HRS §201H-35
Bond financing for the dwelling unit revolving fund
This section lets the state finance director borrow up to a set amount for the dwelling unit revolving fund. Until that money arrives, the state can use general funds and then pay itself back. The director can keep bond and note money in separate accounts and use it for any purpose in this chapter.
state agencies
The statute, as written — 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.
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