Haw. Rev. Stat. § 39A-203

Current through the 2024 Legislative Session

Section 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.

HRS § 39A-203

Amended by L 2012, c 242, § I-10, eff. 7/1/2012.

L 1981, c 151, pt of §2