HI SB209

Department of Budget and Finance authorized to issue special purpose revenue bonds not exceeding $40,000,000 to assist Palolo Chinese Home and its not-for-profit subsidiaries in financing expansion, construction, and rebuilding of health care facilities.

Bonds shall be issued pursuant to part II, chapter 39A, Hawaii Revised Statutes, for financing health care facilities provided by not-for-profit corporations.

Department authorized to issue refunding bonds after June 30, 2016, in amounts necessary to refund previously issued special purpose revenue bonds, subject to federal tax exemption requirements.

Authorization to issue special purpose revenue bonds under this Act lapses on June 30, 2016.

Act takes effect July 1, 2011.