§10-31 - Office of Hawaiian affairs projects to be self-supporting.
§10-31 Office of Hawaiian affairs projects
to be self-supporting. The board shall impose and collect rates, rents,
fees, and charges for the use or enjoyment and services of the facilities of
each office project, and shall revise such rates, rents, fees, and charges,
whenever necessary, or direct all or any portion of the revenues of the office,
so that in the aggregate, the revenues of the office project and the revenues
of the office shall produce revenue at least sufficient to:
(1) Pay the cost of maintenance of the office project
or projects, including reserves therefor;
(2) Pay when due all bonds and interest thereon, for
the payment of which the revenue is or has been pledged, charged, or otherwise
encumbered, including reserves therefor;
(3) Reimburse the general fund of the State for any
bond requirements on general obligation bonds issued for an office project or
projects to the extent required by law; and
(4) Carry out all covenants and provisions of the
resolution or resolutions authorizing the issuance of revenue bonds.
Neither this section nor any other section of
this part shall preclude the making of appropriations to the board, the
acceptance of gifts by the board, or the use of revenues of the office or other
funds derived from the sale of stocks, bonds, or other assets in the possession
of the board to pay all or part of the costs of construction, of maintenance,
or both, of any or all office projects.
All moneys received pursuant to this section
shall be administered as trust funds, as provided by this chapter, and in
separate accounts designated for each office project. [L 1994, c 283, pt of
§2(2); am L 2009, c 146, §9]