Report Title:

Paradise Park; Appropriation; University of Hawaii

Description:

Provides a general obligation bond issuance and appropriates funds to purchase Paradise Park on Oahu for the University of Hawaii.

HOUSE OF REPRESENTATIVES

H.B. NO.

2217

TWENTY-SECOND LEGISLATURE, 2004

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS AND MAKING AN APPROPRIATION FOR PARADISE PARK, OAHU.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. The purpose of this Act is to acquire Paradise park in Manoa on the island of Oahu for the exclusive use of the University of Hawaii. The Act includes funds for the plans, land acquisition, design, construction, equipment, and lease or fee title interest in the property. The funds shall also be used for improvements to existing facilities, construction of new facilities, infrastructure and site improvements, and other related work. The acquisition is necessary to qualify for federal aid financing or reimbursement.

SECTION 2. The director of finance is authorized to issue general obligation bonds in the sum of $5,500,000, or so much thereof as may be necessary, and the same sum, or so much thereof as may be necessary, is appropriated for fiscal year 2004-2005, for the following expenditures related to the acquisition of Paradise park on Oahu:

Plans $ 500,000

Land 2,000,000

Design 1,000

Construction 2,998,000

Equipment 1,000

Total Funding $5,500,000

SECTION 3. The appropriations authorized in this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all appropriations which are unencumbered as of June 30, 2007; shall lapse as of that date.

SECTION 4. The sum appropriated shall be expended by the University of Hawaii for the purposes of this Act.

SECTION 5. This Act shall take effect on July 1, 2004.

INTRODUCED BY:

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