Report Title:

Haleakala Highway widening project; General obligation bonds

Description:

Authorizes issuance of general obligation bonds to complete Haleakala Highway Widening project.

HOUSE OF REPRESENTATIVES

H.B. NO.

2951

TWENTY-SECOND LEGISLATURE, 2004

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to the authorization of issuing general obligation bonds for the continuation of the haleakala highway widening project.

 

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

SECTION 1. The legislature finds that the widening of Haleakala Highway is a project that was meant to be funded in several phases. The first phase of the project is nearly complete, with all of the necessary funding in place due to the funding provided by Act 116, Session Laws of Hawaii 1998. Planning for the second phase is over half way completed. The funding for other aspects of the second phase of the project, however, need to be funded to complete the project. The purpose of this Act is to provide the funding to complete the second and final phase of the widening of Haleakala Highway.

SECTION 2. The director of finance is authorized to issue general obligation bonds in the sum of $30,000,000, 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 purpose of completing the second phase of the widening of Haleakala Highway.

SECTION 3. The appropriation made for the capital improvement project authorized by this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2006, shall lapse as of that date.

SECTION 4. This Act shall take effect on July 1, 2004.

 

 

 

INTRODUCED BY:

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