HCC §12-62
Rules for issuing refunding bonds for improvement districts
Read the official text at hawaiicounty.gov ↗This section explains how the county can issue new bonds to pay off old improvement district debt. The new bonds must follow the same rules as other improvement bonds, but can have a lower interest rate and last up to fifteen years after the old bonds mature.
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The ordinance, as written (Hawaiʻi County) — Refunding bonds
A copy, taken August 21, 2026. The version published by Hawaiʻi County is the one that governs, and it may have changed since. Check it before relying on anything here.
(a) Improvement bonds issued for the refunding of the outstanding indebtedness of any improvement district shall bear the name of the improvement district for which they are issued, and shall be issued and sold under all the conditions and terms as prescribed by article 4 of this chapter, except as otherwise prescribed in this chapter. (b) A lower rate of interest than that authorized in the original issue of improvement bonds may be prescribed and the refunding bonds may be authorized to run for a term not to exceed fifteen years from the final maturity date of the outstanding bonds.
Published by the County of Hawaiʻi Office of the County Clerk.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.