MCC §14.52.020
Issuing Bonds in Separate Divisions
Read the official text at library.municode.com ↗This section lets the county split bond sales into separate groups, sold at different times with different dates. Each later group must match the first group's maturity and interest payment schedule, with special rules for the first interest payment. It is a narrow procedural rule for bond issuance.
courts
The ordinance, as written (Maui County) — Issuance in divisions
A copy, taken August 21, 2026. The version published by Maui County is the one that governs, and it may have changed since. Check it before relying on anything here.
If it appears feasible and desirable, the council may provide for issuance of the
bonds in two or more separate divisions, with the bonds of each division being sold
at separate times and bearing different dates. In such event, however, the bonds of
each division after the first shall mature on the same date of the year as the bonds
of the first division and interest thereon shall be payable on the same dates of the
year as the interest on the bonds of the first division; and if the first interest
paying date on the bonds of any such division after the first would thus be less than
three months after the date of such bonds, then the first interest coupons thereon
shall be dated six months later. The first interest coupons on bonds of any such division
after the first shall include interest calculated from the date of the bonds to the
date of such coupons notwithstanding that such period is less or more than six months.
(Ord. 801 § 1 (part), 1974: prior code 25-8.1.1)
Read the official text at library.municode.com ↗as published Nov 21, 2025our copy taken Aug 21, 2026
Published by the County of Maui through Municode.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.