HRS §206E-105
Rules for selling housing loan revenue bonds
This section explains how the authority can sell revenue bonds for reserved housing loan programs. It sets interest payment options, allows public or private sales, and lists costs that can be included. It also says certain state rules do not apply and the state consents to federal taxation of bond interest.
borrowersstate agencies
The statute, as written — Revenue bonds; interest rate, price, and sale
(a) The revenue bonds shall bear interest at a rate or rates payable monthly, quarterly, or semi-annually. (b) The authority shall include the costs of undertaking and maintaining the reserved housing loan programs for which the revenue bonds are issued in determining the cost of undertaking and maintaining the reserved housing loan programs, the authority may include the cost of purchasing or funding loans or other agreements entered into for the reserved housing loan programs; the costs of studies and surveys; insurance premiums; underwriting fees; financial consultant, legal, accounting, and marketing services incurred; reserve account, trustee, custodian, and rating agency fees; and interest on the bonds for a period not to exceed one year from the date of issuance. (c) The revenue bonds may be sold at public or private sale, and for a price as may be determined by the authority to be in the best interest of the State. (d) Section 39-65 shall not apply to revenue bonds issued for the purpose of undertaking and maintaining any of the reserved housing loan programs as permitted by this part. The legislature consents to the taxation by the United States of interest on revenue bonds issued for the purpose of undertaking and maintaining any of the reserved housing loan programs as permitted by this part.
Sections this one refers to
§39-65 Tax exemption for state projects and revenue bonds
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