HRS §163D-11
How revenue bonds are priced and sold
This section lets the corporation decide the interest rate, payment dates, and sale terms for revenue bonds. It also lists what costs can be included in the bond amount, like construction, fees, and insurance. Bonds can be sold publicly or privately.
developersfinancial institutions
The statute, as written — Revenue bonds; interest rate, price, and sale
(a) The revenue bonds issued pursuant to this chapter shall bear interest at such rate or rates and shall be payable on such date or dates, as the corporation shall determine. (b) The corporation shall include the costs of undertaking the project facility for which the revenue bonds are issued in determining the principal amount of revenue bonds to be issued. In determining the cost of undertaking the project facility, the corporation may include: (1) The cost of constructing, acquiring, remodeling, furnishing, and equipping the project facility, including the acquisition of the site thereof; (2) The cost of purchasing or funding loans or other agreements entered into for the project facility; (3) The costs of studies and surveys; (4) Insurance premiums; (5) Underwriting fees; (6) Financial consultant, legal, accounting, and marketing services incurred; (7) Reserve account, trustee, custodian, and rating agency fees; and (8) Any capitalized interest. (c) The revenue bonds may be sold at public or private sale, and for a price as may be determined by the corporation.
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