Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1909-12-29
Shipping

son or persons. corporation or cor +,
porations from whom such money or
any portion thereof is borrowed,
coupon bonds of the Olaa Sugar /
Company. Limited, of an issue for
the aggregate principal sum 6f two
million five hundred thousand dol
lars ($2.5OO. 5000 payable on the
first day of February. A. d. 1880,
bearing interest at the rate of six
l6) per cent per annum. payable
semi-annually, both principal and
interest to be payable in gold coin
of the United States Of the present
standard of weight and fineness:
THAT the privilege shall be re-
served to the company of paying the
whole or any portion Of said bonds
on February 1. 1920. or at any in
terest paying date or dates there
after:
THAT for the purpose of securing
the payment of all of the bonds
above provided for. and the interest
coupons thereto attached. and all
icidental payments and expenses
In connection Herewith. the board
of directors and the proper officers
of the company be and they are
hereby authorized and instructed In
the name and In behalf of the Olaa
Sugar Company, Limited. and un-
der its corporate seal to cause to he
mode, executed and delivered. and
to make. execute and deliver to n
trustee or trustees to be selected
and designated by the board of Gi-
iectors Of the company. a mortgage
deed of trust of all of the franchis-
es and other property. real, per-
sonal and mixed. now owned or
which during the continuance OF
the said mortgage deed of trust may
hereafter be owned by the company;
THAT the form and other terms
and conditions Of said mortgage
deed of trust and of the bonds and
coupons TO be secured thereby. and
the trustees certificate upon such
bonds shall be such rs the directors
of the company In their discretion
sHdll UeleTtilHt,
| THAT the bonds and coupons is
sued and to be issued and secured by
said mortgage deed of trust shall be
certified by the trustees and from
time To time. upon the written re-
quest of said directors, delivered to
said directors:
] That the said directors shall
sell or cause to be sold. at such price
land upon such terms as they shall
think wise, the said bonds, or any
| of them. either as whole or In
lots. applying the proceeds thereof
to the uses and purposes herein set
forth. or apply the said bonds or
any of them directly to the uses and
purposes herein set forth. or use the
same or any of them as collateral
security for any debt of the com
pany now existing. or which may
hereafter be incurred for any of
the purposes herein set forth; or the
said directors may ut their discretion
of them by any two or more of the
said methods above prescribed.
The uses and purposes for
which said bonds or the proceeds
thereof shall be exclusively used are
as follows, viz:
"(D To redeem, pay, eXtinguisf
and cancel all bonds of the compan,
. now outstanding and unpaid;
"t2 To pay. discharge or secure
any or all Indebtedness of the com.
pany now secured by outstanding
bonds of the company. such out.
standing bonds to be thereupon ex'
tinguished and cancelled;
"t3) To pay. discharge or secure
: the payment of any or an other In
debtedness OF the company;
20 To pay the expenses of thi
Lond issue. including the said mort
gage deed OF trust, and OF placin.
: Or disposing of the bonds issued un
der the authority OF this resolution
: 200 Amy OF the purposes of tn,
business OF the company so far a
any surplus may be available fo
. the purpose.
: THAT uuon each annlication n,