HI HB328

Authorizes the Director of Finance to issue general obligation bonds for fiscal year 2013-2014 to retire revenue bond debt incurred by the University of Hawaii for the UH Manoa campus center renovation and addition project under Act 213, Session Laws of Hawaii 2007, as amended.

Appropriated funds shall not lapse at the end of the fiscal biennium, except that any unencumbered moneys shall lapse on June 30, 2016.

Requires the Director of Finance to transfer bond proceeds to the University of Hawaii within thirty days of receipt, with funds to be used solely for retiring the described revenue bond debt.

Takes effect on July 1, 2013.