reglab/housing_qa huggingface dataset:
HI Rev Stat § 49-1 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-1 Definitions.

 §49-1 Definitions. Whenever used in this chapter, unless a different meaning clearly appears from the context:  "Board" means any department or board of a county authorized to issue revenue bonds under this chapter.  "County" means the city and county of Honolulu and the counties of Hawaii, Kauai, and Maui, the board of water supply of the city and county of Honolulu and the boards of water supply of the counties of Hawaii, Kauai, and Maui.  "Director of finance" means the director of finance of the various counties.  "Governing body" means council of each county, or any other body exercising the legislative powers of the county.  "Loan program" means the activities and policies undertaken by any county to provide:  (1) Assistance to members of the general public who are residents of the county by making loans or causing loans to be made available to them for purposes as may be authorized by law; or  (2) Loans to private nonprofit organizations or public instrumentalities, or to wholly owned affiliates thereof, for the development of low and moderate income housing pursuant to section 46-15.1(a).  "Revenue" means the moneys collected, including any moneys collected from the county or any department thereof, from the rates, rentals, fees and charges prescribed for the use and services of, and the facilities and commodities furnished by, an undertaking or the use and services and benefits of a loan program.  "Revenue bonds" means all bonds payable solely from and secured by the revenue, or user taxes, or any combination of both, of an undertaking or loan program or any loan made thereunder for which such bonds are issued and as otherwise provided in this chapter.  "Undertaking" means any public works and properties, improvement, or system owned or operated by the county, and from which the county may derive revenue, or with respect to which the county may derive user taxes, including but not limited to one or a combination of two or more of the following: water, sewerage, gas or electric, heat, light or power works, solid waste processing and disposal, public off-street parking facilities, plants, systems, and low and moderate income housing projects provided pursuant to section 46-15.1, together with all parts thereof and appurtenances thereto.  "User taxes" means taxes on goods or services or on the consumption thereof, the receipts of which are substantially derived from the consumption, use or sale of goods and services in the utilization of the functions or services furnished by the undertaking. [L 1989, c 80, pt of §3; am L 2002, c 207, § §1, 3; am L 2007, c 37, §3] Cross References "Undertaking":  Mass transit system, see §51-4.  Off-street parking, see chapter 56.
HI Rev Stat § 49-2 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-2 Declaration of policy.

 §49-2 Declaration of policy. It is declared to be the policy of the State that any county acquiring, purchasing, constructing, reconstructing, improving, bettering, or extending an undertaking or establishing or administering a loan program pursuant to this chapter shall manage the undertaking or loan program in the most efficient manner consistent with sound economy and public advantage and consistent with the protection of bondholders. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-7 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-7 CUSIP numbers.

 §49-7 CUSIP numbers. The governing body issuing revenue bonds pursuant to this chapter, in its discretion, may provide that CUSIP identification numbers shall be imprinted on the revenue bonds. In the event such numbers are imprinted on any revenue bonds (1) no CUSIP number shall constitute a part of the contract evidenced by the particular revenue bond upon which it is imprinted and (2) no liability shall attach to the county, or any officer or agent thereof, including any fiscal agent, paying agent, or registrar for the bonds, by reason of the numbers or any use made thereof, and including any use thereof made by the county, any officer or any agent, or by reason of any inaccuracy, error, or omission with respect thereto or in that use. The governing body in its discretion may require that all cost of obtaining and imprinting the numbers shall be paid by the purchaser of the bonds. For the purposes of this section the term "CUSIP identification numbers" means the numbering system adopted by the Committee for Uniform Security Identification Procedures formed by the Securities Industry Association. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-8 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-8 Support facility for variable rate revenue bonds.

 §49-8 Support facility for variable rate revenue bonds. If revenue bonds issued pursuant to this chapter are issued bearing interest at a rate or rates which vary from time to time and with a right of holders to tender the revenue bonds for purchase, the governing body may authorize the director of finance to contract for such support facility or facilities and remarketing arrangements as are required to market the revenue bonds to the greatest advantage of the county upon such terms and conditions as deemed necessary and proper. The director of finance may enter into contracts or agreement with the entity or entities providing a support facility; provided that any contract or agreement shall provide, in essence, that any amount due and owing by the county under the contract or agreement on an annual basis shall be payable solely from the revenue of the undertaking or loan program and any obligation issued or arising pursuant to the terms of the contract or agreement in the form of bonds, notes, or other evidences of indebtedness shall only arise at such time as either:  (1) Moneys or securities have been irrevocably set aside for the full payment of a like principal amount of revenue bonds issued pursuant to this chapter; or  (2) A like principal amount of the issue or series of revenue bonds to which the support facility relates are held in escrow by the entity or entities providing the support facility. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-9 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-9 Covenants in resolution authorizing issuance of revenue bonds.

