Where general obligation bonds of the City and County of Honolulu have been authorized for issuance and sale by the council of the City and County of Honolulu in accordance with HRS Chapter 47, the director of budget and fiscal services shall not offer for sale or sell the whole or any part of any issue of the bonds so authorized without first obtaining the determination of the council, by resolution, of the form, date, amount, denomination, and maturity of the bonds to be offered for sale and sold by the director of budget and fiscal services.
(Sec. 5-40.2, R.O. 1978 (1987 Supp. to 1983 Ed.)) (1990 Code, Ch. 6, Art. 33, § 6-33.2)