Report Title:

University of Hawaii; Information Technology Building; Appropriation

 

Description:

Authorizes the issuance of general obligation bonds for the construction of an information technology building at the University of Hawaii.  (HB1546 HD1)

 


HOUSE OF REPRESENTATIVES

H.B. NO.

1546

TWENTY-FIFTH LEGISLATURE, 2009

H.D. 1

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT


 

 

RELATING TO THE UNIVERSITY OF HAWAII.

 

 

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 $      or so much thereof as may be necessary for fiscal year 2009-2010 and the sum of $      or so much thereof as may be necessary for fiscal year 2010-2011 and the same sums or so much thereof as may be necessary are appropriated for the purpose of constructing an information technology building at the University of Hawaii.

     SECTION 2.  The information technology building shall be and constitute a public undertaking, improvement, or system from which revenues may be derived for the payment of principal and interest on the reimbursable general obligation bonds authorized in section 1 of this Act as reimbursement to the general fund.  The University of Hawaii shall reimburse the general fund from the university revenue-undertakings fund and the University of Hawaii tuition and fees special fund at a rate of $      in fiscal year 2009-2010 and $      in fiscal year 2010-2011.  The University of Hawaii shall prescribe to the director of finance the amount to be transferred from each fund.

     SECTION 3.  The appropriations made for the capital improvement project authorized by this Act shall not lapse at the end of the fiscal biennium for which the appropriations are made; provided that all moneys from the appropriation unencumbered as of June 30, 2012, shall lapse as of that date.

     SECTION 4.  The sums appropriated in section 1 of this Act shall be expended by the University of Hawaii for the purposes of this Act.

     SECTION 5.  This Act shall take effect on July 1, 2009.