HI HB533

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not to exceed $25,000,000 to assist Le Jardin Academy, Inc. with educational facility projects.

Authorized bond proceeds may be used for planning, designing, constructing, reconstructing, renovating, acquiring, equipping, and improving educational facilities for Le Jardin Academy, Inc.

Bonds may be issued in one or more series and can be combined with other separate legislative authorizations for special purpose revenue bonds under Hawaii Revised Statutes part VIII, chapter 39A.

Department of Budget and Finance may issue refunding bonds after June 30, 2026, in whatever amounts necessary to refund outstanding bonds, subject to federal tax-exempt bond requirements.

Authorization to issue bonds lapses on June 30, 2026, and the Act takes effect on July 1, 2021.