§39-2 Application of proceeds.
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/hi/chapter-39/39-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§39-2 Application of proceeds. The proceeds of bonds so issued shall be exclusively devoted to the purpose or purposes defined and expressed in the acts of the legislature authorizing the issuance of bonds, and the proceeds shall be devoted to such purposes in such order as the governor may determine. The governor may allot the proceeds of any issue of bonds to a particular purpose or to several purposes. The proceeds of any issue of bonds may be allotted to various purposes irrespective of whether or not the purposes have all been provided for by the same legislative act and an allotment may be made of only a portion of the proceeds authorized for a particular purpose.
The governor may amend the governor's allotments from time to time. The purpose or purposes of issuance need not be stated in any bond. [L 1988, c 28, pt of §3]