HI HB1333

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds up to $50,000,000 to assist Honokaa Land Company, LLC, a domestic limited liability company.

Bond proceeds will fund acquisition, development, and renovation of agricultural facilities including rebuilding structures at the Haina Mill site for soils development, greenhouse facilities, and infrastructure.

Funds will support conversion of the Hawi site to organic production, development of cover crops including alfalfa and pigeon pea, construction of pasteurization facilities and creamery/cheesery, and conversion to renewable energy sources such as solar and wind.

Authorizes the department to issue refunding bonds after June 30, 2022, to refinance the special purpose revenue bonds issued under this Act.

Authorization to issue bonds lapses on June 30, 2022, and the Act takes effect on July 1, 2017.