HRS §269-165
Financing orders stay in effect until bonds are paid
This section says that a financing order for green infrastructure bonds stays in effect until all bonds and related costs are fully paid or defeased. Once the order is final, it cannot be changed or canceled by the commission, except through the approved adjustment mechanism. The department alone decides when to issue the bonds.
state agencies
The statute, as written — ‑165] Bonds financing order
(a) A financing order shall remain in effect until the bonds issued under the financing order and all financing costs related to the bonds have been paid in full or defeased by their terms. A financing order shall remain in effect and unabated notwithstanding the bankruptcy, reorganization, or insolvency of any electric utility or any affiliate of the electric utility or the commencement of any judicial or nonjudicial proceeding on the financing order. (b) Once a financing order has become final as provided by law, the financing order shall become irrevocable. The public utilities commission may not directly or indirectly, except as provided in the adjustment mechanism approved in the financing order, reduce, impair, postpone, rescind, alter, or terminate the green infrastructure fee authorized in the financing order or impair the green infrastructure property or the collection of the green infrastructure fee so long as any bonds are outstanding or any financing costs remain unpaid. (c) Under a final financing order, the department shall retain sole discretion to cause bonds to be issued, including the right to defer or postpone such issuance, assignment, sale, or transfer.
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