HRS §304A-107
University borrowing and state fund advances
This section lets the university borrow up to $100,000 from the state without interest, as long as it repays within the same fiscal year unless the finance director extends the deadline. It also allows the finance director to advance up to $100,000 for federally funded research and training costs that will be reimbursed.
state agencies
The statute, as written — Loans; advances
The university may borrow, from time to time from the state treasury, sums that in the aggregate shall not exceed $100,000, and the director of finance may make the loans to the university, without interest; provided that the loans shall be repaid within the same fiscal year unless extended by the director. In addition to the foregoing, the director of finance may advance funds to the university when required to meet reimbursable costs incurred in connection with federally financed research and training projects; provided that the advances shall not amount in the aggregate to more than $100,000 at any time.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.