HRS §37C-2
State debt management policy requirements
This section says the state's recommended debt management policy must follow the constitution and laws, but it can be stricter. It must cover certain topics like why debt is issued, types of debt, limits, and how it's sold. The finance director can add other topics as needed.
state agencies
The statute, as written — Recommended debt management policy; parameters
The recommended state debt management policy shall be consistent with, but may be more restrictive than, state constitutional provisions and statutes. The recommended state debt management policy shall address the following issues, as well as any others deemed necessary by the director of finance: (1) Purposes for which debt may be issued; (2) Types of debt that may be issued; (3) Limitations on indebtedness; (4) Debt maturity schedule or other structural features; (5) Method of sale; (6) Method of procuring consultants and professionals; (7) Refunding policies; and (8) Disclosure practices.
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