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HI HB634
Bill
Status
6/13/2018
Primary Sponsor
Ryan Yamane
Click for details
AI Summary
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Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not to exceed $4,800,000 to assist the Honolulu Board of Water Supply in upgrading Nuuanu Reservoir #1 to meet state dam safety standards.
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The Nuuanu Reservoir #1 upgrade is part of the Nuuanu hydroelectricity project, which will generate renewable hydroelectric energy, provide energy storage for off-peak solar or wind energy, and increase groundwater recharge of captured stormwater.
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Bonds shall be issued pursuant to Part XII, Chapter 39A of Hawaii Revised Statutes, which authorizes special purpose revenue bonds to assist dam and reservoir owners.
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The department is authorized to issue refunding bonds in whatever principal amounts necessary to refund the original or previously issued refunding bonds, subject to federal tax law requirements, with the authorization lapsing on June 30, 2023.
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The Act takes effect on July 1, 2018.
Legislative Description
Relating To The Issuance Of Special Purpose Revenue Bonds For The Nuuanu Hydroelectricity Project.
Special Purpose Revenue Bonds
Last Action
Act 035, 06/07/2018 (Gov. Msg. No. 1135).
6/13/2018