(a) The board shall be responsible for the reimbursement of debt service on the Turtle Bay reimbursable general obligation bonds from the land conservation fund in the amount of $1,500,000 per fiscal year until the bonds are fully amortized.

Terms Used In Hawaii Revised Statutes 173A-13

  • Board: means the board of land and natural resources. See Hawaii Revised Statutes 173A-2
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Land: means the earth, water, and air, above, below, or on the surface, and includes easements and rights in land, and any improvement on land. See Hawaii Revised Statutes 173A-2
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(b) Moneys expended for the payment of debt service on the Turtle Bay reimbursable general obligation bonds shall be deposited into the Turtle Bay conservation easement special fund.

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