HRS §356D-25
Investing reserve and extra funds
This section lets the housing authority invest money it doesn't need right away, including bond proceeds, in the same types of property or investments the state finance director can use. Funds kept outside the state treasury can be invested for up to 35 years. Other government property rules don't apply unless lawmakers say so.
state agencies
The statute, as written — Investment of reserves, etc
The authority may invest any funds held in reserves or sinking funds or any funds not required for immediate disbursement, including the proceeds of bonds, in property or securities in which the director of finance may legally invest, as provided in section 36-21; provided that funds held outside the state treasury may be invested for terms not to exceed thirty-five years. No provisions with respect to the acquisition, operation, or disposition of property by other government agencies shall be applicable to the authority unless the legislature shall specifically so state.
Sections this one refers to
§36-21 Rules for short-term investing of state money
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