Report Title:

GO Bonds; West Oahu Campus Development

Description:

Authorizes the issuance of $30 million in GO Bonds for infrastructure of West Oahu campus development.

THE SENATE

S.B. NO.

997

TWENTY-THIRD LEGISLATURE, 2005

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

Authorizing The issuance of general obligation bonds FOR THE UNIVERSITY OF HAWAII'S WEST OAHU CAMPUS.

 

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

SECTION 1. The purpose of this Act is to authorize the issuance of general obligations bonds to provide for the infrastructure of West Oahu campus development.

SECTION 2. The director of finance is authorized to issue general obligation bonds in the sum of $30,000,000, or so much thereof as may be necessary, and the same sum, or so much thereof as may be necessary, is appropriated for fiscal years 2005-2006 and 2006-2007, to provide for the infrastructure of the University of Hawaii's West Oahu campus development.

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 sum appropriated shall be expended by the University of Hawaii for the purposes of this Act.

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

INTRODUCED BY:

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