(a) There is created a special fund to be known as the stadium special fund into which funds collected by the authority shall be deposited. The stadium special fund shall be applied, used, and disposed of for the payment of:
Terms Used In Hawaii Revised Statutes 109-3
Contract: A legal written agreement that becomes binding when signed.
(1) The expenses of the operation, maintenance, promotion, and management of; and(2) All or a portion of the cost of financing any capital improvement project for; the stadium and related facilities; provided that all services required for the stadium and related facilities shall be performed by persons hired on contract or otherwise, without regard for chapter 76; provided further that the authority shall report to the legislature all receipts and expenditures of the stadium special fund account twenty days prior to the convening of each regular session until the stadium special fund is closed pursuant to subsection (c).(b) Notwithstanding subsection (a), all moneys collected by the stadium authority after June 30, 2021, shall be deposited into the stadium development special fund pursuant to section 109-3.5.(c) Upon June 30, 2021, the stadium special fund established herein shall be abolished, and all appropriations, encumbrances, and the remaining unencumbered balance shall be transferred to the stadium development special fund.
