PUBLIC LAW 105-388 —NOV. 13, 1998
112 STAT. 3483
"(A) the State of Hawaii, in addition to having the
opportunity to submit a competitive bid, may—
"(i) submit a binding offer, and shall on submission
of the offer, be entitled to purchase a category of a
petroleum product specified in a notice of sale at a
price equal to the volumetrically weighted average of
the successful bids made for the remaining quantity
of the petroleum product within the category that is
the subject of the offering; and
"(ii) submit one or more alternative offers, for other
categories of the petroleum product, that will be binding if no price competitive contract is awarded for
the category of petroleum product on which a binding
offer is submitted under clause (i); and
"(B) at the request of the Governor of the State of
Hawaii, a petroleum product purchased by the State of
Hawaii at a competitive sale or through a binding offer
shall have first preference in scheduling for lifting.
" (3) LIMITATION ON QUANTITY. —
"(A) IN GENERAL.— In administering this subsection,
in the case of each offering, the Secretary may impose
the limitation described in subparagraph (B) or (C) that
results in the purchase of the lesser quantity of petroleum
product.
" (B) PORTION OF QUANTITY OF PREVIOUS IMPORTS.—
The Secretary may limit the quantity of a petroleum product that the State of Hawaii may purchase through a
binding offer at any offering to 1/12 of the total quantity
of imports of the petroleum product brought into the State
during the previous year (or other period determined by
the Secretary to be representative).
"(C) PERCENTAGE OF OFFERING.— The Secretary may
limit the quantity that may be purchased through binding
offers at any offering to 3 percent of the offering.
" (4) ADJUSTMENTS. —
"(A) IN GENERAL.— Notwithstanding any limitation
imposed under paragraph (3), in administering this subsection, in the case of each offering, the Secretary shall,
at the request of the Governor of the State of Hawaii,
or an eligible entity certified under paragraph (7), adjust
the quantity to be sold to the State of Hawaii in accordance
with this paragraph.
"(B) UPWARD ADJUSTMENT.The Secretary shall adjust
upward to the next whole number increment of a full
tanker load if the quantity to be sold is—
"(i) less than 1 full tanker load; or
"(ii) greater than or equal to 50 percent of a full
tanker load more than a whole number increment of
a full tanker load.
"(C) DOWNWARD ADJUSTMENT.—The Secretary shall
adjust downward to the next whole number increment of
a full tanker load if the quantity to be sold is less than
50 percent of a full tanker load more than a whole number
increment of a full tanker load.
"(5) DELIVERY TO OTHER LOCATIONS. —The State of Hawaii
may enter into an exchange or a processing agreement that
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