§163D-15.5  Waiahole water system revolving fund.  (a)  There is established within the state treasury a revolving fund to be known as the Waiahole water system revolving fund, which shall be administered by the corporation and into which shall be deposited all revenues from assessments, tolls, appropriations made by the legislature to the fund, interest on investments attributable to the Waiahole water system, and other income, receipts, and revenues received by the corporation from the operation of the Waiahole water system.  Moneys in the Waiahole water system revolving fund shall be expended by the corporation for the acquisition, planning, design, improvement, construction, equipping, furnishing, administering, operating, and maintaining of the Waiahole water system and any other purpose deemed necessary by the corporation for the purpose of acquiring and operating the Waiahole water system.  The corporation may utilize contributions of money, labor, materials, and property that may be otherwise available from any person or instrumentality.

     (b)  No expenditure, use, or transfer of funds from the Waiahole water system revolving fund by the corporation shall be subject to chapter 42F or 103. [L 1998, c 111, §3; am L 2004, c 216, §19]

Note

  Acquisition of Waiahole water system shall not affect the powers and authority of the commission on water resource management or its powers to modify water allocations.  L 1998, c 111, §15.