HI SB1214

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds to assist Pacific Power and Water Company, Inc. with planning, permitting, designing, constructing, equipping, and operating hydropower plants throughout Hawaii.

Bond amount is not specified in the bill (blank space where the dollar amount should appear).

Bonds are issued pursuant to Hawaii Revised Statutes part V, chapter 39A, for assistance to industrial enterprises developing renewable energy projects.

Department is authorized to issue refunding bonds after June 30, 2016 in whatever amounts necessary to refund the original bonds, provided compliance with federal tax exemption requirements.

Authorization to issue bonds under this Act expires on June 30, 2016.