HI HB2406

Authorizes the University of Hawaii to issue revenue bonds to finance capital improvement projects and facilities at the institution.

Bonds are secured by and payable from the revenues of the University of Hawaii, not general state funds.

Allows the University to use bond proceeds for acquisition, construction, and improvement of educational and administrative facilities.

Establishes the University of Hawaii's authority to pledge revenues and set aside funds for debt service and reserve accounts related to the bonded indebtedness.