 §49-9 Covenants in resolution authorizing issuance of revenue bonds. Any resolution or resolutions authorizing the issuance of revenue bonds under this chapter may contain covenants including but not limited to:  (1) The purpose or purposes to which the proceeds of sale of the revenue bonds shall be applied and the use and disposition thereof;  (2) The use and disposition of the revenue of the undertaking or the loan program for which the revenue bonds are to be issued, or the user taxes derived therefrom, or both, to the extent pledged to the payment of the revenue bonds, including the priority of payments from such revenue and the creation and maintenance of reserves and the investment thereof;  (3) Transfer from the general fund of the county to the account or accounts of the undertaking an amount equal to the cost of furnishing the county or any of its departments, boards, or agencies, at their request, with the services, facilities and commodities of the undertaking;  (4) The issuance of other or additional revenue bonds payable from the revenue of the loan program or of the undertaking, or the user taxes derived therefrom, or both revenue and user taxes, to the extent pledged to the payment of the revenue bonds;  (5) The operation, maintenance, and repair of the undertaking or the administration, operation, and maintenance of the loan program; or  (6) Other appropriate suit, action, or proceeding in any court of competent jurisdiction. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-10 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-10 Rates, rentals, fees and charges; undertakings and loan programs to be self-sustaining.

 §49-10 Rates, rentals, fees and charges; undertakings and loan programs to be self-sustaining. The governing body issuing revenue bonds pursuant to this chapter shall impose, prescribe and collect, or authorize and require the imposition, prescription and collection of, rates, rentals, fees or charges for the use and services of, and the facilities and commodities furnished by, the undertaking or for the use and services and benefits of the loan program for which the revenue bonds are issued, and shall revise, or require revision of, the rates, rentals, fees or charges from time to time whenever necessary, so that, together with the proceeds of the user taxes derived with respect to the undertaking pledged to the payment of the revenue bonds, the undertaking or loan program shall be and always remain self-sustaining. The rates, rentals, fees or charges imposed and prescribed shall produce revenue which, together with the proceeds of such user taxes, will be at least sufficient:  (1) To make the required payments of the principal of and interest on all revenue bonds issued for the undertaking or loan program, including the payment of all revenue bonds and interest thereon for the payment of which the revenue, or user taxes, or combination of both, are or shall have been pledged, charged or otherwise encumbered, or which are otherwise payable from the revenue, or user taxes, or combination of both, or are payable from a special fund maintained, or to be maintained, from the revenue, or user taxes, or combination of both, including reserves therefor, and to maintain the special fund in an amount at least sufficient to pay when due all revenue bonds and interest thereon which are payable from the special fund, including reserves therefor;  (2) To pay the cost of operation, maintenance, and repair of the undertaking, or to pay the cost of the administration, operation, and maintenance of the loan program, including reserves therefor; and  (3) To carry out the covenants of the resolution or resolutions authorizing the issuance of the revenue bonds, including any covenant as to the minimum amounts of revenue to be produced by the undertaking or loan program for which the revenue bonds are issued. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-11 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-11 Use of revenue and user taxes of undertaking or loan program.

