Chapter 49 — [Old]

§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 o…

§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, re…

§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 …

§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 charg…

§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 ther…

§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…

§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 incom…

§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, a…

§49-17 Duties of the director of finance. (a) The director of finance shall be the fiscal agent for the payment of all principal and interest, and for the transfer of revenue bonds. The director of finance may appoint other fiscal agents and transfer agents. The director of finan…

§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 t…

§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 bo…

§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 t…

§49-20 Refunding revenue bonds. Whenever the county has any outstanding revenue bonds or general obligation bonds issued for an undertaking or loan program pursuant to section 47-4, and the governing body determines that it will be financially sound and advantageous to the county…

§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 chapte…

§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]

§49-23 Consent of state agencies. It shall not be necessary for any county proceeding under this chapter to obtain any certificate of convenience or necessity, franchise, license, permit, or other authorization from any bureau, board, commission, or other like instrumentality of …

§49-24 Validation of proceedings. All proceedings heretofore taken with respect to the contracting of revenue bonded indebtedness and the issuance, sale, execution, and delivery of revenue bonds by or on behalf of the county, are hereby validated, ratified, approved and confirmed…

§49-25 Construction of chapter. The powers conferred by this chapter shall be in addition and supplemental to the powers conferred by any other law or charter. The undertaking may be acquired, purchased, constructed, reconstructed, improved, bettered, and extended, and the loan p…

§49-3 Additional powers of counties. (a) In addition to the powers that it may now have, any county under this chapter may: (b) The governing body of the county in determining the cost may include: (c) Subject to the approval of the governing body, or in counties with a populatio…

§49-4 Authorization of undertaking, loan program and revenue bonds; details of revenue bonds. (a) The acquisition, purchase, construction, reconstruction, improvement, betterment, or extension of any undertaking or the establishment and administration of a loan program may be aut…

§49-5 Sale of revenue bonds. (a) The director of finance may make such arrangements as may be necessary or proper for the sale of each issue of revenue bonds or part thereof as are issued under this chapter, including, without limitation, arranging for the preparation and printin…

§49-6 Form and execution of revenue bonds. (a) Revenue bonds issued under this chapter shall be in such form as the governing body may determine, shall be lithographed or engraved, shall be manually signed by the director of finance or deputy director of finance, shall be counter…

§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…

§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 author…

§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: