HI HB608

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds up to $45,000,000 to assist Waimea Nui Community Development Corporation, a private not-for-profit community development corporation.

Bond proceeds may finance planning, acquisition, and construction of agriculture, renewable energy, and educational facilities including bioenergy systems, micro-grids, agricultural processing facilities, water systems, and aquaculture facilities.

Bonds may also fund purchase of land, improvements, information technology, equipment, and other capital-related projects directly related to the specified facilities.

The Department of Budget and Finance may issue refunding bonds after June 30, 2020, to refinance the original bonds regardless of maturity or redemption status.

Authorization to issue special purpose revenue bonds lapses on June 30, 2020, and the Act takes effect on July 1, 2050.