2023 Hawaii Revised Statutes › Title 6. County Organization and Administration › 47. County Bonds › 47-9 Form and execution of bonds.

§47-9 Form and execution of bonds.
(a) All bonds issued under this chapter shall be lithographed or steel engraved, shall bear the manual signature of the director of finance or the deputy director of finance of the county, shall bear the manual or lithographed or engraved facsimile signature of the mayor of the county and shall be sealed with the seal or lithographed or engraved facsimile seal of the county. In addition, fully registered bonds may be authenticated with the manual signature of the registrar, if any, thereunto duly appointed by the governing body or the director of finance. Notwithstanding the preceding provisions of this section, the governing body or the director of finance may provide that bonds issued under this chapter may be typewritten, printed, or otherwise reproduced. Interest coupons shall bear a lithographed or engraved facsimile of the signature of the director of finance or the deputy director of finance of the county. Pending the preparation of the definitive bonds, interim receipts or certificates in such form and with such provisions as the director of finance may determine may be issued to the purchaser or purchasers of bonds sold pursuant to this chapter.
(b) When bonds of the county are prepared and signed by the director of finance or the deputy director of finance and by the mayor in office at the time of the signing or lithographing or engraving of a facsimile signature upon the bonds, the signatures of the director of finance or deputy director of finance and mayor shall be valid and sufficient for all purposes, and shall have the same effect as if the persons so officially signing the bonds or whose facsimile signature appears thereon had remained in office until the delivery of the same to the initial purchasers thereof, and in the case of fully registered bonds, upon any exchange or transfer between subsequent holders thereof, notwithstanding the term of office of the persons or either of them may have expired or they may otherwise have ceased to be the officers before delivery, exchange, or transfer. If the governing body or director of finance has designated a registrar for fully registered bonds, the governing body or director of finance may provide that no fully registered bond shall be valid or obligatory for any purpose unless certified or authenticated by the registrar. If the governing body or director of finance shall have designated a registrar as aforesaid, then notwithstanding subsection (a), all signatures of the officers of the county upon the fully registered bonds may be facsimiles of the signatures, and the fully registered bonds shall be valid and sufficient only if certified or authenticated as aforesaid by the manual signature of an authorized officer or signatory of the registrar. Any law to the contrary notwithstanding, if blanks of fully registered bonds are held by a registrar pending exchange or transfer for other fully registered bonds of the same series, then upon delivery of bonds in an exchange or transfer, the bonds shall be valid and sufficient for all purposes notwithstanding that the signature of the director of finance or the mayor appearing thereon shall be that of the person in office at the time of initial delivery of the series of bonds of which the bond is one or at the time of such exchange or transfer. [L 1989, c 80, pt of §2]