§36-29  Transfer from harbor special fund. 
Any other law to the contrary notwithstanding, there shall be deducted from
time to time by the director of finance for the purpose of defraying the
prorated estimate of central service expenses of government in relation to the
harbor special fund five per cent of all receipts and deposits in the harbor
special fund after deducting therefrom any amounts pledged, charged, or
encumbered for the payment of bonds or interest thereon during the current
year, from which receipts or deposits no deduction of five per cent has
previously been made.  The deductions shall be transferred to the general fund
of the State and become general realizations of the State.  For the purposes of
this section, the term "any amount pledged, charged, or encumbered for the
payment of bonds or interest thereon during the current year" shall
include:



(1)  Amounts which are so pledged, charged or
encumbered;



(2)  Amounts otherwise required to be applied to the
payment of principal of and interest on revenue bonds or other revenue
obligations;



(3)  Amounts required to be paid into a separate
special fund for the payment of principal of and interest on revenue bonds or
other revenue obligations payable from the second separate special fund; and



(4)  Amounts required by law to be paid from the
harbor special fund into the general fund of the State to reimburse the general
fund for bond requirements for general obligation bonds issued for harbor
purposes.



The second separate special fund maintained by
deposits from the harbor special fund shall not be deemed to be a special fund
within the meaning of section 36-27 or section 36-30.  The director of
transportation shall cooperate with the director of finance in effecting the
transfer. [L 1955, c 247, §3; RL 1955, §132-18; am L Sp 1959 2d, c 1, §§14, 26;
am L 1963, c 114, §1; am L 1967, c 221, §7; HRS §36-29]



 



Cross References



 



  Harbor special fund, see §266-19.