Report Title:

Molokai Comm. Serv. Council; Redevelop Molokai Electric Site

 

Description:

Authorizes the issuance of general obligation bonds to purchase and redevelop the Molokai Electric Power Plant Site.

 

HOUSE OF REPRESENTATIVES

H.B. NO.

793

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

authorizing the issuance of general obligation bonds and making an appropriation for the PURCHASE AND REDEVELOPMENT OF THE molokai electric power plant site.

 

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

SECTION 1. The director of finance is authorized to issue general obligation bonds in the sum of $600,000, or so much thereof as may be necessary, and the same sum, or so much thereof as may be necessary, is appropriated for fiscal year 2001-2002 for the purpose of purchasing and redeveloping the Molokai Electric Power Plant site to be performed by the Molokai Community Service Council; provided that the funds made available under this Act shall only be expended for the establishment of a business incubator and telecommunications hub on the subject property.

SECTION 2. The appropriation made for the capital improvement project authorized by this Act shall not lapse at the end of the fiscal year for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2004 shall lapse as of that date.

SECTION 3. The sum appropriated shall be expended by the county of Maui for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2001.

INTRODUCED BY:

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