(a) In addition to the powers that it may now have, any county under this chapter may:

Terms Used In Hawaii Revised Statutes 49-3

  • Board: means any department or board of a county authorized to issue revenue bonds under this chapter. See Hawaii Revised Statutes 49-1
  • 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. See Hawaii Revised Statutes 49-1
  • Director of finance: means the director of finance of the various counties. See Hawaii Revised Statutes 49-1
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Governing body: means council of each county, or any other body exercising the legislative powers of the county. See Hawaii Revised Statutes 49-1
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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. See Hawaii Revised Statutes 49-1

  • 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. See Hawaii Revised Statutes 49-1
  • 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. See Hawaii Revised Statutes 49-1
  • 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. See Hawaii Revised Statutes 49-1
  • 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. See Hawaii Revised Statutes 49-1
(1) Construct, acquire by gift, purchase, or the exercise of the right of eminent domain, reconstruct, improve, better, or extend any undertaking, within or without the county, or partially within or partially without the county, and acquire by gift, purchase, or the exercise of the right of eminent domain, lands or rights in land or water rights in connection with the land rights or undertake the establishment and administration of a loan program as authorized by the law;
(2) Operate and maintain any undertaking and maintain a loan program as authorized by law and furnish the services, facilities, and commodities thereof for its own use and for the use of public and private consumers within or without the territorial boundaries of the county;
(3) Issue its revenue bonds to finance in whole or in part the cost of the acquisition, purchase, construction, reconstruction, improvement, betterment, or extension of any undertaking or the establishment and administration of any loan program as authorized by law;
(4) Impose, prescribe, and collect rates, rentals, fees, and charges for the use and services of, and the facilities and commodities furnished by, the undertaking or the use and services of the loan program as authorized by law, as provided in section 49-10; and
(5) Pledge to the punctual payment of the revenue bonds and interest thereon or covenant to pay into any special funds from which any revenue bonds may be payable, all or any portion of the revenue of the undertaking or loan program or of any part thereof, or the user taxes derived therefrom, or any combination of both (including improvements, betterments, or extensions thereto thereafter constructed or acquired) sufficient, among other things, to pay the revenue bonds and interest thereon as the same shall become due and create and maintain reasonable reserves therefor.
(b) The governing body of the county in determining the cost may include:

(1) All costs and estimated costs of the issuance of the revenue bonds;
(2) All architectural, engineering, inspection, financial, and legal expenses;
(3) All costs of establishing or administering a loan program authorized by law;
(4) The cost of causing the payment of the principal or interest or both of the revenue bonds to be insured or guaranteed;
(5) The initial cost of any support facility obtained as permitted by § 49-8; and
(6) Interest that is estimated will accrue on the bonds during the construction or origination period and for six months thereafter.
(c) Subject to the approval of the governing body, or in counties with a population of five hundred thousand or more if authorized by a county charter to issue revenue bonds in its own name, a board may exercise all or any part of the powers vested in the county pursuant to this chapter but only with respect to an undertaking or loan program under the jurisdiction of the board. In the event a board exercises any of the powers vested in the county pursuant to this chapter, the term governing body as used in this chapter shall be deemed to mean the board, and the term director of finance shall be deemed to mean the chief financial officer of the board.

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