HRS §39C-3
How bond issuers must prove their state ceiling allocation
When a bond issuer uses part of the state ceiling, they must create a certificate showing that use and send a copy to the department. The department must keep records of all allocations and the certificates it receives.
The statute, as written — Application of allocation
Any issuer that issues bonds to which an allocation of the state ceiling has been applied, shall evidence and report the application by a certificate, a copy of which shall be sent to the department. The department shall maintain a record of all allocations of the state ceiling made by the department and copies of certificates sent to or retained by the department.
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