HRS §269-169
State promises not to hurt green infrastructure projects
The State promises bondholders and financing parties that it will not take actions that lower the value of green infrastructure property or reduce the related fee until all bond payments and financing costs are fully paid. The State can include this promise in bond documents.
financial institutionsstate agencies
The statute, as written — Green infrastructure property; non-impairment
(a) In furtherance of section 39-61, the State pledges to and agrees with the bondholders and any financing parties under a financing order that the State will not take or permit any action that impairs the value of green infrastructure property under the financing order, or reduce, alter, or impair the green infrastructure fee that is imposed, charged, collected, or remitted for the benefit of the bondholders and any financing parties, until any principal, interest, and redemption premium in respect of bonds, all financing costs, and all amounts to be paid to a financing party under an ancillary agreement are paid or performed in full or unless adequate provision has been made by law for the protection of bondholders and other financing parties. (b) In issuing the bonds, the department may include the pledge specified in subsection (a) in the bonds, ancillary agreements, and documentation related to the issuance and marketing of the bonds.
Sections this one refers to
§39-61 Setting fees to keep projects self-supporting
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