June r F3 atlmhu Gilt T 2C 19

Roolution

Preanteb by Hannibal Tavares

AUTHORIZING THE TREASURER OF THE COUNTY OF TERRITORY OF TO ISSUE AND SELL BONDS OF THE SAID COUNTY OF MAUI OF THE PAR VALUE OF 870900000 FOR THE CONSTRUCTION OF NEW PUBLIC SCHOOL BUILDINGS IN THE SAID COUNTY OF MAUI

WHEREAS the legislature of the by

Joint Resolution 20 Session Laws of Hawaii 1951 did expressly

empower and authorize the issuance and sale of bonds by the

County of Maui Territory of Hawaii in the sum of 150000000

if the limitations and requirements in the Hawaiian Organic Act

48 USCA Sec 562 and Chapter 117 of the Revised Laws of

Hawaii 1945 now being Chapter 139 of the Revised Laws of Hawaii

1955 concerning the total bonded indebtedness which may be in

curred by the said County at any time or in any one year shall be

waived as to such bonds by the Congress of the of

America and

WHEREAS under the provisions of said Joint Resolution 20

the proceeds from the sale of said bonds are authorized to be

expended for the purposes and in the amounts as follows

Construction of new public school buildings 1900000000

Flood control of Iao Stream 50000000

and

WHEREAS it is provided in said Joint Resolution 20 that

the same shall take effect immediately upon the enactment of

legislation by the Congress of the United States of America rati

fying the said Joint Resolution and authorizing such bond issue

notwithstanding the limitations of Section 55 of the said Hawaiian

Organic Act 48 USCA Sec 562 or any other law to the

contrary and WHEREAS subsequent to the passage of said Joint Resolu tion 20 by the legislature of the Territory of Hawaii and the approval thereof by the Governor of Hawaii the 82nd Congress of the United States of America at its 2nd Session did enact Public

Law 383 and Public Law 384 and the said Public Laws were approved by the President of the United States on the 9th day of June

1952 and

WHEREAS said Public Law 383 enables the legislature of the Territory of Hawaii to authorize the said County of Maui any provisions of the Hawaiian Organic Act or of any laws of the

Territory of Hawaii or of any act of the said Congress of the

United States of America to the contrary notwithstanding to issue general obligation bonds in the sum of 50000000 for the purpose of constructing flood control projects on the Iao Stream in the said County and the said Public Law did further ratify and confirm the portion of said Joint Resolution 20 pertaining to the issuance of public improvement bonds of the said County of

Maui for such purpose and

WHEREAS said Public Law 384 similarly enables the legis lature of the Territory of Hawaii to authorize the said County of Maui any provisions of the Hawaiian Organic Act or of any laws of the Territory of Hawaii or of any act of the said Congress of the United States of America to the contrary notwithstanding to issue general obligation bonds in the sum of 100000 for the purpose of constructing new public school buildings in the

