1064
HOUSE OF REPRESENTATIVES                H.B. NO.           
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO HAWAII HURRICANE RELIEF FUND BONDS. 



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  Act 339, Session Laws of Hawaii 1993, as amended
 
 2 by Act 17, Special Session Laws of Hawaii 1995, as amended by Act
 
 3 222, Session Laws of Hawaii 1997, is amended by amending
 
 4 subsection (d) of section 10 to read as follows:
 
 5      "(d)  The director of finance is authorized to issue
 
 6 reimbursable general obligation bonds in the principal amount of
 
 7 $200,000,000, or so much thereof as may be requested and deemed
 
 8 necessary by the commissioner for the purposes of the Hawaii
 
 9 hurricane relief fund, and the same sum is appropriated for each
 
10 of the fiscal years [1996-1997, 1997-1998, and] 1998-1999, 1999-
 
11 2000, and 2000-2001 for deposit into the hurricane reserve trust
 
12 fund.  The commissioner, upon the commissioner's determination
 
13 that it is advisable to transfer funds from the hurricane reserve
 
14 trust fund, shall reimburse the state general fund for payment of
 
15 debt service on reimbursable general obligation bonds authorized
 
16 and issued under this section."
 
17      SECTION 2.  Statutory material to be repealed is bracketed.
 
18 New statutory material is underscored.
 
19      SECTION 3.  This Act shall take effect upon its approval.
 

 
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