Report Title:
Kakaako Aquarium; Extend Bond Authorization to 2003-2005.
Description:
Extends the authority of the Hawaii community development authority to issue special facility revenue bonds to the fiscal biennium 2003-2005 for construction of an ocean science center in Kakaako; increases special facility revenue bond authorization to $40,000,000; amends definition of "special facility". (SB426 HD1)
THE SENATE |
S.B. NO. |
426 |
TWENTY-SECOND LEGISLATURE, 2003 |
S.D. 1 |
|
STATE OF HAWAII |
H.D. 1 |
|
|
A BILL FOR AN ACT
relating to economic development.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 206E-181, Hawaii Revised Statutes, is amended by amending the definition of "special facility" to read as follows:
""Special facility" means one or more buildings or structures and the land thereof for the construction of facilities that provides benefits to the community at large including, without limitation, an ocean science center that incorporates research [and], education, and training programs and which is the subject of a special facility lease."
SECTION 2. Act 180, Session Laws of Hawaii, Regular Session of 2001, is amended by amending section 3 to read as follows:
"SECTION 3. Pursuant to part VI, chapter 206E, Hawaii Revised Statutes, the Hawaii community development authority, with the approval of the governor, may issue in one or more series special facility revenue bonds in a total amount not to exceed [$20,000,000] $40,000,000 for the fiscal biennium [2001-2003] 2003-2005 for the purpose of constructing, furnishing, and equipping an ocean science center in Kakaako. The legislature finds and determines that the ocean science center in Kakaako constitutes a special facility as defined in section [2 of this Act.] 206E-181, Hawaii Revised Statutes."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2003.