HRS §54-21
Water board may save for big projects
The water board can set aside money each year to pay for major repairs or new projects. The amount saved each year, averaged over ten years, cannot be more than 15% of the board's yearly income. This rule limits how much can be saved.
state agencies
The statute, as written — Reserve fund
The board of water supply may provide for the accumulation of a fund for the purpose of financing major replacements, or extensions and additions, the average estimated annual increment to which, for a period of ten years, shall not exceed fifteen per cent of the gross revenue of the board in any fiscal year.
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