Hawaii Revised Statutes 39. State Bonds

PART I. OLD GENERAL OBLIGATION AND REFUNDING BONDS

• 39-1 to 15 Repealed.
  L 1988, c 28, §2. PART I. GENERAL OBLIGATION BONDS Cross References County bond issues, see chapter 47. Issuance of indebtedness; debt limit; exclusions,...
• 39-2 Application of Proceeds.
  The proceeds of bonds so issued shall be exclusively devoted to the purpose or purposes defined and expressed in the acts of the legislature...
• 39-3 Allotments; Appropriations.
  Whenever the issuance of bonds has been authorized by an act of the legislature, the bonds may be issued, sold, and delivered prior to...
• 39-4 Details of Bonds.
  (a) All bonds issued pursuant to this part shall bear interest at such rate or rates, payable at such time or times as determined...
• 39-5 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...
• 39-6 Premiums to General Fund.
  The premiums received from the sale of any bonds issued pursuant to this part shall be a realization of the general fund of the...
• 39-7 Form and Execution of Bonds.
  Bonds issued pursuant to this part shall be in such form as the director of finance may determine, and shall be lithographed or steel...
• 39-8 Same, Signatures.
  When bonds of the State are prepared and signed by the director of finance or a deputy director of finance of the State and...
• 39-9 Cusip Numbers.
  The director of finance, in the director of finance's discretion, may provide that CUSIP identification numbers shall be imprinted on bonds issued pursuant to...
• 39-10 Support Facility for Variable Rate Bonds.
  If bonds issued pursuant to this part are issued bearing interest at a rate or rates which vary from time to time and with...
• 39-11 Bonds Tax Exempt; First Charge on General Fund.
  All bonds issued pursuant to this part and the income therefrom shall be exempt from all taxation by the State or any county or...
• 39-12 Payment, Principal and Interest.
  When bonds issued pursuant to this part and the several interest amounts mature, the director of finance shall pay the same. If the bonds...
• 39-13 Fiscal and Paying Agents and Registrars.
  The director of finance may appoint, with the approval of the governor, such fiscal agents, paying agents and registrars, within and without the State,...
• 39-14 Federal Tax Exempt Status; Preference; Protection.
  (a) Bonds issued pursuant to this part, to the extent practicable, shall be issued to comply with requirements imposed by applicable federal law providing...
• 39-15 Bond Anticipation Notes.
  In anticipation of the issuance pursuant to this part of general obligation bonds authorized by the legislature and of the receipt of the proceeds...
• 39-16 Refunding Bonds Authorized.
  (a) The director of finance, with the approval of the governor but without further authorization of the legislature, from time to time, may issue...
• 39-17 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 general obligation...
• 39-18 Bonds Negotiable, Incontestable.
  This part, without reference to any other law, shall be full authority to issue, exchange, or sell bonds of the State, and the bonds...
• 39-19 Aviation Fuel Tax, Pledge.
  If at any time the director of finance, with the approval of the governor, shall issue general obligation bonds for the purpose of refunding...

PART II. OLD DESTROYED OR DEFACED BONDS; LOST COUPONS

• 39-31 to 34 Repealed.
  L 1988, c 28, §2. PART II. LOST, STOLEN, DESTROYED, OR DEFACED BONDS AND COUPONS §39-31 Duplicates. (a) Whenever it appears to the director...
• 39-32 Payment to Be Made.
  Whenever any interest coupons on any bonds issued by the State are lost, wholly or partially destroyed, defaced, or stolen, any person being the...
• 39-33 Method of Issuance and Payment.
  A claimant for issuance of a new bond or for payment shall make written application, under oath, in such form as the director of...
• 39-34 Disputed Ownership.
  If there are two or more claimants claiming adversely, each to the other or others, to be the holder in due course of the...

