HRS §53-17
Agency bonds can be used like other public bonds
This section says that bonds issued by a redevelopment agency for redevelopment plans or projects are legal investments and can be used as security for public deposits. They are treated the same as bonds from the Hawaii housing finance and development corporation for housing projects.
financial institutions
The statute, as written — Bonds of agency to be legal investments
Bonds issued by a redevelopment agency in connection with one or more redevelopment plans or redevelopment projects pursuant to this part shall be legal investments and security for public deposits to the same extent and for the same public officers and bodies, political subdivisions, persons, companies, corporations, associations, banks, institutions, and fiduciaries as bonds or obligations issued by the Hawaii housing finance and development corporation under chapter 201H in connection with slum clearance and housing projects.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.