HRS §304A-2686
Fiscal agent for university revenue bonds
This section says the state finance director must help the university board sell revenue bonds and must act as the bond payment agent. The director must set up state treasury accounts for bond money, other required payments, and reserves. Other state finance laws also apply.
courtsstate agencies
The statute, as written — Fiscal agents
The director of finance of the State, when requested by the board, shall render full and complete assistance to the board in the preparation and sale of revenue bonds issued pursuant to this subpart. The director of finance shall be the fiscal agent of the board for the payment of all principal and interest, and for the transfer, of revenue bonds. Sections 36‑3 and 39‑12 shall apply to this subpart. The director of finance shall set up in the treasury of the State suitable accounts for: (1) Deposit of all revenues of university projects, university systems, or networks and for the payment of all revenue bonds and the interest thereon; (2) Deposit of all other payments provided or required by this subpart, or any resolution or resolutions of the board; and (3) Holding of all reserves created under this subpart, or pursuant to any resolution of the board.
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