reglab/housing_qa huggingface dataset:
HI Rev Stat § 39A-286 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-286 Issuance of special purpose revenue bonds to finance projects.

 §39A-286 Issuance of special purpose revenue bonds to finance projects. In addition to the other powers that it may otherwise have, the department may issue special purpose revenue bonds to finance or refinance the costs of developing low- and moderate-income housing or to loan the proceeds of bonds to assist project parties in the development of low- and moderate-income housing. All bonds issued under this part are special purpose revenue bonds and the provisions of part III of chapter 39 shall not apply. All special purpose revenue bonds shall be issued in the name of the department and not in the name of the State.  In determining the cost of any project, the department may also include:  (1) Financing charges, fees, the expenses of trustees, and the cost of paying agents to issue special purpose revenue bonds to fund the project;  (2) Interest on the bonds and the expenses of the State in connection with the bonds and the project to be financed or refinanced from the proceeds of the bonds accruing or incurred prior to and during the period of construction, not to exceed twelve months thereafter;  (3) Amounts necessary to establish or increase reserves for the special purpose revenue bonds;  (4) The cost of plans, specifications, studies, surveys, and estimates of costs and of revenues;  (5) Other expenses incidental to determining the feasibility or practicability of the project;  (6) Administration expenses;  (7) The cost of interest incurred by the project party with respect to the project prior to the issuance of the special purpose revenue bonds;  (8) Fees and expenses incurred in connection with the refinancing of outstanding obligations;  (9) Other costs, commissions, and expenses incidental to the project;  (10) The financing or refinancing of the project and placing the project in operation; and  (11) The issuance of the special purpose revenue bonds, whether incurred prior to or after the issuance of the bonds.  The legislature finds and determines that the exercise of the powers vested in the department by this part constitutes assistance to not-for-profit private organizations, for-profit private organizations, and public instrumentalities and their qualified affiliates in the development of low- and moderate-income housing, and that the issuance of special purpose revenue bonds to finance or refinance projects of or for project parties or to loan the proceeds of the bonds to assist project parties in the development of low- and moderate-income housing is in the public interest. The legislature further finds that this governmental assistance to not-for-profit private organizations, for-profit private organizations, and public instrumentalities and their qualified affiliates is necessary to encourage public-private partnerships to develop affordable housing for low- and moderate-income families in the State. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-288 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-288 Special purpose revenue bond anticipation notes.

 §39A-288 Special purpose revenue bond anticipation notes. Whenever the department shall have authorized the issuance of special purpose revenue bonds under this part, special purpose revenue bond anticipation notes of the department may be issued in anticipation of the issuance of the bonds and of the receipt of the proceeds of sale thereof, for the purpose for which the bonds have been authorized. All special purpose revenue bond anticipation notes shall be authorized by the department, and the maximum principal amount of the notes shall not exceed the authorized principal amount of the bonds. The notes shall be payable solely from and secured solely by the proceeds of the sale of the special purpose revenue bonds in anticipation of which the notes are issued and the revenues from which would be payable and by which the bonds would be secured; provided that to the extent that the principal of the notes shall be paid from moneys other than the proceeds of sale of the bonds, the maximum amount of bonds in anticipation of which the notes are issued that has been authorized shall be reduced by the amount of notes paid in that manner. The authorization, issuance, and details of the notes shall be governed by the provision of this part with respect to special purpose revenue bonds insofar as the same may apply; provided that each note, together with all renewals and extensions of the note, or refundings of the note by other notes issued under this section, shall mature within five years from the date of the original note. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-290 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-290 Security for special purpose revenue bonds.

