MCC §14.52.060
Withholding bond payments
Read the official text at library.municode.com ↗This section lets the finance director stop paying bondholders if it looks like the county might lose money and bondholders could be hurt. The director must tell the county council so they can decide how to protect everyone fairly.
counties
The ordinance, as written (Maui County) — Withholding payments
A copy, taken August 21, 2026. The version published by Maui County is the one that governs, and it may have changed since. Check it before relying on anything here.
If it appears to the director of finance that there is danger of an ultimate loss
accruing to the bondholders for any reason, he shall withhold payment on all matured
bonds and coupons and report the facts to the council so that proper action may be
taken to equitably protect all bondholders.
(Ord. 801 § 1 (part), 1974: prior code § 25-8.3.1)
Read the official text at library.municode.com ↗as published Nov 21, 2025our copy taken Aug 21, 2026
Published by the County of Maui through Municode.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.