HI SB2488

Authorizes the director of finance to issue general obligation bonds for a traffic signal capital improvement project at the intersection of Piilani highway and Kulanihakoi street in Kihei, Maui (specific dollar amount left blank in bill text).

Appropriates funds for fiscal year 2014-2015 to the department of transportation for design, planning, and construction of the traffic signal.

Documents that between January 1, 2012, and December 31, 2013, the intersection experienced six major crashes and five minor crashes.

Notes that the intersection will serve as the entrance to Kihei High School, scheduled to open in 2018, making traffic safety improvements a priority for a rapidly growing community.

Allows the appropriation to carry forward beyond the fiscal biennium, with any unencumbered funds lapsing as of June 30, 2016; effective date July 1, 2040.