HOUSE OF REPRESENTATIVES	H.B. NO.	258
THIRTY-SECOND LEGISLATURE, 2023		H.D. 2
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO THE ACQUISITION OF THE SAINT FRANCIS SCHOOL CAMPUS FOR THE UNIVERSITY OF HAWAII AT MANOA.

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

SECTION 1. The board of regents of the University of Hawaii, with the approval of the governor, is authorized to issue revenue bonds from time to time to finance, in whole or in part, the costs of acquiring the Saint Francis School campus located at 2707 Pamoa road in Honolulu. The total principal amount of the revenue bonds authorized by this Act shall not exceed $          ; provided that neither revenue bonds issued to refund revenue bonds heretofore issued, to the extent that such refunding revenue bonds do not exceed the principal amount of the revenue bonds being refunded, nor revenue bonds of the board outstanding at the effective date of this Act shall cause the amount of the above authorization to be decreased. The revenue bonds shall be issued pursuant to the provisions of part VI of chapter 304A, Hawaii Revised Statutes. The principal and interest on the revenue bonds, to the extent not paid from the proceeds of such bonds, shall be paid solely from and secured solely by the revenue of the university, as defined in section 304A-2671, Hawaii Revised Statutes.

SECTION 2. There is appropriated out of the revenue bond proceeds and interest earned thereon authorized by this Act the sum of $           or so much thereof as may be necessary for fiscal year 2023-2024 to carry out the purposes of section 1 of this Act; provided that any unexpended and unencumbered balance of the appropriation shall not lapse at the end of fiscal year 2023-2024 and shall lapse instead on June 30, 2026.

The sum appropriated shall be expended by the board of regents of the University of Hawaii.

SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $           or so much thereof as may be necessary for fiscal year 2023-2024 for the acquisition of the Saint Francis School campus located at 2707 Pamoa road in Honolulu.

The sum appropriated shall be expended by the University of Hawaii for the purposes of this Act.

SECTION 4. This Act shall take effect on June 30, 3000.

Report Title:

UH; Saint Francis School; Campus; Acquisition; Revenue Bonds; Appropriation

Description:

Authorizes the Board of Regents of the University of Hawaii to issue revenue bonds for the acquisition of the Saint Francis School campus located at 2707 Pamoa Road in Honolulu. Appropriates moneys to the University of Hawaii for the acquisition of the Saint Francis School campus located at 2707 Pamoa Road in Honolulu. Effective 6/30/3000. (HD2)

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