 §39A-290 Security for special purpose revenue bonds. Special purpose revenue bonds shall be payable solely from the revenues derived by the department from payments made to the department under the project agreement, project agreements, or other supplemental agreements entered into with respect to the project or projects for the financing of which the special purpose revenue bonds were issued. The special purpose revenue bonds shall be secured solely by these revenues and by the pledges and assignments authorized by this part. Subject to the prior and superior rights of outstanding bonds, claims, obligations, or mechanic's and materialman's liens, all special purpose revenue bonds of the same issue shall have a prior and paramount lien on the revenue derived from the project agreement or agreements with respect to the project or projects for which the bonds were issued. The lien shall be over and ahead of all special purpose revenue bonds of any issue payable from the revenues that may be subsequently issued and over and ahead of any claims or obligations of any nature against the revenues subsequently arising or subsequently incurred; provided that the right and privilege may be reserved by the department in the trust indenture securing an issue of special purpose revenue bonds to subsequently issue additional special purpose revenue bonds, subject to legislative authorization of the issue as provided in section 39A-287. The department may also permit the project party or another party on its behalf to incur debt, from time to time, payable from the revenues derived from the project agreement on a parity with the first issue of the special purpose revenue bonds. Any subsequent issue of special purpose revenue bonds and other debt issued or incurred in accordance with the provisions of the trust indenture shall be secured equally and ratably with the first issue of the special purpose revenue bond by a lien on the revenues in accordance with this part and without priority based on the date of sale, date of execution, or date of delivery.  Notwithstanding any other provisions of this part, all or part of the property constituting the project and all interest of the project party in the project and the revenues of the project party therefrom may be subjected to the present and future lien of any mortgage of the project party securing the project party's bonds. The rights of the department and any trustee for the holders of the special purpose revenue bonds and the holders of the special purpose revenue bonds in the project and the revenues therefrom may be made subject to the prior lien of the project party's mortgage. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-291 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-291 Special purpose revenue bonds not a general obligation of the State.

 §39A-291 Special purpose revenue bonds not a general obligation of the State. No holder or holders of any special purpose revenue bonds issued under this part shall ever have the right to compel any exercise of the taxing power of the State to pay for the bonds or the interest on the bonds, and no moneys other than the revenues pledged to the bonds shall be applied toward their payment. Each special purpose revenue bond issued under this part shall recite in substance that the bond, including interest on the bond, is not a general obligation of the State and is payable solely from the revenues pledged to the payment thereof and that the bond is not secured directly or indirectly by the full faith and credit of the State, by the general credit of the State, or by any revenue or taxes of the State other than the revenues specifically pledged thereto. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-292 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-292 Validity of special purpose revenue bonds.

 §39A-292 Validity of special purpose revenue bonds. The special purpose revenue bonds bearing the signature or facsimile signature of officers on the date of the signing of the bonds shall be valid and sufficient for all purposes, notwithstanding that before the delivery of and payment for the bonds, all the persons whose signatures appear on the bonds shall have ceased to be officers of the department. The special purpose revenue bonds shall contain a recital that they are issued pursuant to this part, and the recital shall be conclusive evidence of their validity and of the regularity of their issuance. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-293 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-293 Use of revenues derived from project agreement.

 §39A-293 Use of revenues derived from project agreement. The department may appropriate, apply, or expend the revenues derived with respect to the project agreement for a project for the following purposes:  (1) To pay when due all special purpose revenue bonds, premium, if any, and interest on the bonds for the payment of which the revenues are or have been pledged, charged, or otherwise encumbered, including reserves; and  (2) To the extent not paid by the project party to provide for all expenses of administration, operation, and maintenance of the project, including reserves. Unless and until adequate provision has been made for the foregoing purposes, the department shall not transfer the revenues derived from the project agreement to the general fund of the State. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-294 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-294 Special purpose revenue bonds exempt from taxation.

 §39A-294 Special purpose revenue bonds exempt from taxation. Special purpose revenue bonds and the income derived from the bonds issued pursuant to this part shall be exempt from all state, county, and municipal taxation, except for inheritance, transfer, and estate taxes. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-295 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-295 Federal tax-exempt status.

 §39A-295 Federal tax-exempt status. To the extent practicable, special purpose revenue bonds issued pursuant to this part shall be issued to comply with requirements imposed by applicable federal law providing that the interest on the special purpose revenue bonds shall be excluded from gross income for federal income tax purposes, except as certain minimum taxes or environmental taxes may apply. The department may enter into agreements, establish funds or accounts, and take any action required to comply with applicable federal law. Nothing in this part shall be deemed to prohibit the issuance of special purpose revenue bonds, the interest on which may be included in gross income for federal income tax purposes. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-296 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-296 Exemption from taxation of department property.