said County and the said Public Law did further ratify and confirm

the portion of said Joint Resolution 20 pertaining to the issuance

of public improvement bonds of the said County of Maui for such purpose and

2 Refsolution Re JJ

WHEREAS each of said Public Laws 383 and 384 provides

that the bonds issued under authority thereof shall be serial

bonds maturing in substantially equal annual installments the

first installment to mature not later than five years from the

date of the issue of such series and the last installment not

later than thirty years from the date of such issue and each of

said Public Laws further provides that such bonds may be issued

without approval of the President of the United States and

WHEREAS under and by virtue of said Joint Resolution 20

Public Law 383 and the applicable provisions of Chapter 117 of the

Revised Laws of Hawaii 1945 the said County of Maui has hereto

fore issued Public Improvement Serial Bonds 1953 Issue in the

principal amount of 50000000 for the construction of flood

control improvements to the said Iao Stream being all of the

bonds of the said County authorized to be issued under said Joint

Resolution 20 Public Law 383 and the applicable provisions of

Chapter 117 of the Revised Laws of Hawaii 1945 for the said

purpose and

WHEREAS under and by virtue of said Joint Resolution 20

Public Law 384 and the applicable provisions of Chapter 117 of

the Revised Laws of Hawaii 1945 the said County of Maui has

heretofore issued Public Improvement Serial Bonds 1953 Issue in

the principal amount of 25000000 for the construction of new

public school buildings in the said County and Public Improvement

Serial Bonds 1956 Issue in the principal amount of 60000000

for the construction of new public school buildings in the said

County same being only a portion of the bonds of the said County

issuable under the statutes mentioned in this paragraph and the

3 Reotution

said County of Maui under said Joint Resolution 20 Public Law

384 and the applicable provisions of Chapter 117 of the Revised

Laws of Hawaii 1945 as amended by Chapter 139 of the Revised Laws

of Hawaii 1955 is now authorized to issue bonds of the said

County in the amount of 15000000 for the construction of new

public school buildings as aforesaid and

WHEREAS the legislature of the Territory of Hawaii by

Act 400 of the Session Laws of Hawaii 1949 as amended by Act 59

of the Session Laws of Hawaii 1951 did also expressly authorize

and empower the Board of Supervisors of the County of Maui to

issue from time to time general obligation bonds of the County

of Maui in accordance with the provisions of Section 55 of the

Hawaiian Organic Act 48 USCA Sec 562 and Chapter 117 of

the Revised Laws of Hawaii 1945 as amended by Chapter 139 of the

Revised Laws of Hawaii 1955 and to expend the proceeds of the sale

of such bonds for the construction of school buildings or for

additions to existing school buildings in the said County of

Maui and

WHEREAS under said Act 400 as amended and the provisions

of said Section 55 of the Organic Act and Chapter 139 of the

Revised Laws of Hawaii 1955 the County of Maui is authorized

and may at this time issue general obligation bonds in the amount

of 72000000 and

WHEREAS the Board of Supervisors of the County of Maui

has been advised and deems it necessary to issue general obliga

tion bonds of the County of Maui in the amount of 87000000

and to expend the proceeds thereof for the construction of necessary

new school buildings in the said County now therefore

4 Regotution

BE IT RESOLVED ky the Board of Supervisors of the County

of Maui Territory of Hawaii that it does hereby grant its

approval to the Treasurer of the County of Maui and he is hereby

authorized empowered and directed to prepare and issue public

improvement bonds of this County as hereinafter set forth in

the sum of 87000000 and to sell the same in accordance with

the provisions of Joint Resolution 20 Session Laws of Hawaii

1951 an Act of Congress of the United States of America being

Public Law 384 of the 82nd Congress 2nd Session approved on

June 9 1952 and in accordance with the provisions of Section 55

of the Hawaiian Organic Act Act 400 of the Session Laws of

Hawaii 1949 as amended by Act 59 of the Session Laws of Hawaii

1951 and Chapter 139 of the Revised Laws of Hawaii 1955 subject

to the approval of the President of the United States of America

as to the said entire bond issue of 87000000 and to do any

and all acts and things necessary for the issuance of such bonds

including the sale of such bonds in one issue as it may to the

Treasurer be deemed advisable and all of the proceeds derived

from the sale of such bonds shall be expended for the construction

of new public school buildings within the said County of Maui and

BE IT FURTHER RESOLVED that all such bonds shall be serial

bonds be dated August 1 1958 be of the denomination of 100000

each be numbered from 1 to 870 inclusive bear interest at the

rate as shall be fixed at the time of the sale thereof but not

exceeding five 5 per centum per annum payable semiannually on

February 1st and August lst and all such bonds shall be payable

serially in numerical order in nine equal installments of 6000000

each on August 1st in each of the years 1963 to 1971 inclusive

5 jf

and in six equal installments of 5500000 each on August lst in each of the years 1972 to 1977 inclusive as follows

Number Amount Maturity

1 60 6000000 August 1 1963

61 120 6000000 to 1964

121 180 60000000 If 1965

181 240 6000000 If 1966

241 300 6000000 If 1967

301 360 6000000 If It 1968

361 420 60000000 1969

421 480 6000000 s 1970

481 540 6000000 It 1971

541 600 55900000 It 1972

601 660 5500000 it 1973

661 720 5500000 It 1974

721 770 55000000 If it 1975

771 820 5500000 If 1976

821 870 55100000 it of 1977 and

BE IT FURTHER RESOLVED that the principal of and interest on sai d bonds shall be payable at the office of the Treasurer of the County of Maui in the County Bu ilding at Wailuku Maui

Territ ory of Hawaii or at the option of the holder thereof at the of fice of the Bankers Trust Compan y in the City of New York

State of New York and all bonds of this issue and the interest coupon s to be attached thereto shall be substantially in the following forms towit

