Hawaii Revised Statutes 39a-203 Use of Revenues Derived From Project Agreement.

Note

Part heading amended by L 2012, c 242, §1.

§39A-203 Use of revenues derived from project agreement. The department shall have the right to appropriate, apply, or expend the revenues derived from the project agreement for a project for the following purposes:

(1) To pay when due all special purpose revenue bonds and interest thereon, for the payment of which the revenues are or have been pledged, charged, or otherwise encumbered, including reserves therefor; and

(2) To the extent not paid by the project party to provide for all expenses of administration, operation, and maintenance of the project, including reserves therefor.

Unless and until adequate provision has been made for the foregoing purposes, the department shall not transfer the revenues derived from the project agreement to the general fund of the State. [L 1981, c 151, pt of §2; am L 2012, c 242, §10]

Section: Previous  39a-196  39a-197  39a-198  39a-199  39a-200  39a-201  39a-202  39a-203  39a-204  39a-204.5  39a-205  39a-206  39a-207  39a-208  39a-209  Next

Last modified: October 27, 2016