HI SB661

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds up to $175,000,000 for Hawaiʻi Pacific Health, its obligated group, and non-profit affiliates.

Bonds may be used to finance, refinance, or reimburse costs related to construction or renovation of health care facilities for Hawaiʻi Pacific Health entities.

Bonds are issued pursuant to part II, chapter 39A, Hawaii Revised Statutes, which governs special purpose revenue bonds for non-profit enterprises.

Department is authorized to issue refunding bonds after June 30, 2018, to refund the initial bonds or subsequent refunding bonds, subject to federal tax law compliance.

Authorization to issue bonds expires June 30, 2018; Act takes effect July 1, 2013.