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HI SB2983

Bill

Official Source

Status

Engrossed

3/8/2016

Primary Sponsor

Rosalyn Baker

Click for details

Origin

Senate

2016 Regular Session

AI Summary

  • Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not exceeding $850,285 for West Maui Investors, LLC to finance permits, testing, construction, and post-construction management of Ukumehame reservoir numbers 2 and 3.

  • Classifies Ukumehame reservoir numbers 2 and 3 Kehalani offsite retention basin as a project under Act 147, Session Laws of Hawaii 2012, making it eligible for dam and reservoir owner assistance financing.

  • Permits the Department of Budget and Finance to issue refunding bonds after June 30, 2021 in amounts necessary to refund the authorized bonds, subject to federal tax exemption requirements.

  • Authorization to issue the special purpose revenue bonds lapses on June 30, 2021.

  • Takes effect on July 1, 2016.

Legislative Description

Special Purpose Revenue Bonds; Dam and Reservoir Owners; West Maui Investors, LLC ($)

Last Action

Referred to WAL, FIN, referral sheet 26

3/10/2016

Committee Referrals

Water & Land3/10/2016
Ways and Means2/18/2016
Water, Land, and Agriculture1/29/2016

Full Bill Text

No bill text available