Report Title:

Kukui Gardens; Appropriation; GO Bonds

 

Description:

Appropriates $26,000,000 in general obligation bonds to finalize the sale of the Kukui Gardens housing project.  (SD1)

 


HOUSE OF REPRESENTATIVES

H.B. NO.

2515

TWENTY-FOURTH LEGISLATURE, 2008

H.D. 1

STATE OF HAWAII

S.D. 1

 

 

 

 

 

A BILL FOR AN ACT


 

 

RELATING TO KUKUI GARDENS.

 

 

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 $26,000,000 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 2008-2009 for the purpose of financing and finalizing the acquisition of a portion of the Kukui Gardens housing project to maintain long-term housing affordability.

     SECTION 2.  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, 2010, shall lapse as of that date.

     SECTION 3.  The sum appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this Act.

     SECTION 4.  This Act shall take effect on July 1, 2008.