HRS §39-163
Who gets paid first on government debt
This section says that when a government unit borrows money, the order of repayment is set by the contract it approves. It also says the government cannot create a new debt that jumps ahead of an existing one if that would break the old agreement.
countiesstate agencies
The statute, as written — Priority of a security interest
The priority of any security interest created by a governmental unit shall be governed by the contractual terms set forth in the measure or measures, including the terms of any indenture or any other agreement approved by the measure or measures, adopted by the governmental unit. No security interest having priority over an existing security interest may be created in violation of the terms of an existing measure governing outstanding bonds.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.