(a) Each project party with a project agreement with the department shall estimate the benefits derived from the use of the proceeds of special purpose revenue bonds. The benefits estimated shall be based on the creation of new jobs and potential effect on tax receipts. The format of and method for determining the estimates shall be established by the department and shall be uniform for each project party.

Terms Used In Hawaii Revised Statutes 39A-361

  • bonds: means bonds, notes, or other evidences of indebtedness of the State issued pursuant to this part. See Hawaii Revised Statutes 39A-341
  • Department: means the department of budget and finance. See Hawaii Revised Statutes 39A-341
  • Project: means any work on a dam, reservoir, or appurtenant works necessary to maintain or improve the dam, reservoir, or appurtenant works. See Hawaii Revised Statutes 39A-341
  • Project agreement: means any agreement entered into under this part by the department with a project party to finance, construct, operate, or maintain a project from the proceeds of special purpose revenue bonds, or to lend the proceeds of special purpose revenue bonds to assist dam and reservoir owners, including without limitation any loan agreement. See Hawaii Revised Statutes 39A-341
  • Project party: means a person or persons who are dam and reservoir owners. See Hawaii Revised Statutes 39A-341
(b) To promote public understanding of the role played by special purpose revenue bonds in providing benefits to the general public, the department shall take appropriate steps to ensure public access to and scrutiny of the estimates determined under subsection (a).
(c) The department shall adopt rules under chapter 91 for the purposes of this section.

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