Terms Used In Hawaii Revised Statutes 206M-42

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Cost: means the total cost in carrying out all undertakings that the development corporation deems reasonable and necessary for the development of a project or econimic zone, including but not limited to the cost of studies, surveys, plans, and specifications, architectural, design, engineering, or any other special related services; the cost of site preparation and development, demolition, construction, reconstruction, rehabilitation, and improvement; the cost of financing such project or econimic zone, including interest on bonds issued to finance such project or econimic zone from the date thereof to the estimated date of completion of such project or econimic zone as determined by the board; the cost of an allocable portion of the administrative and operating expenses of the development corporation related to the development of such project or econimic zone; and the cost of indemnity and surety bonds, premiums on policies of insurance, legal fees, and fees and expenses of trustees, depositories, and paying agents for the bonds, and for the issuance of letters of credit or other banking arrangements whether for the development corporation or a qualified person; all as the development corporation shall deem necessary. See Hawaii Revised Statutes 206M-1
• Development corporation: means the Hawaii technology development corporation established by section 206M-2. See Hawaii Revised Statutes 206M-1
• 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}
• Person: means a sole proprietorship, partnership, joint venture, corporation, or other association of persons organized for commercial or industrial purposes. See Hawaii Revised Statutes 206M-1
• Special facility: means one or more buildings, structures, or facilities and the land thereof located in an econimic zone for the technology industry, including, without limitation, facilities for technology research, development, support, processing, and manufacturing, which are the subject of a special facility lease. See Hawaii Revised Statutes 206M-41
• Special facility lease: includes a contract, lease, or other agreement, or any combination thereof, the subject matter of which is the same special facility. See Hawaii Revised Statutes 206M-41
• Special facility revenue bonds: means all bonds, notes, and other instruments of indebtedness of the State issued pursuant to this part and part III of chapter 39. See Hawaii Revised Statutes 206M-41