Report Title:

Appropriation; Exploratory and Production Wells; Hawaiian Ocean View Estates

Description:

Authorizes the issuance of GO bonds to the county of Hawaii for the exploration of potential water sources and establishing an exploration and production well in the Ocean View area on the island of Hawaii. (SD1)

THE SENATE

S.B. NO.

386

TWENTY-THIRD LEGISLATURE, 2005

S.D. 1

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO Water.

 

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

Section 1. The legislature finds that the Ocean View area on the island of Hawaii is growing rapidly. In 2000, the U.S. Census indicated that the population in that area was approximately 3,000. However, there are over 11,000 vacant subdivided lots that have the potential to accommodate new homes without rezoning. These parcels are already subdivided with agricultural zoning at one, three, and five acres, and they are readily available at affordable prices from $3,500 to $20,000.

With these growth potentials, the legislature finds it imperative that potential water sources for this portion of the island of Hawaii be explored.

The purpose of this Act is to authorize the issuance of general obligation bonds for the exploration of potential water sources and to establish an exploratory and production well in the Ocean View area on the island of Hawaii.

SECTION 2. The director of finance is authorized to issue general obligation bonds in the sum of $6,000,000, 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 2005-2006 for the purpose of exploring potential water sources and establishing an exploration and production well in the Ocean View are on the island of Hawaii.

SECTION 3. The appropriation made for the capital improvement project authorized by this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2008, shall lapse as of that date.

SECTION 4. The sums appropriated shall be expended by the county of Hawaii for the purposes of this Act.

SECTION 5. This Act shall take effect on July 1, 2005.