Bill Text: HI SB809 | 2013 | Regular Session | Amended
Bill Title: Taxable General Obligation Bonds; Low- and Moderate-income Housing; Hawaii Housing Finance and Development Corporation; Debt Servicing ($)
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-02-12 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. [SB809 Detail]
Download: Hawaii-2013-SB809-Amended.html
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THE SENATE |
S.B. NO. |
809 |
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TWENTY-SEVENTH LEGISLATURE, 2013 |
S.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS AND MAKING AN APPROPRIATION FOR THE CONSTRUCTION AND IMPROVEMENT OF LOW- AND MODERATE-INCOME HOUSING.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The director of finance is authorized to issue taxable general obligation bonds in the sum of $251,700,000 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 2013-2014 for the purpose of the construction and improvement of low- and moderate-income housing in the State at:
(1) Leihano at Kapolei, on the island of Oahu;
(2) Hale Mohalu in Pearl City, on the island of Oahu;
(3) Meheula Vista in Mililani, on the island of Oahu; and
(4) Kamakana Vista in Kailua-Kona, on the island of Hawaii.
SECTION 2. The appropriation made for the capital improvement projects 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, 2016, shall lapse as of that date.
SECTION 3. The sums appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this Act.
SECTION 4. There is appropriated out of the general revenues of the State of Hawaii the sum of $21,000,000 or so much thereof as may be necessary for fiscal year 2013-2014 and the same sum or so much thereof as may be necessary for fiscal year 2014-2015 for payment of annual debt service on general obligation bonds issued pursuant to this Act.
The sums appropriated shall be expended by the department of budget and finance for the purposes of this Act.
SECTION 5. This Act shall take effect on July 1, 2013.
Report Title:
Taxable General Obligation Bonds; Low- and Moderate-income Housing; Hawaii Housing Finance and Development Corporation; Debt Servicing
Description:
Authorizes the issuance of taxable general obligation bonds and makes an appropriation for the construction and improvement of low- and moderate-income housing in the State. Makes an appropriation for debt service of taxable general obligation bonds. (SD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
