HRS §53-27
Limits on profits paid to project investors
This section sets a yearly limit on the interest and dividends a redevelopment corporation can pay to its investors from project earnings. If a year's payment falls short, the missing amount must be paid from later earnings. Any extra cash left when the corporation ends goes to the county's redevelopment fund.
countiesdevelopers
The statute, as written — Limited return on investment
Subject to section 53-36, there shall be paid annually out of the earnings of the redevelopment corporation, after providing for all expenses, taxes, assessments, and depreciation in improvements, or, in the case of a lease, for amortization, a sum for interest and dividends not exceeding eight per cent of the total actual final cost of the project as defined by [paragraph] (2) of section 53-32. The obligation in respect of the payments shall be cumulative, and any deficiency in interest and dividends in any year shall be paid from the first available earnings in subsequent years; and any cash surplus derived from earnings remaining in the treasury of the redevelopment corporation in excess of the amount necessary to provide the cumulative annual sums shall, upon dissolution of the corporation, be paid into the redevelopment fund of the county in which the project lies.
Sections this one refers to
§53-36 Rules for Ending a Redevelopment Corporation
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