Report Title:

$100M GO Bonds DOE R&M Projects

Description:

Authorizes and appropriates $100,000,000 in general obligation bonds to be deposited into the State Educational Facilities Repair and Maintenance Account.

THE SENATE

S.B. NO.

365

TWENTY-SECOND LEGISLATURE, 2003

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS AND MAKING AN APPROPRIATION FOR THE REPAIR AND MAINTENANCE OF STATE EDUCATIONAL FACILITIES.

 

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

SECTION 1. The director of finance is authorized to issue general obligation bonds in the sum of $100,000,000, 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 2003-2004, for the purpose of repair and maintenance projects for state educational facilities authorized pursuant to section 36-35, Hawaii Revised Statutes.

SECTION 2. The appropriation made for the capital improvement projects authorized by this Act shall not lapse at the end of the fiscal year for which the appropriation is made; provided that all moneys from the appropriation that are unencumbered as of June 30, 2005, shall lapse as of that date.

SECTION 3. The sum appropriated shall be expended by the department of accounting and general services for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2003.

INTRODUCED BY:

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