HRS §39-12
Paying the principal and interest on state bonds
This section says the state finance director must pay bond principal and interest when they come due, and must set up enough money at any other payment location. The state general fund is set aside for these payments, and this payment has top priority.
state agencies
The statute, as written — Payment, principal and interest
When bonds issued pursuant to this part and the several interest amounts mature, the director of finance shall pay the same. If the bonds or interest are made payable elsewhere than at the office of the director of finance, the director of finance shall make arrangements to provide sufficient funds at the designated place or places of payment to meet and pay all obligations at maturity in accordance with the terms thereof. There is hereby appropriated out of the general fund of the State all amounts necessary for the payment from time to time of the principal of the bonds and the several interest amounts as they mature, and this appropriation shall be a paramount appropriation upon the general fund of the State.
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