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HI SB2130
Bill
Status
1/20/2010
Primary Sponsor
Brian Taniguchi
Click for details
AI Summary
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Directs the Department of Education to enter into a financing agreement with a private developer for planning and design of Royal Kunia Elementary School II using certificates of participation under Hawaii Revised Statutes chapter 37D.
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Certificates of participation allow investors to buy shares of lease revenues from government-developer agreements, enabling capital projects to be designed and built before legislative appropriations are obtained.
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Appropriates general revenues from the State of Hawaii for fiscal year 2010-2011 to cover necessary payments on the certificates of participation for the Royal Kunia Elementary School II project (specific amount left blank in bill text).
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Authorizes the Department of Budget and Finance to expend appropriated funds for purposes of the financing agreement.
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Takes effect July 1, 2010.
Legislative Description
Public School Facilities; Financing Agreement; Certificate of Participation; Appropriation
Last Action
(S) Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.
2/8/2010