SB2587

Report Title:

Student Housing; Revenue Bonds; HCDCH; Atherton YMCA

 

Description:

Authorizes the housing and community development corporation of Hawaii to issue $15,000,000 in revenue bonds for plans, land acquisition, design, and construction for a student housing and mixed-use project at the site of the Atherton YMCA.

THE SENATE	S.B. NO.	2587
TWENTY-FIRST LEGISLATURE, 2002
STATE OF HAWAII

A BILL FOR AN ACT

 

authorizing the issuance of revenue bonds and making an appropriation for student housing.

 

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

SECTION 1. The housing and community development corporation of Hawaii is authorized to issue revenue bonds in the sum of $15,000,000, 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 plans, land acquisition, design, and construction for a student housing and mixed-use project at the site of the Atherton Young Men's Christian Association.

SECTION 2. The appropriation made for the capital improvement project authorized by this Act shall not lapse at the end of the fiscal year for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2005, shall lapse as of that date.

SECTION 3. The sum appropriated shall be expended by the housing and community development corporation of Hawaii for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2002.

INTRODUCED BY:	_____________________________