Hawaii Revised Statutes 47. County Bonds

PART I. GENERAL OBLIGATION BONDS

  • 47-1 Definitions.
    As used in this chapter: "Bonds" means bonds, notes, and other instruments of indebtedness. "County" means the counties of Hawaii, Kauai, and Maui and...
  • 47-2 Issuance Authorized; Limitation.
    Each county in the State shall have the power and is hereby authorized to issue general obligation bonds of the county within the limitations,...
  • 47-3 Purpose of Issuance.
    Bonds issued pursuant to this chapter shall be issued for public improvements of the county and such other purposes as may from time to...
  • 47-4 Bonds for Revenue-Producing Undertakings.
    General obligation bonds may be issued under this chapter for an undertaking or loan program as defined in section 49-1 or for any other...
  • 47-5 Use of Proceeds.
    The proceeds of the bonds issued under this chapter shall be exclusively devoted to the purposes for which the same are issued; provided, however,...
  • 47-6 Method of Authorization.
    All bonds of a county issued pursuant to this chapter must be authorized by the governing body of the county issuing same, and shall...
  • 47-7 Details of Bonds.
    (a) The director of finance of the county, upon authorization of its governing body, may issue from time to time and in accordance with...
  • 47-8 Sale of Bonds.
    (a) The director of finance may make such arrangements as may be necessary or proper for the sale of each issue of bonds or...
  • 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...
  • 47-10 Cusip Numbers.
    Unless the governing body shall otherwise direct, the director of finance of the county in the director's discretion, may provide that CUSIP identification numbers...
  • 47-11 Support Facility for Variable Rate Bonds.
    If bonds issued pursuant to this chapter are issued bearing interest at a rate or rates which vary from time to time or with...
  • 47-12 Pledge of Full Faith and Credit, Unlimited Taxation to Pay Principal and Interest; Satisfaction of Judgment.
    The full faith and credit of the county shall be pledged to the payment of the principal of and interest on the bonds issued...
  • 47-13 Exemption From Taxes; First Charge on General Fund.
    All bonds heretofore or hereafter issued under the authority of this chapter and the income therefrom shall be exempt from any and all taxation...
  • 47-14 Federal Tax-Exempt Status; Preference; Protection.
    Bonds issued under this chapter, to the extent practicable, shall be issued so as to comply with requirements imposed by valid federal law providing...
  • 47-15 Payment by Director of Finance.
    The director of finance of the county shall pay the principal of the bonds at maturity and the interest thereon as and when the...
  • 47-16 Bond Anticipation Notes.
    Whenever the governing body of the county shall have authorized the issuance of bonds under this chapter, general obligation bond anticipation notes of the...
  • 47-17 Refunding Bonds Authorized.
    For the purpose of refunding all or any portion of the present and future bonded indebtedness of any county issued pursuant to this chapter...
  • 47-18 Action on Default.
    In case of any default in the payment of the principal of any bonds at maturity or of the interest thereon when the same...
  • 47-19 Service on Garnishee.
    Service of process upon the garnishee may be made as follows: (1) If the garnishee lives or has the garnishee's office in the district...
  • 47-20 Garnishee to Withhold Funds.
    It shall not be incumbent on the garnishee to appear and answer the process, but the trial of the action shall proceed in all...
  • 47-21 Certificate Furnished Garnishee.
    After final judgment or determination of the action, the party prevailing shall obtain from the court by which the final judgment or determination was...
  • 47-22 Garnishee to Satisfy Judgment.
    If final judgment is rendered against defendant in the action, garnishee shall immediately thereafter draw, sign, and deliver to the plaintiff or plaintiffs a...
  • 47-23 Successive Actions.
    In case of successive actions being so brought against the same county defendant, precedence shall be given by the garnishee to that in which...
  • 47-24 Validation of Proceedings.
    All proceedings heretofore taken with respect to the contracting of general obligation bonded indebtedness and the issuance, sale, execution and delivery of bonds by...
  • 47-25 Bonds Negotiable, Incontestable.
    This chapter, without reference to any other law, shall be full authority to issue, exchange, or sell bonds of the county, and the bonds...
  • 47-26 Provisions of Chapter Controlling.
    Insofar as the provisions of this chapter are inconsistent with the provisions of any law or charter, the provisions of this chapter shall be...

PART II. SINKING FUNDS

  • 47-31 Sinking Fund.
    The director of finance of each county shall establish as a special deposit in the treasury of the county a sinking fund with which...
  • 47-32 Retirement of Bonds From Sinking Fund Money.
    The director of finance, without further authorization or direction, shall apply money on deposit to a sinking fund to redeem bonds at such times...
  • 47-33 Purchase of Bonds, When.
    Provided it can be shown to be to the financial advantage of the county, whenever there are any moneys on deposit in the sinking...

PART III. LOST, STOLEN, DESTROYED,
DEFACED BONDS AND COUPONS

Last modified: October 27, 2016