HRS §48E-18
Special purpose revenue bonds as legal investments and lawful security
This section says that special purpose revenue bonds issued under this chapter are legal investments for certain financial groups and for public funds. They can also be used as security for public deposits, with their value and attached coupons counting as sufficient security.
financial institutionsstate agencies
The statute, as written — Special purpose revenue bonds as legal investments and lawful security
The special purpose revenue bonds issued pursuant to this chapter shall be and are hereby declared to be legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, credit unions, fiduciaries, trustees, guardians, and for all public funds of the State or other political corporations or subdivisions of the State. Such special purpose revenue bonds shall be eligible to secure the deposit of any and all public funds of the State and any and all public funds of counties or other political corporations or subdivisions of the State, and such bonds shall be lawful and sufficient security for such deposits to the extent of their value when accompanied by all unmatured coupons appertaining thereto.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.