 §39A-296 Exemption from taxation of department property. All revenues derived by the department from any project or under the project agreement pertaining to it shall be exempt from all state, county, and municipal taxation. Any right, title, and interest of the department in any project shall also be exempt from all state, county, and municipal taxation.  Except as otherwise provided by law, the interest of the project party or user of a project under the project agreement or related agreement shall not be exempt from taxation to a greater extent than it would be if the costs of the project were directly financed by the project party or other user. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-297 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-297 Refunding special purpose revenue bonds.

 §39A-297 Refunding special purpose revenue bonds. The legislature, by an act passed by an affirmative vote of two-thirds of the members to which each house is entitled, may authorize the issuance of refunding special purpose revenue bonds for the purpose of refunding any special purpose revenue bonds then outstanding and issued under this part, whether or not the outstanding special purpose revenue bonds have matured or are then subject to redemption.  The legislature may also provide, by an act passed by an affirmative vote of two-thirds of the members to which each house is entitled, for the issuance of a single issue of special purpose revenue bonds for the combined purposes of:  (1) Financing or refinancing the cost of a project or improvement or expansion of the project; and  (2) Refunding special purpose revenue bonds that shall have been issued under this part and shall then be outstanding, whether or not the outstanding special purpose revenue bonds have matured or are then subject to redemption.  Nothing in this section shall require or be deemed to require the legislature to elect to redeem or prepay special purpose revenue bonds being refunded. Moreover, nothing in this section shall require or be deemed to require the legislature to elect to redeem or prepay the special purpose revenue bonds being refunded, which were issued in the form customarily known as term bonds in accordance with any sinking fund installment schedule specified in any law authorizing the issuance thereof, or, if the department elects to redeem or prepay any bonds, to redeem or prepay as of any particular date or dates. The issuance of the special purpose revenue bonds, the maturities and other details regarding the bonds, the rights and remedies of the bondholders, and the rights, powers, privileges, duties, and obligations of the department with respect to the bonds and bondholders, shall be governed by the foregoing provisions of this part insofar as may be applicable. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-298 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-298 Status of special purpose revenue bonds under Uniform Commercial Code.

 §39A-298 Status of special purpose revenue bonds under Uniform Commercial Code. Notwithstanding any of the provisions of this part or any recitals in any special purpose revenue bonds issued under this part, all special purpose revenue bonds shall be deemed to be investment securities under the Uniform Commercial Code, chapter 490, subject only to the provisions of the special purpose revenue bonds pertaining to registration. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-299 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-299 Special purpose revenue bonds as legal investments and lawful security.

 §39A-299 Special purpose revenue bonds as legal investments and lawful security. The special purpose revenue bonds issued pursuant to this part shall be and are declared to be legal and authorized investments for banks, savings banks, trust companies, savings and loan associations, insurance companies, credit unions, fiduciaries, trustees, guardians, and for all public funds of the State and its political corporations or subdivisions. The special purpose revenue bonds shall be eligible to secure the deposit of any and all public funds of the State and of the counties or other political corporations or subdivisions of the State. The bonds shall be lawful and sufficient security for these deposits to the extent of their value when accompanied by all unmatured coupons pertaining to the bonds. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-300 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-300 Access to and public disclosure of financial records of project party.

 §39A-300 Access to and public disclosure of financial records of project party. (a) Each project party with a project agreement with the department shall allow the department full access to its financial records. Upon the request of the department for the examination of the financial records, the project party shall allow the department to examine the requested records within a reasonably prompt time from the date of the request. If the department requests copies of the records, the project party shall provide the copies.  (b) To provide the public with full knowledge of the use of the proceeds and benefits derived from special purpose revenue bonds issued under this part, the department shall require each project party with a project agreement with the department to make available to the public all relevant financial records that pertain to the use of or savings resulting from the use of special purpose revenue bonds.  (c) The department shall adopt rules under chapter 91 for the purpose of this section. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-301 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-301 Estimate of benefits.

