HRS §54-22
Selling water system bonds and using the money
The county treasurer must sell bonds when the water board tells them to, following the usual rules for selling bonds. The money from the sales must be kept in a separate fund and used only for the water projects the bonds were meant for.
counties
The statute, as written — Revenue bond sales
The county treasurer shall, when so directed by the board of water supply, sell such bonds as may be authorized for the acquisition, construction, replacement, extension, or completion of the waterworks; provided that the sale shall otherwise be conducted in accordance with the procedure specified by the law for the sale of the bonds. The proceeds from the sales shall be kept by the county treasurer in a separate fund to be used only for the purposes for which the bonds were sold.
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