§49-9 Covenants in resolution authorizing issuance of revenue bonds.
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/hi/chapter-49/49-9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§49-9 Covenants in resolution authorizing issuance of revenue bonds. Any resolution or resolutions authorizing the issuance of revenue bonds under this chapter may contain covenants including but not limited to:
(1)The purpose or purposes to which the proceeds of sale of the revenue bonds shall be applied and the use and disposition thereof;
(2)The use and disposition of the revenue of the undertaking or the loan program for which the revenue bonds are to be issued, or the user taxes derived therefrom, or both, to the extent pledged to the payment of the revenue bonds, including the priority of payments from such revenue and the creation and maintenance of reserves and the investment thereof;
(3)Transfer from the general fund of the county to the account or accounts of the undertaking an amount equal to the cost of furnishing the county or any of its departments, boards, or agencies, at their request, with the services, facilities and commodities of the undertaking;
(4)The issuance of other or additional revenue bonds payable from the revenue of the loan program or of the undertaking, or the user taxes derived therefrom, or both revenue and user taxes, to the extent pledged to the payment of the revenue bonds;
(5)The operation, maintenance, and repair of the undertaking or the administration, operation, and maintenance of the loan program; or
(6)Other appropriate suit, action, or proceeding in any court of competent jurisdiction. [L 1989, c 80, pt of §3]