PART III. 
[OLD] REVENUE BONDS



 



§§39-51 to 70  REPEALED.  L 1988, c 28,
§2.



 



PART III. 
REVENUE BONDS



 



§39-51  Definitions.  Whenever used in
this part, unless a different meaning clearly appears from the context:



"Bonds" means bonds, notes, and other
instruments of indebtedness.



"Department" means any state
department, board, commission, officer, authority, or agency (other than a
"municipality" defined by section 49-1) which is charged by law with
the administration of an undertaking or loan program.



"Department head" means any officer
having charge of a department for which there is no governing body.



"Governing body" means any board,
commission, agency, authority, public corporation, instrumentality, or other
body consisting of more than one person, having charge of a department.



"Loan program" means the activities
and policies undertaken by any department to provide assistance to any
department or to any county or board, agency, or instrumentality thereof, or to
members of the general public who are residents of the State, by making loans
or causing loans to be made available to them or by buying, refinancing, or
guaranteeing loans made to or other obligations incurred by them for purposes
as may be authorized by law.



"Policy of hurricane property
insurance" means a policy or endorsement of insurance issued by the Hawaii
hurricane relief fund under section 431P-10.



"Revenue" means the moneys collected,
including any moneys collected from the State or any department, or any county
or board, agency, or instrumentality thereof, from the rates, rentals, fees,
and charges prescribed for the use and services of, and the facilities and
commodities furnished by, an undertaking or the use and services and benefits
of a loan program; provided that the term shall include all insurance premium
payments, assessments, surcharges, investment earnings, and all other income of
the Hawaii hurricane relief fund.



"Revenue bonds" means all bonds
payable solely from and secured by the revenue, or user taxes, or any combination
of both, of an undertaking or loan program or any loan made thereunder for
which bonds are issued and as otherwise provided in this part; provided that
the term shall include all bonds issued by the director of finance under the
authority of section 10(a), Act 339, Session Laws of Hawaii 1993, as amended,
for the purposes of the hurricane bond loan fund.



"System" means an organized plan or
arrangement under which one or more undertakings are operated or implemented as
a harmonious whole.



"Undertaking" means any public works
and properties, improvement, or system, tangible or intangible, owned or
operated by the State or a department thereof, and any public activity, policy,
or program undertaken by the State or a department thereof, and from which the
State or department may derive revenues, or with respect to which the State or
department may derive user taxes.



"User taxes" means taxes on goods or
services or on the consumption thereof, the receipts of which are substantially
derived from the consumption, use, or sale of goods and services in the
utilization of the functions or services furnished by the undertaking. [L 1988,
c 28, pt of §3; am L 1991, c 262, §2; am L 1993, c 339, §5; am L 1996, c 307,
§2]



 



Note



 



  Section 49-1 referred to in text is repealed; current section
49-1 defines "county".