HI HB1971

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds up to $50,000,000 to assist Kunoa Cattle Company, LLC, a Delaware corporation.

Bond proceeds may be used for a multi-species livestock farm, expansion of slaughter and processing infrastructure, development of distribution assets and agritourism services, and expansion of renewable energy assets.

Bonds are issued pursuant to part X, chapter 39A, Hawaii Revised Statutes, which governs special purpose revenue bonds for agricultural enterprises.

Department is authorized to issue refunding bonds after June 30, 2023, to refinance the original bonds or subsequent refunding bonds, subject to federal tax exemption requirements.

Authorization to issue bonds lapses on June 30, 2023; Act takes effect July 1, 2018.