund of the County of Hawaii and the
principal thereof shall be paid from the proceeds of the sale
of the bonds in anticipation of which the notes have been issued
or from any money in the general fund available therefor.
SECTION 4. This resolution shall take effect immediately.
INTRODUCED BY
CO UN IL MEMBER, COUNTY OF HAWAII
ROLL CALL VOTE
COUNTY COUNCIL - -
County of Hawaii AYES NOES A/E
Carpenter
Hilo, Hawaii
De Luz x
I hereby certify that the foregoing RESOLUTION was by the vote indicated to Fujii x
the right hereof adopted by the COUNCIL of the County of Hawaii on. Hisaoka x
Kawahara x
November 5 , 1975 _ LW•
x
Levin x
ATTEST: Yadao x
Yamada x
0+14
tiP4-4. -
Reference:
C-1406 .2/FC-56
Ted T. Suzuki Robert M. Yamad
COUNTY CLERK CHAIRMAN & PRESID G OFFICER ,r
RESOLUTION NO. 467, as amended
HPL