HRS §206E-183
Checking bond agreements before signing special facility leases
The authority cannot sign a special facility lease unless it first checks that doing so won't break any promise in its bond documents. This rule protects bondholders by making sure the lease is allowed under existing agreements.
state agencies
The statute, as written — Findings and determination for special facility leases
The authority shall not enter into any special facility lease unless the authority at or prior to the entering into of such special facility lease shall find and determine that the entering into of such special facility lease would not be in violation of or result in a breach of any covenant contained in any resolution or certificate authorizing any bonds of the authority then outstanding.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.