6 Roof ltion i0o

FORM OF BOND

UNITED STATES OF AMERICA

Number SEAL OF THE Number

COUNTY OF MAUI

1000 TERRITORY OF HAWAII 1000

TERRITORY OF HAIVIAII

COUNTY OF MAUI

PUBLIC IMPROVEMENT SERIAL BOND 1958 ISSUE

KNOVI ALL MEN BY THESE PRESENTS that the COUNTY OF MAUI

TERRITORY OF HAWAII for value received hereby promises to pay

to the bearer or if this bond be registered to the registered

holder hereof the sum of

ONE THOUSAND DOLLARS

100000 on the first day of August 19 with interest

thereon at the rate of per centum per annum payable

semiannually on the first day of February and on the first day

of August on the presentation and surrender of the interest

coupons hereto attached as they severally become due Both the

principal of and interest on this bond are payable in any coin

or currency of the United States which at the time of payment

shall be legal tender for public and private debts

The principal of and interest on this bond are exempt from

any and all taxes whatsoever and this bond is a general obligation

of the County of Maui and the payment of such principal and

interest constitutes a charge upon the consolidated revenues of

the County of Maui Territory of Hawaii

7 Roolution dot

Both the principal of and interest on this bond are

payable at the office of the Treasurer of the County of Maui

in the County Building at Wailuku Maui Territory of Hawaii

or at the option of the holder hereof at the office of the

Bankers Trust Company in the City of New York State of New

York

This bond may be registered as to principal on books kept

at the office of the Treasurer of the County of Maui in accordance

with the provisions endorsed hereon

This bond is one of a total issue numbered consecutively

1 to 870 both inclusive the aggregate amount of which is limited

to the principal sum of 87000000 and is issued under and

pursuant to Joint Resolution 20 of the Session Laws of Hawaii

1951 and an Act of Congress of the United States of America

entitled An Act to enable the Legislature of the Territory of

Hawaii to authorize the County of Maui Territory of Hawaii to

issue public improvement bonds for the construction of new public

school buildings same being Public Law 384 enacted by the 82nd

Congress of the United States of America at the 2nd Session

approved on June 9 1952 and under Section 55 of the Hawaiian

Organic Act Act 400 of the Session Laws of Hawaii 1949 as

amended by Act 59 of the Session Laws of Hawaii 1951 and pursuant

to the provisions of Chapter 139 of the Revised Laws of Hawaii

1955 and acts amendatory thereof not inconsistent with the

said Act of Congress and Joint Resolution 20 of the Session Laws

of Hawaii 1951

It is hereby certified recited and declared that all con

ditions acts and things essential to the validity of this bond

and the issue of which it forms a part exist have happened and

8 Keolutcon to

have been done and that every requirement of law affecting the

issue thereof has been duly complied with and that this bond

and the issue of which it forms a part are authorized by the acts

hereinabove mentioned and within any debt or other limit pre

scribed by the laws of the United States and the Territory of

Hawaii and that the full faith and credit of the County of Maui

are hereby irrevocably pledged to the punctual payment of the

principal of and interest on this bond according to its terms

IN WITNESS WHEREOF the COUNTY OF MAUI has caused this bond

to be signed by its Deputy Treasurer and to bear the lithographed

facsimile signatures of its Chairman and Executive Officer of the

Board of Supervisors and its Auditor and its official seal to

be affixed hereto and the coupons hereto attached to be executed

with the lithographed facsimile signature of its Deputy Treasurer

as of the 1st day of August 1958

ChairmanandExecutive Officer Board of Supervisors County of Maui

Deputy Treasurer County of Maui

COUNTERSIGNED

Auditor County of Maui

The said bonds shall have the following form of registra

tion gridiron printed on the reverse side thereof

9 0 I Re otaltion 110

FOPUM OF REGISTRATION

This bond may be registered in the name of the

holder on books to be kept for that purpose by the

Treasurer of the County of Maui Territory of Hawaii

as to principal only such registration being noted

hereon by said Treasurer in the registration blank

below after which no transfer shall be valid unless

made on said books upon a written assignment of the

registered owner or his attorney duly acknowledged

and proved and similarly noted in the registration

blank below but it may be discharged from registra

tion by being transferred to bearer after which it

shall be transferable by delivery but it may be again

registered as before The registration of this bond

as to principal shall not restrain the negotiability

of the interest coupons

No writing below except by the Treasurer of the

County of Maui Territory of Hawaii

Date of Name of Regis Signature of Treasurer Registration teredOwner County of Maui

10 39t5otution

FORM OF COUPON

No

The COUNTY OF MAUI TERRITORY OF HAWAII will pay to

bearer the sum of Dollars

on the day of

19at the office of the Treasurer of the County of Maui

in the County Building at Wailuku Maui Territory of Hawaii or

at the option of the holder at the office of the Bankers Trust

Company in the City of New York State of New York being six

months interest then due on its Public Improvement Serial Bond

1958 Issue dated August 1 1958 No

Deputy Treasurer County of Maui

BE IT FURTHER RESOLVED that the Honorable William F Quinn

Governor of Hawaii be and he is hereby respectfully requested

to use his good office to secure the approval of the President

of the United States to the issuance by the County of Maui of

the above described bonds pursuant to and in accordance with

Section 55 of the Hawaiian Organic Act and Chapter 139 of the

Revised Laws of Hawaii 1955 in an amount not to exceed 87000000

72000000 being that portion issuable under said Section 55 of

the Hawaiian Organic Act and Chapter 139 of the Revised Laws of

Hawaii 1955 in the form and particulars as set forth herein

and 15000000 being that portion issuable under said Joint

Resolution 20 of the Session Laws of Hawaii 1951 and Public

Law 384 enacted by the 82nd Congress of the United States of

America at the 2nd Session approved on June 9 1952 and

11 BE IT FURTHER RESOLVED that the Deputy Treasurer of the

County of Maui be and he is hereby authorized empowered and

directed to do any and all acts and things necessary for the

issuance of the above described bonds and

BE IT FURTHER RESOLVED that the Chairman and Executive

Officer of the County of Maui and the Clerk and Deputy Treasurer

thereof be and they hereby are authorized to communicate with the

Governor of Hawaii to furnish him with all data necessary to

enable him to secure the approval by the President of the United

States of the entire issue of the bonds herein described and

BE IT FURTHER RESOLVED that all resolutions or parts of

resolutions in conflict herewith be and the same are hereby

repealed and this resolution shall take effect immediately

corarl Harry 1l Kobayashi Supervisor

6

1iYf Ni s

Tralt t saxr a t

eeii p y TT gg yy i p I h

County Clerk County of Maui E a Territory of Hawaii

I

i

12