HRS §39A-123
How project revenues may be used
This section says the state department can use money from a project agreement only to pay bond debts and project costs. It cannot move that money to the state's general fund until those payments are covered.
state agencies
The statute, as written — ‑123 Use of revenues derived from project agreement
The department shall have the right to appropriate, apply, or expend the revenues derived with respect to the project agreement for a project for the following purposes: (1) To pay when due all special purpose revenue bonds, premiums if any, and interest thereon, for the payment of which the revenues are or have been pledged, charged, or otherwise encumbered, including reserves therefore; and (2) To the extent not paid by the project party to provide for all expenses of administration, operations, and maintenance of the project, including reserves therefor. Unless and until adequate provision has been made for the foregoing purposes, the department shall not transfer the revenues derived from the project agreement to the general fund of the State.
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