[§201H-35] Bond financing.
133 words·~1 min read·
/hi/201h-35A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§201H-35] Bond financing. The director of finance may issue general obligation bonds and short-term project notes of the State in an aggregate amount not to exceed $105,000,000 for the dwelling unit revolving fund created by section 201H-191. Pending the receipt of funds from the issuance and sale of the bonds and notes, the amount required for the purposes of this chapter shall be advanced from the general fund of the State. Upon the receipt of the bond or note funds, the general fund shall be reimbursed.
The director of finance may sequester and separate the proceeds from the sale of the bonds and notes into separate funds and the amounts in either fund may be used for any of the purposes set forth in this chapter. [L 2006, c 180, pt of §3]