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HomeMy WebLinkAboutRES 270 Draft 01 1976-1980 County of Hawaii—State of Hawaii Resolution No. 270 ACCEPTING A PROPOSAL TO PURCHASE PUBLIC IMPROVEMENT REFUNDING BONDS , 1978 SERIES OF THE COUNTY OF HAWAII ; STATE OF HAWAII , AUTHORIZING AND APPROVING OFFICIAL STATEMENTS PERTAINING TO SAID BONDS ; AND OTHER MATTERS RELATING THERETO. BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII : Section 1. The Council (the "Council" ) of the County of Hawaii, State of Hawaii (the "County" ) hereby finds and determines that the bond purchase agreement (the "Purchase Agreement" ) dated May 15 , 1978, submitted to the Council by E. F. Hutton and Company Inc. on behalf of themselves and certain other firms and corporations (the "Purchasers" ) is fair and reasonable and in the best interests of the County and that the thirty seven million four hundred seventy-five thousand dollars ($ 37,475 ,000.00 ) , principal amount of Public Improvement Refunding Bonds, 1978 Series (the "Refunding Bonds" ) , of the County shall be sold to the Purchasers upon the terms and conditions set forth in the Purchase Agreement. Section 2. The Council hereby approves the form of the Purchase Agreement and each of the terms and conditions thereof and hereby authorizes and directs the Mayor of the County to execute the Purchase Agreement for and on behalf of the County and deliver the Purchase Agreement to the Purchasers, and further authorizes and directs all of the officers and employees of the County to carry out or cause to be carried out all the obligations of the County under the Purchase Agreement. Section 3. The Official Statement of the County setting forth certain information with respect to the Refunding Bonds , dated May 15 , 1978, presented to the Council at this meeting and referred to in the Purchase Agreement be and the same is hereby approved, and the Director of Finance of the County is hereby authorized and directed to execute copies of the Official Statement and deliver the same to the Purchasers. Section 4. The Council hereby authorizes the Official Statement together with the appendices thereto and the information contained therein, and the other documents and materials referred to in the Purchase Agreement, to be used in connection with the public offering and sale of the Refunding Bonds. Section 5. The distribution to prospective investors and purchasers of copies of the Preliminary Official Statement, dated May 6, 1978, with respect to the Refunding Bonds presented to the Council at this meeting is hereby ratified, approved and confirmed. Section 6. Copies of the aforesaid form of Purchase Agreement, Official Statement and Preliminary Official Statement shall be filed with the minutes of this meeting. Section 7. This resolution shall take effect upon its adoption. DATED at Hilo, Hawaii , this 15th day of May, 1978. INTRODUCED BY: .0-A0P Councilm„r: , C ty of Hawaii COUNTY COUNCIL ROLL CALL VOTE AYES• NOES A/E County of Hawaii Dahlberg x Hilo, Hawaii Domingo x I hereby certify that the foregoing RESOLUTION was by the vote indicated to Fujii 1 x the right hereof adopted by the COUNCIL of the County of Hawaii on. Garcia x r Kawahara x May 15 , 1978 Lai• -x Sameshima x ' ATTEST: Tajiri x Chr.Yamashiro x AtIttamto atAjtk, / 8 1 Reference: er.R.B. LEGASPI EP N K.Y SHIRO COUNTYh CLERK airman&Preing Officer M.B. No. 270 RESOLUTION NO.