HCC §33-26
Rules for tax increment bonds and their validity
Read the official text at hawaiicounty.gov ↗This section sets rules for tax increment bonds issued by the county. It says these bonds are treated as investment securities under state law, and that certain statements in the bonds are taken as true in court. It also says bonds are valid even if the officials who signed them left office, and the total bond amount cannot be more than the plan's costs.
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The ordinance, as written (Hawaiʻi County) — General provisions; 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) Notwithstanding any of the provisions of this chapter or any recital in any tax increment bond issued under this chapter, all tax increment bonds shall be deemed to be investment securities under the Uniform Commercial Code, chapter 490, Hawai‘i Revised Statutes, subject only to the provisions pertaining to registration. (b) In any suit, action, or other proceeding involving the validity or enforceability of a bond issued under this chapter or the security for a bond or note issued under this chapter, a bond reciting in substance that it had been issued by the County for the tax increment district shall be conclusively deemed to have been issued for that purpose, and the development or redevelopment of the district conclusively shall be deemed to have been planned, located, and carried out as provided by this chapter. (c) The tax increment bonds bearing the signature or facsimile signature of officers in office on the date of the signing thereof shall be valid and sufficient for all purposes, notwithstanding that before the delivery thereof and payment therefor any or all persons whose signatures appear thereon shall have ceased to be officers of the County. (d) Tax increment bonds shall not be issued in an amount exceeding the total costs of implementing the tax increment financing plan for which they were issued. (1994, ord 94-76, sec 3.)33-26
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.