§54-61  Bond sales.  The sale of bondsfor purposes of the board of water supply shall be subject to the approval ofthe council of the county; when approved by the council, the treasurer of thecounty shall sell any bonds that are authorized for the acquisition,construction, replacement, extension, or completion of any of the waterworksand water systems under the jurisdiction of the board of water supply; providedthat the sales shall otherwise be conducted in accordance with the procedurespecified by law for the sale of the bonds. The proceeds from the sales shallbe kept by the county treasurer in a special fund to be used only for thepurpose or purposes for which the bonds are sold. [L 1949, c 86, §11; RL 1955,§146-110; HRS §54-61; am L 1998, c 124, §5]