HI Rev Stat § 47C-4 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|47C. Indebtedness of the Counties, Exclusions from the Funded Debt, and Certification Thereof|47C-4 Exclusionary provisions.

 §47C-4 Exclusionary provisions. The provisions of this section shall be applicable in determining whether any bonds or portion thereof may be excluded under section 13 of article VII of the constitution when determining the funded debt of the county for the purposes of that section.  In the event that any general obligation bonds have been issued for assessable improvements, only the principal amount of such bonds for which at least one interest payment date has elapsed may be excluded by reason of the provisions of clause 5 of section 13 of article VII of the constitution. Subject to the provisions of the preceding sentence, the principal amount of general obligation bonds issued for assessable public improvements which may be excluded by reason of the provisions of clause 5 shall be that percentage of the total principal amount of such bonds which is equal to the percentage of the total of the principal and interest of such bonds theretofore becoming due for the payment of which reimbursement has been made to the general fund of the county from assessment collections available therefor.  In the event that any general obligation bonds have been issued for a public undertaking, improvement, or system from which revenues, user taxes, or a combination of both may be derived for the payment of all or part of the principal and interest as reimbursement to the general fund, only the principal amount of such bonds issued prior to the then current fiscal year and for which at least one interest payment date has elapsed may be excluded by reason of the provisions of clause 6 of section 13 of article VII of the constitution. Subject to the provisions of the last sentence, the principal amount of general obligation bonds issued for such a public undertaking, improvement, or system which may be excluded by reason of such clause 6 shall be that percentage of the total principal amount of such bonds which is equal to the percentage of the principal and interest of such bonds which became due in the immediately preceding fiscal year for the payment of which reimbursement was made to the general fund of the county from the net revenue, net user tax receipts, or a combination of both, derived from such public undertaking, improvement, or system in such immediately preceding fiscal year. Amounts received from the federal government for the payment or reimbursement of costs of operation, maintenance, and repair of a public undertaking, improvement, or system or for the payment of the principal and interest of bonds issued for such public undertaking, improvement, or system, may be considered and treated as revenues of such undertaking, improvement, or system. Amounts derived from any extra or special motor vehicle fuel tax by law set aside for the use of a county, and amounts received by a county as its share of any motor vehicle fuel taxes or motor vehicle license fees, may be considered and treated as revenue of any street or highway undertaking, improvement, or system of the county, including any tunnels, bridges, or overpasses for the movement of motor vehicles. If the costs of operation, maintenance, and repair of a public undertaking, improvement, or system are the responsibility of the State or a governmental body other than the county, the county shall not be deemed to derive net revenue, or net user taxes, or combination of both, from such undertaking, improvement, or system unless the amount of revenues, or user taxes, or combination of both, received by the State or such other governmental body from such undertaking, improvement, or system are at least equal to such costs of operation, maintenance, and repair.  Amounts received from on-street parking may be considered and treated as revenues of a parking undertaking. [L 1970, c 202, pt of §1; am L 1979, c 43, pt of §4]