Subject to any agreement with the holders of its revenue bonds, the authority may:

(1) Notwithstanding any other law to the contrary, invest its moneys not required for immediate use, including proceeds from the sale of any revenue bonds, in any investment in accordance with procedures prescribed in a trust indenture;

Terms Used In Hawaii Revised Statutes 206E-106

  • Authority: means the Hawaii community development authority. See Hawaii Revised Statutes 206E-101
  • Revenue bonds: means bonds, notes, or other evidence of indebtedness of the authority issued to finance any of the reserved housing loan programs under this part. See Hawaii Revised Statutes 206E-101
  • Trust indenture: means an agreement by and between the authority and the trustee, which sets forth the duties of the trustee with respect to the revenue bonds, the security therefor, and other provisions as deemed necessary or convenient by the authority to secure the revenue bonds. See Hawaii Revised Statutes 206E-101
(2) Purchase its revenue bonds out of any fund or money of the authority available therefor, and hold, cancel, or resell the revenue bonds.

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