(a) The legislature may authorize the corporation to acquire agricultural lands for the protection of agricultural lands, public land banking, or the promotion of farm ownership and diversified agriculture.
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Terms Used In Hawaii Revised Statutes 163D-31

  • Agriculture: means the production for consumption within the State and exporting of plant and animal life on land and within ponds and other bodies of water for food, fiber, and raw materials for value-added products, and any agricultural enterprise or enterprises organized for the production of agricultural materials or value-added products based on detailed marketing analysis and strategies to exploit profitable potentials in local, national, and international markets, including general farming, cane growing, fruit growing, flower growing, aquaculture, growing of timber and forest products, apiary, grazing, dairying, and the production of any form of livestock or poultry, and their appurtenant services and facilities. 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
(b) The acquisition shall be authorized by a bill enacted into law and shall contain:

(1) A statement of the value of the interest in land as a resource to the State;
(2) A description of the specific parcel of land or agricultural easement proposed to be acquired;
(3) The name of the owner of the property; and
(4) The estimated costs of acquiring the interest in the land.
(c) The landowner shall receive payment for the interest in the land in a lump sum, through an installment purchase agreement as determined pursuant to section 163D-32, or from revenues derived from the issuance of revenue bonds pursuant to § 163D-9.

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