 §49-11 Use of revenue and user taxes of undertaking or loan program. Whenever any revenue bonds have been issued under this chapter for an undertaking or a loan program, the revenue, or the user taxes, or combination of both, from which the revenue bonds are payable and by which they are secured of the undertaking or loan program shall be deposited in a special fund and shall be appropriated, applied, or expended, and the county shall have the right to appropriate, apply, or expend the same, in the amount necessary therefor for the following purposes and in such order of priority as the county shall provide in the resolution or resolutions authorizing the issuance of revenue bonds:  (1) To pay when due all revenue bonds and interest thereon issued for the undertaking or loan program, for the payment of which the revenue, or user taxes, or combination of both, is or shall have been pledged, charged, or otherwise encumbered, including reserves therefor;  (2) To pay or provide for the payment of the cost of operation, maintenance, and repair of the undertaking, or to pay or provide for the payment of administering, operating, and maintaining the loan program, including reserves therefor;  (3) For such purposes, within the jurisdiction, powers, duties, and functions of the county, including the creation and maintenance of reserves, as shall have been covenanted in any resolution or resolutions of the county providing for the issuance of revenue bonds;  (4) To reimburse the general fund of the county for all bond requirements for general obligation bonds which are or shall have been issued for the undertaking or loan program, or to refund any of the general obligation bonds, except insofar as the obligation of reimbursement has been or shall be canceled by the governing body, the bond requirements being the interest on term and serial bonds, sinking fund for term bonds, and principal of serial bonds maturing the following year;  (5) To provide for betterments and improvements to the undertaking or expansion of the loan program, including reserves therefor; or  (6) To provide such special reserve funds and other special funds as are or may be created by the resolution or resolutions authorizing the revenue bonds. Unless and until adequate provision has been made for the foregoing purposes, the county shall not have the right to transfer to its general fund or apply to any other purposes any part of the revenue, or user taxes, pledged to the payment of the revenue bonds, of the undertaking or loan program. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-12 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-12 Lien and charge of revenue bonds.

 §49-12 Lien and charge of revenue bonds. Unless otherwise provided in the resolution or resolutions, all revenue bonds of the same issue, subject to the prior and superior rights of outstanding revenue bonds, claims, or obligations, shall have a prior and paramount lien and charge on the revenue, or the user taxes, or combination of both, pledged to the payment thereof, of the undertaking or loan program for which the revenue bonds have been issued, over and ahead of all bonds of any issue payable from the revenue, or user taxes, or combination of both, which may be subsequently issued and over and ahead of any claims or obligations of any nature against the revenue, or user taxes, or combination of both, subsequently arising or subsequently incurred. All revenue bonds of the same issue shall be equally and ratably secured without priority by reason of number, date of bonds, of sale, of execution, or of delivery, by a lien and charge on the revenue or user taxes, or combination of both, pledged to the payment thereof, in accordance with this chapter and the resolution or resolutions authorizing the revenue bonds. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-13 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-13 Revenue bonds not a general or moral obligation of the county.

 §49-13 Revenue bonds not a general or moral obligation of the county. Unless otherwise provided in this section, revenue bonds issued under this chapter shall be payable solely from and secured by the revenue, or the user taxes, or combination of both, pledged to the payment thereof, of the undertaking or loan program for which the revenue bonds have been issued, or secured solely by and payable from a special fund to be maintained from the revenue, or user taxes, or combination of both, pledged to the special fund, and shall not constitute a general or moral obligation of the county or a charge upon the general fund of the county, nor shall the full faith and credit of the county be pledged to the payment of the principal and interest thereof. Revenue bonds issued for the purpose of establishing and administering a loan program authorized by law may also be secured by a pledge of all or a portion of undertakings, mortgages, and other obligations held by the county as security for a loan made under the program. Each revenue bond issued under this chapter shall recite in substance that the revenue bonds and the interest thereon are payable from and secured by the revenue, or the user taxes, or combination of both, pledged to the payment thereof, of the undertaking or loan program for which the revenue bond is issued, or secured by and payable from a special fund to be maintained from the revenue, or user taxes, or combination of both, pledged to the special fund, and that the revenue bond is not a general or moral obligation of the county and the full faith and credit of the county are not pledged to the payment of the principal and interest. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-14 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-14 Undertaking, loan program, and revenue bonds exempt from taxation.

 §49-14 Undertaking, loan program, and revenue bonds exempt from taxation. So long as the county owns any undertaking or administers a loan program, the property and revenue of the undertaking or loan program shall be exempt from all state, county, and municipal taxation; provided that any interest in property provided or given as security for a loan made under a loan program shall not be or be deemed to be property of the county for purposes of this section. Revenue bonds issued pursuant to this chapter and the income therefrom shall be exempt from all taxation by the State or any county or other political subdivision thereof, except inheritance, transfer, and estate taxes. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-15 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-15 Federal tax-exempt status; preference; protection.

