SB2131

Report Title:

Molokai Irrigation System

Description:

Increases the appropriation ceiling of the Molokai Irrigation System revolving fund by $1. Issues revenue bonds in the sum of $1 to implement the recommendations of the Hawaii Agriculture Research Center to the Molokai Irrigation System to develop new water sources, improve the current system, and conduct management actions.

THE SENATE	S.B. NO.	2131
TWENTY-FIRST LEGISLATURE, 2002
STATE OF HAWAII

A BILL FOR AN ACT

 

relating to the molokai irrigation system.

 

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

SECTION 1. The legislature, by Senate Resolution 34, S.D. 1, requested an assessment and recommendations for the Molokai Irrigation System. As a result, the Hawaii Agriculture Research Center for the Agribusiness Development Corporation conducted a study entitled "Assessment and Improvement Recommendations for the Molokai Irrigation System."

The recommendations contained in the study require the Molokai Irrigation System to develop new water sources, improve the current system, and conduct management actions.

The purposes of this Act are to authorize the Molokai Irrigation System to implement these recommendations by increasing the appropriation ceiling of the irrigation system revolving fund for fiscal year 2002-2003 and by issuing revenue bonds.

SECTION 2. There is appropriated out of the Molokai irrigation system revolving fund of the State of Hawaii the sum of $1, or so much thereof as may be necessary for fiscal year 2002-2003, to enable the Molokai Irrigation System to develop new water sources, improve the current system, and conduct management actions.

SECTION 3. The board of agriculture is authorized to issue revenue bonds in the sum of $1, or so much thereof as may be necessary, and the same sum, or so much thereof as may be necessary, is appropriated for fiscal year 2002-2003 for the purpose of implementing the recommendations by the Hawaii Agriculture Research Center to the Molokai Irrigation System to develop new water sources, improve the current system, and conduct management actions. The board of agriculture shall issue the revenue bonds under section 167-7, Hawaii Revised Statutes. The proceeds of the bonds may be used to cover the cost of issuance of the bonds.

SECTION 4. The sum appropriated by the revenue bonds shall be expended by the department of agriculture for the purposes of this Act.

SECTION 5. The sum appropriated shall be expended by the department of agriculture for the purposes of this Act.

SECTION 6. This Act shall take effect on July 1, 2002.

INTRODUCED BY:	_____________________________