HB 1543 Summary

• Authorizes issuance of general obligation bonds up to $967,283,000 to finance projects designated in House Bill No. 1700 (Supplemental Appropriations Act of 2016).

• Declares constitutional findings that total principal and interest on proposed bonds, authorized but unissued bonds, and outstanding bonds will not exceed Hawaii's debt limit under Article VII, Section 13 of the State Constitution.

• Projects bond issuances of $600,000,000 in first half and $525,000,000 in second half of fiscal 2016-2017, $600,000,000 each half of fiscal 2017-2018, and $600,000,000 each half of fiscal 2018-2019, with 20-year maturity and 6.00% maximum interest rate.

• Authorizes refunding of previously issued general obligation bonds as permitted under Hawaii Revised Statutes Section 39-16.

• Effective upon approval.