HCC §33-23
Reserve fund for tax increment bonds
Read the official text at hawaiicounty.gov ↗The county council can set up a reserve fund to back tax increment bonds. The fund can start with bond sale money, and it is used to pay bond principal or interest, especially on the last maturities, as allowed by law.
counties
The ordinance, as written (Hawaiʻi County) — Reserve fund
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.
The council may provide in the ordinance adopted pursuant to section 33-19 for a reserve fund as additional security for the payment of principal and interest on tax increment bonds issued in proceedings taken pursuant to this chapter. The reserve fund may be initially funded from the proceeds from the sale of tax increment bonds with respect to which such reserve fund is established in such amount as is designated by the council in the ordinance authorizing such bonds. Moneys in a reserve fund shall be used in accordance with the provisions of section 33-22(c) and to pay the principal or interest, or both, in whole or in part, on the last outstanding maturity or maturities of the bonds. (1994, ord 94-76, sec 3.)33-23
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.