HI HB773

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not to exceed $40,000,000 for Saint Louis School, a Hawaii not-for-profit corporation.

Bonds may be issued in one or more series to finance or refinance planning, construction, improvement, and equipping of Saint Louis School's educational facilities in Hawaii.

Bonds shall be issued pursuant to part VIII, chapter 39A, Hawaii Revised Statutes, for assistance to a not-for-profit private elementary school, secondary school, college, or university serving the general public.

Department of Budget and Finance may refund previously issued special purpose revenue bonds through June 30, 2016, in compliance with federal tax-exemption requirements.

Authorization to issue special purpose revenue bonds under this Act expires on June 30, 2016, and the Act takes effect on July 1, 2011.