HRS §206M-13
Special purpose revenue bonds as legal investments and lawful security
This section says that special purpose revenue bonds issued under this chapter are legal investments for certain financial groups and for public funds. They can also be used as security for public deposits, up to their value, with any attached unpaid coupons.
financial institutions
The statute, as written — Special purpose revenue bonds as legal investments and lawful security
The special purpose revenue bonds issued pursuant to this chapter shall be and are declared to be legal and authorized investments for banks, savings banks, trust companies, savings and loan associations, insurance companies, credit unions, fiduciaries, trustees, guardians, and for all public funds of the State or other political corporations or subdivisions of the State. The special purpose revenue bonds shall be eligible to secure the deposit of any and all public funds of the State and any and all public funds of counties or other political corporations or subdivisions of the State, and the bonds shall be lawful and sufficient security for the deposits to the extent of their value when accompanied by all unmatured coupons, if any, appertaining thereto.
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