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.
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
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
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
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.
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(b) The proceeds from the sale of any general obligation bonds authorized and issued for purposes of this chapter shall be deposited in or credited to the fund.(c) Any net proceeds or revenue from the operation, management, sale, lease, or other disposition of land or the improvements on the land acquired or constructed by the board under the provisions of this chapter shall also be deposited in or credited to the fund.(d) The appropriate percentage identified under § 247-7 of all taxes imposed and collected under chapter 247 shall be deposited in or credited to the fund every fiscal year.(e) Moneys from any other private or public source may be deposited in or credited to the fund; provided that mandates, regulations, or conditions on these funds do not conflict with the use of the fund under this chapter. Moneys received as a deposit or private contribution shall be deposited, used, and accounted for in accordance with the conditions established by the agency or person making the contribution.(f) The fund shall be administered and managed by the department.(g) The acquisition of interests or rights in land having value as a resource to the State for the preservation of the following shall constitute a public purpose for which public funds may be expended or advanced:
(1) Watershed protection;(2) Coastal areas, beaches, and ocean access;(3) Habitat protection;(4) Cultural and historical sites;(5) Recreational and public hunting areas;(6) Parks;(7) Natural areas;(8) Agricultural production; and(9) Open spaces and scenic resources.(h) The fund shall be used for:
(1) The acquisition of interests or rights in land having value as a resource to the State, whether in fee title or through the establishment of permanent conservation easements under chapter 198 or agricultural easements;(2) The payment of any debt service on state financial instruments relating to the acquisition of interests or rights in land having value as a resource to the State;(3) Annual administration costs for the fund, not to exceed five per cent of annual fund revenues of the previous year[; and](4) Costs related to the operation, maintenance, and management of lands acquired by way of this fund that are necessary to protect, maintain, or restore resources at risk on these lands, or that provide for greater public access and enjoyment of these lands; provided that the costs related to the operation, maintenance, and management of lands acquired by way of this fund do not exceed five per cent of annual fund revenues of the previous year.(i) Based on applications from state agencies, counties, and nonprofit land conservation organizations, the department, in consultation with the senate president and speaker of the house of representatives, shall recommend to the board specific parcels of land to be acquired, restricted with conservation easements, or preserved in similar fashion. The board shall review the selections and approve or reject the selections according to the availability of moneys in the fund. To be eligible for grants from the fund, state and county agencies and nonprofit land conservation organizations shall submit applications to the department that contain:
(1) Contact information for the project;(2) A description of the project;(3) The request for funding;(4) Cost estimates for acquisition of the interest in the land;(5) Location and characteristics of the land;(6) The project’s public benefits, including but not limited to where public access may be practicable or not practicable and why;(7) Results of the applicant’s consultation with the staff of the department, the department of agriculture, and the agribusiness development corporation regarding the maximization of public benefits of the project, where practicable; and(8) Other similar, related, or relevant information as determined by the department.(j) For applications approved by the board, the board may acquire land having value as a resource to the State, pursuant to section 173A-4, or the board may award grants from the fund to the qualifying state or county agencies or nonprofit land conservation organizations for the preservation of the real property. Where the recipient of a grant is a county agency or nonprofit land conservation organization, the board shall require additional matching funds of at least twenty-five per cent of the total project costs. Matching funds may be in the form of:
(1) Direct moneys;(2) A combination of public and private funds;(3)Land value donation;(4) In-kind contributions; or(5) Any combination of the above.(k)Evidence of the matching funds in subsection (j) shall be made available by the qualifying entities prior to distribution of the fund grant.(l) The board shall:
(1) Track amounts disbursed from the fund;(2) Prepare and submit an annual report to the governor and the legislature at least twenty days prior to the convening of each regular session. The annual report shall include:
(A) A summary of all interests or rights in land acquired during the preceding fiscal year;(B) A summary of what value each newly acquired land has as a resource to the State;(C) Proposals for future land acquisitions, including a summary of the resource value that the land may possess;(D) A financial report for the preceding fiscal year; and(E) Objectives and budget projections for the following fiscal year; and(3) Make copies of the annual report available to the public.
