§10-31 Office of Hawaiian affairs projects and loan programs to be self-supporting.

329 words·~1 min read·/hi/chapter-10/10-31

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§10-31 Office of Hawaiian affairs projects and loan programs to be self-supporting. The board shall impose and collect rates, rents, fees, and charges for the use or enjoyment and services of the facilities of each office project or for each loan program, as applicable, and shall revise such rates, rents, fees, and charges, whenever necessary, or direct all or any portion of the revenues of the office, so that in the aggregate, the revenues of the office project or the loan program, and the revenues of the office shall produce revenue at least sufficient to:

(1)Pay the cost of maintenance of the office project or projects or administering the loan program or programs, including reserves therefor;

(2)Pay when due all bonds and interest thereon, for the payment of which the revenue is or has been pledged, charged, or otherwise encumbered, including reserves therefor;

(3)Reimburse the general fund of the State for any bond requirements on general obligation bonds issued for an office project or projects or for a loan program or programs to the extent required by law; and

(4)Carry out all covenants and provisions of the resolution or resolutions authorizing the issuance of revenue bonds.

Neither this section nor any other section of this part shall preclude the making of appropriations to the board, the acceptance of gifts by the board, or the use of revenues of the office or other funds derived from the sale of stocks, bonds, or other assets in the possession of the board to pay all or part of the costs of construction, of maintenance, or both, of any or all office projects or the administration of any loan program.

All moneys received pursuant to this section shall be administered as trust funds, as provided by this chapter, and in separate accounts designated for each office project or loan program. [L 1994, c 283, pt of §2(2); am L 2009, c 146, §9; am L 2013, c 171, §11]