PART III. OLD REVENUE BONDS

• 39-51 to 70 Repealed.
  L 1988, c 28, §2. PART III. REVENUE BONDS §39-51 Definitions. Whenever used in this part, unless a different meaning clearly appears from the...
• 39-52 Declaration of Policy.
  It is declared to be the policy of the State that any department acquiring, purchasing, constructing, reconstructing, improving, bettering, or extending an undertaking or...
• 39-53 Additional Powers of Departments.
  In addition to the powers which departments may otherwise have, any department shall have the power pursuant to this part: (1) To construct, acquire...
• 39-54 Authorization of Revenue Bonds; Details of Revenue Bonds.
  (a) The issuance of revenue bonds for the acquisition, purchase, construction, reconstruction, improvement, betterment, or extension of any undertaking; the establishment and administration of...
• 39-55 Sale of Revenue Bonds.
  (a) The director of finance may make such arrangements as may be necessary or proper for the sale of each issue of revenue bonds...
• 39-56 Form and Execution of Revenue Bonds.
  Revenue bonds issued pursuant to this part shall be in such form as the department head or governing body may determine; shall be lithographed...
• 39-57 Same, Signatures.
  The revenue bonds bearing the signature of officers in office on the date of the signing thereof shall be valid and sufficient for all...
• 39-58 Cusip Numbers.
  The department issuing revenue bonds pursuant to this part, in its discretion, may provide that CUSIP identification numbers shall be imprinted on the revenue...
• 39-59 Support Facility for Variable Rate Revenue Bonds.
  If revenue bonds issued pursuant to this part are issued bearing interest at a rate or rates which vary from time to time and with...
• 39-60 Covenants in Resolution or Certificate Authorizing Issuance of Revenue Bonds.
  Any resolution or certificate authorizing the issuance of revenue bonds pursuant to this part may contain covenants as to: (1) The purpose or purposes...
• 39-61 Rates, Rentals, Fees, and Charges; Undertakings and Loan Programs to Be Self-Sustaining.
  (a) The department issuing revenue bonds pursuant to this part shall impose, prescribe, and collect rates, rentals, fees, or charges for the use and...
• 39-62 Use of Revenue and User Taxes by Any Undertaking, Loan Program, or the Hawaii Hurricane Relief Fund.
  Whenever any revenue bonds have been issued pursuant to this part for an undertaking, a loan program, or the Hawaii hurricane relief fund, the...
• 39-63 Lien and Charge of Revenue Bonds.
  Unless otherwise provided in the resolution or certificate, all revenue bonds of the same issue shall, subject to the prior and superior rights of...
• 39-64 Revenue Bonds Not a General or Moral Obligation of State.
  Unless otherwise provided in this section, revenue bonds issued pursuant to this part shall be payable solely from and secured by the revenue, or...
• 39-65 Undertaking, Loan Program, and Revenue Bonds Exempt From Taxation.
  So long as the State owns any undertaking or administers a loan program, the property and revenue of the undertaking or loan program shall...
• 39-66 Federal Tax-Exempt Status; Preference; Protection.
  (a) Revenue bonds issued pursuant to this part, to the extent practicable, shall be issued to comply with requirements imposed by applicable federal law...
• 39-67 Revenue Bonds Legal Investments.
  All public officers and bodies of the State, all political subdivisions, all insurance companies and associations, all banks, savings banks, and savings institutions, including...
• 39-68 Duties of the Director.
  (a) The director of finance, when requested by the department, shall render full and complete assistance to any department in the preparation and sale...
• 39-69 Investment of Reserves, Etc.
  The director of finance, with the approval of the department, may invest any money held as reserves or in sinking funds or not required...
• 39-70 Bond Anticipation Notes.
  In anticipation of the issuance of revenue bonds pursuant to this part theretofore authorized by the legislature for an undertaking or a loan program...
• 39-71 Refunding Revenue Obligations.
  (a) Whenever the State or any department thereof shall have outstanding any revenue bonds, and the department with the approval of the governor and...
• 39-72 Transfers to Department.
  When there are moneys in the general, special, or revolving funds of the State, which in the judgment of the director of finance are...
• 39-73 Consent of Governmental Agencies.
  It shall not be necessary for any department proceeding pursuant to this part to obtain any certificate of convenience or necessity, franchise, license, permit,...
• 39-74 General Laws Applicable.
  The provisions of part II, relating to lost, stolen, destroyed, or defaced bonds, and to lost, stolen, destroyed, or defaced coupons, to the extent...
• 39-75 Construction.
  The powers conferred by this part shall be in addition and supplemental to the powers conferred by any other law concerning any undertaking or...
• 39-76 Validation of Proceedings.
  All proceedings taken with respect to the contracting of revenue bonded indebtedness and the issuance, sale, execution, and delivery of revenue bonds by or...

PART IV. OLD DETERMINATIONS OF EXCLUSIONS
FROM THE TOTAL INDEBTEDNESS OF THE
STATE AND CERTIFICATION THEREOF

• 39-91 to 99 Repealed.
  L 1979, c 57, §9. PART IV. STATE DEBT LIMIT STATEMENT AND THE DETERMINATION OF TOTAL OUTSTANDING INDEBTEDNESS, THE EXCLUSIONS THEREFROM, AND CERTIFICATION THEREOF...
• 39-92 State Debt Limit Statement.
  (a) The director of finance shall annually as of July 1 of each fiscal year and following each issuance of general obligation bonds of...
• 39-93 Statement of Total Outstanding Indebtedness of the State and the Exclusions Permitted Therefrom.
  (a) The director of finance shall annually ascertain and set forth in a table or other summary a statement of the total outstanding indebtedness...
• 39-94 Arrangement of Statements and Schedules and Forms; Incorporation.
  In preparing the statements and supporting schedules required by this part, the director of finance may arrange, group, and set forth such information and...

PART V. OLD ANTIPOLLUTION REVENUE BONDS

• 39-125 to 131 Repealed.
  L 1979, c 57, §13. [PART V. NEW] STATEMENT ON SPECIAL PURPOSE REVENUE BONDS §39-101 Renumbered §39A-1.

PART VI. LEGISLATIVE DETERMINATION AND LEGISLATIVE
CERTIFICATION AS TO BONDS ISSUED FOR ASSESSABLE
IMPROVEMENTS

• 39-111 Legislative Determination.
  The provisions of this section shall be applicable to all computations and determinations required in the declaration of findings required of the legislature for...
• 39-112 Legislative Certification As to Bonds Issued for Assessable Improvements.
  The legislature finds, determines, and certifies that (1) there are no bonds of the State issued, the only security for which is the properties...

PART VII. OLD GENERAL PROVISIONS

• 39-151 Repealed.
  L 1988, c 28, §2. [PART VII. GENERAL PROVISIONS] [§39-151] Compound interest bond reserve fund. (a) There is hereby established the Hawaii compound interest...

PART VIII. SECURITY INTERESTS

• 39-161 Definitions.
  Whenever used in this part, unless a different meaning clearly appears from the context: "Authorizing statute" means any statute which authorizes the issuance of...
• 39-162 Perfection of a Security Interest.
  Any security interest created by a governmental unit pursuant to any authorizing statute is perfected by the adoption of the measure or measures from...
• 39-163 Priority of a Security Interest.
  The priority of any security interest created by a governmental unit shall be governed by the contractual terms set forth in the measure or...
• 39-164 Enforcement of a Security Interest.
  The terms of any applicable authorizing statute shall govern the enforcement of any security interest to the extent that the authorizing statute contains express...

Last modified: October 27, 2016