HI SB3026

Authorizes the director of finance to issue general obligation bonds for the Waimea-Paauilo watershed project located in northeast Hawaii covering approximately 143,000 acres.

Appropriates bond proceeds for fiscal year 2014-2015 to be expended by the department of agriculture for design, plans, and construction of the watershed project.

The project aims to improve agricultural water management through more efficient irrigation and livestock water distribution systems, address inadequate water supply, and reduce seepage losses in the distribution system.

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

Bill takes effect July 1, 2050.