HRS §53-30
Rules for issuing income debenture certificates
This section lets a redevelopment agency approve a company's plan to issue income debenture certificates. These certificates can pay interest up to 6% per year. The certificates and related documents may include other terms, like repayment schedules, if the agency approves them.
businessesdevelopers
The statute, as written — Income debentures
With the approval of the redevelopment agency, the articles of association, or amended articles, may authorize the issuance of income debenture certificates bearing no greater interest than six per cent a year. The income debenture certificates and any instrument under which they are issued may contain other provisions, including provisions for amortization by serial maturities, through the operation of a sinking fund or otherwise, which may be approved by the agency.
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