HB2045 SD1

Report Title:

County Revenue Bonds; County Corporations; Electricity

 

Description:

For any county with a resident population under 100,000, authorizes a corporation established by a county as a public body corporate and politic and instrumentality and agency of the county for the purpose of owning or operating facilities for the furnishing of electricity, or any board of a county that owns or operates facilities for the same, to issue revenue bonds; sunsets June 30, 2004. (SD1)

HOUSE OF REPRESENTATIVES	H.B. NO.	2045
TWENTY-FIRST LEGISLATURE, 2002		H.D. 1
STATE OF HAWAII		S.D. 1

A BILL FOR AN ACT

 

relating to revenue bonds.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 49-1, Hawaii Revised Statutes, is amended as follows:

1. By amending the definition of "board" to read:

""Board" means any department, corporation, or board of a county authorized to issue revenue bonds under this chapter."

2. By amending the definition of "county" to read:

""County" means [the]:

(1) The city and county of Honolulu and the counties of Hawaii, Kauai, and Maui[, the];

(2) The board of water supply of the city and county of Honolulu and the boards of water supply of the counties of Hawaii, Kauai, and Maui[.]; and

(3) For a county with a current resident population under 100,000, any corporation established by a county ordinance, resolution, or charter as a public body corporate and politic and instrumentality and agency of the county for the purpose of owning or operating facilities for the furnishing of electricity, or any board of a county that owns or operates facilities for the furnishing of electricity."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval and shall be repealed on June 30, 2004.