Subject to any agreement with the holders of its revenue bonds, the corporation may:

(1) Invest its moneys not required for immediate use, including proceeds from the sale of revenue bonds, in any investment in accordance with procedures prescribed in a trust indenture; and

Terms Used In Hawaii Revised Statutes 163D-12

  • Corporation: means the agribusiness development corporation. See Hawaii Revised Statutes 163D-2
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fund: means the Hawaii agricultural development revolving fund. See Hawaii Revised Statutes 163D-2
  • Revenue bonds: means bonds, notes, or other evidence of indebtedness of the corporation issued to finance any project facility. See Hawaii Revised Statutes 163D-2
  • Trust indenture: means an agreement by and between the corporation and a trustee that sets forth the duties of the trustee with respect to the revenue bonds, the security thereof, and other provisions as may be deemed necessary or convenient by the corporation to secure the revenue bonds. See Hawaii Revised Statutes 163D-2
(2) Purchase its revenue bonds out of any fund or money of the corporation available therefor, and hold, cancel, or resell the revenue bonds.