HRS §54-24
Water board money: deposits, spending, and reserves
This section says how the water board must handle its money. It must deposit daily receipts into a bank, then move them monthly into a county fund. The board may spend that fund only on listed water system costs, including operations, repairs, insurance, and bond payments.
counties
The statute, as written — Operating expenses, reserves, and appropriations
All receipts of the board of water supply other than from the sale of bonds shall be deposited daily in a bank by the board and the sums so deposited shall be accounted for and be paid into the county treasury at the end of each month and maintained in a special fund. The board may make appropriations and allowances from the fund for the following purposes: (1) For the payment of the operating and maintenance expenses of the waterworks; (2) For repairs, replacements, additions, and extensions; (3) For accident reserve, pension charges, and compensation insurance; (4) For payment of interest and sinking funds on all bonds issued for the acquisition or construction of the waterworks and extensions thereto and for the reserve fund.
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