 §39A-301 Estimate of benefits. (a) Each project party with a project agreement with the department shall estimate the benefits derived from the use of the proceeds of special purpose revenue bonds. The benefits estimated shall be based on a comparison between the use of the proceeds of the special purpose revenue bonds instead of other means of financing and shall be in terms of dollars projected to be or actually saved by consumers of the services of the project party. The format of and method for determining the estimates shall be established by the department and shall be uniform for each project party.  (b) To promote public understanding of the role played by special purpose revenue bonds in providing less costly services by a project party to the general public, the department shall take appropriate steps to ensure public access to and scrutiny of the estimates determined under subsection (a).  (c) The department shall adopt rules under chapter 91 for the purposes of this section. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-302 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-302 Construction of this part.

 §39A-302 Construction of this part. The powers conferred by this part shall be in addition and supplemental to the powers conferred by any other law. Insofar as the provisions of this part are inconsistent with the provisions of any other law, this part shall control. [L 2006, c 102, pt of §2]
HI Rev Stat § 39A-311 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-311 Definitions.

Note Part heading amended by L 2014, c 103, §1. §39A-311 Definitions. Whenever used in this part, unless a different meaning clearly appears from the context:  "Department" means the department of budget and finance.  "Project" means any combination of land, buildings, and other improvements thereon, including without limitation irrigation systems and infrastructure, for use of, or for, or to assist an agricultural enterprise, including without limiting the generality of the foregoing, machinery, equipment, furnishings, and apparatus that are deemed necessary, suitable, or useful to the enterprise.  "Project agreement" means any agreement entered into under this part by the department with a project party to finance, construct, operate, or maintain a project from the proceeds of special purpose revenue bonds, or to lend the proceeds of special purpose revenue bonds to assist an agricultural enterprise, including without limitation any loan agreement.  "Project party" means a person, firm, or corporation qualified to do business in this State and conducting or proposing to conduct an agricultural enterprise.  "Special purpose revenue bonds" or "bonds" means bonds, notes, or other evidences of indebtedness of the State issued pursuant to this part. [L 2006, c 148, pt of §1; am L 2014, c 103, §2]
HI Rev Stat § 39A-312 (2021)
2021 Hawaii Revised Statutes|Title 5. State Financial Administration|39A. Special Purpose Revenue Bonds|39A-312 Department powers as to agricultural enterprises.

 §39A-312 Department powers as to agricultural enterprises. In addition to powers that it may now have, the department shall have all powers necessary or convenient to accomplish the purposes of this part. The powers of the department include but are not limited to the following:  (1) Notwithstanding and without compliance with section 103-7, but with the approval of the governor, to:  (A) Enter into and carry out a project agreement, or an amendment or supplement to an existing project agreement, with a project party; and  (B) Enter into and carry out any agreement whereby the obligation of a project party under a project agreement will be unconditionally guaranteed by a person other than a project party;  (2) To issue special purpose revenue bonds pursuant to and in accordance with this part;  (3) To lend the proceeds of the special purpose revenue bonds issued for a project to the project party for use and application by the project party for the acquisition, purchase, construction, reconstruction, improvement, betterment, extension, maintenance of a project, or refinancing of outstanding obligations related to a project;  (4) As security for the payment of the principal, premium, if any, and interest of the special purpose revenue bonds issued for a project, to:  (A) Pledge, assign, hypothecate, or otherwise encumber all or any part of the revenues and receipts derived or to be derived by the department under the project agreement for the project for which the bonds are issued;  (B) Pledge and assign the interest and rights of the department under the project agreement or other agreement with respect to the project or the special purpose revenue bonds;  (C) Pledge and assign any bond, debenture, note, or other evidence of indebtedness received by the department with respect to the project; or  (D) Any combination of the foregoing;  (5) To extend or renew any project agreement or any other agreement related thereto; provided that any renewal or extension shall be subject to the approval of the governor unless made in accordance with provisions for the extension or renewal contained in a project agreement or related agreement previously approved by the governor; and  (6) To do any and all things necessary or convenient to carry out its purposes and exercise the powers given and granted in this part.  When the department finances or refinances a project by the issuance of special purpose revenue bonds as contemplated by this part, the State shall not exercise the power of eminent domain to acquire a project or any part thereof for lease or transfer to a project party, nor shall the State operate a project on behalf of a project party. [L 2006, c 148, pt of §1] Note  Section heading amended by L 2014, c 103, §3.