Report Title:

Kakaako Aquarium; Special Facility Revenue Bonds

Description:

Authorizes the Hawaii community development authority to issue special facility revenue bonds in the fiscal biennium 2003-2005 for the construction, furnishing, and equipping of an ocean center in Kakaako.

THE SENATE

S.B. NO.

814

TWENTY-SECOND LEGISLATURE, 2003

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO SPECIAL FACILITY PROJECTS.

 

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

SECTION 1. The legislature finds and determines that the ocean science center in Kakaako constitutes a special facility project as defined in section 206E-181, Hawaii Revised Statutes.

SECTION 2. 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 $40,000,000 in the fiscal biennium 2003-2005 for the purpose of constructing, furnishing, and equipping an ocean science center in Kakaako.

SECTION 3. The Hawaii community development authority, with the approval of the governor, is authorized, from time to time, to issue special facility revenue bonds in whatever principal amounts the authority shall determine to be necessary to refund the special facility revenue bonds authorized in section 2 of this Act.

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

INTRODUCED BY:

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