 §49-15 Federal tax-exempt status; preference; protection. Revenue bonds issued under this chapter, to the extent practicable, shall be issued so as to comply with requirements imposed by valid federal law providing that the interest on the bonds shall be excluded from gross income for federal income [tax] purposes (except as certain minimum taxes or environmental taxes may apply). The director of finance is authorized to enter into such agreements, establish such funds or accounts and take any action as required in order to comply with such valid federal law. Nothing in this chapter shall be deemed to prohibit the issuance of revenue bonds, the interest on which may be included in gross income for federal income tax purposes.  For the purpose of ensuring that interest on revenue bonds issued pursuant to this chapter which is excluded from gross income for federal income tax purposes (except as provided above) on the date of issuance shall continue to be so excluded, no county officer or employee or user of an undertaking or loan program shall authorize or allow any change, amendment, or modification to an undertaking or loan program financed or refinanced with the proceeds of revenue bonds which change, amendment or modification would affect the exclusion of interest on the revenue bonds from gross income for federal income tax purposes unless the change, amendment, or modification shall have received the prior approval of the director of finance. Failure to receive the approval of the director of finance shall render any change, amendment, or modification void. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-16 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-16 Revenue bonds legal investments.

 §49-16 Revenue bonds legal investments. All public officers and bodies of the State, all political subdivisions, all insurance companies and associations, all banks, savings banks, and savings institutions, including building or savings and loan associations, all credit unions, all trust companies, all personal representatives, guardians, trustees, and all other persons and fiduciaries in the State who are regulated by law as to the character of their investment, may legally invest funds within their control and available for investment in revenue bonds of the county. The purpose of this section is to authorize any persons, firms, corporations, associations, political subdivisions, bodies, and officers, public or private, to use any funds owned or controlled by them, including (without prejudice to the generality of the foregoing), sinking, insurance, investment, retirement, compensation, pension, and trust funds, and funds held on deposit, for the purchase of any revenue bonds of the county. [L 1989, c 80, pt of §3; am L 1990, c 59, §9]
HI Rev Stat § 49-18 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-18 Investment of reserves, etc.

 §49-18 Investment of reserves, etc. The director of finance may invest any money held as reserves or in sinking funds or not required for immediate disbursement, including proceeds of the revenue bonds, which in the director's judgment are in excess of the amounts necessary for the meeting of immediate requirements, in securities permitted by the resolution or resolutions and which constitute legal investments for public funds. Income derived therefrom shall be treated as revenue of the undertaking or loan program; expenses of purchase, safekeeping, sale, and redemption, and all other expenses of the undertaking or loan program. Securities so purchased shall be considered as being deposited in the custody or control of the director of finance and shall be legally secured as required by law. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-19 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-19 Bond anticipation notes.

 §49-19 Bond anticipation notes. In anticipation of the issuance under this chapter of revenue bonds theretofore authorized by the governing body for an undertaking or a loan program and of the receipt of the proceeds of the bonds, the county, with the approval of the governing body, may issue and sell revenue bond anticipation notes for the purposes for which the revenue bonds have been authorized, the maximum principal amount of which notes shall not exceed the authorized principal amount of the revenue bonds. The notes shall be payable solely from and secured by the proceeds of the sale of the revenue bonds in anticipation of which they were issued and the revenue, or the user taxes, or a combination of both, from which would be payable and by which would be secured those revenue bonds; provided that to the extent the principal of the notes is paid from moneys other than the proceeds of sale of the revenue bonds, the maximum amount of revenue bonds in anticipation of which the notes are issued that has been authorized shall be reduced by the amount of the notes paid in that manner. The issuance of the notes and the details thereof shall be governed by this chapter with respect to revenue bonds insofar as the same may apply, provided that each note, together with all renewals and extensions thereof or refundings thereof by other notes issued under this section, shall mature within five years from the date of the original note. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-21 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-21 General laws applicable.

 §49-21 General laws applicable. The provisions of part III of chapter 47, relating to lost, stolen, destroyed, or defaced bonds, and to lost, stolen, destroyed, or defaced coupons, to the extent that they are applicable, shall apply to revenue bonds issued pursuant to this chapter. [L 1989, c 80, pt of §3]
HI Rev Stat § 49-22 (2021)
2021 Hawaii Revised Statutes|Title 6. County Organization and Administration|49. Revenue Bonds|49-22 Consent of another county.

 §49-22 Consent of another county. No county shall construct an undertaking or administer a loan program wholly or partly within the corporate limits of another county except with the consent of the governing body of the other county. [L 1989, c 80, pt of §3]