HRS §39A-233
Use of project agreement revenues
This section says the state can only spend money from a project agreement on paying off related bonds and covering project costs. It cannot move that money into the state's general fund until those payments are properly handled.
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The statute, as written — ‑233] 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, premium, if any, and interest thereon, for the payment of which the revenues are or have been pledged, charged, or otherwise encumbered, including reserves therefor; and (2) To the extent not paid by the project party to provide for all expenses of administration, operation, 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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