PART III. [OLD] REVENUE BONDS

 

§§39-51 to 70  REPEALED.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

 

PART III. REVENUE BONDS

 

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

"Bonds" means bonds, notes, and otherinstruments of indebtedness.

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

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

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

"Loan program" means the activitiesand policies undertaken by any department to provide assistance to anydepartment or to any county or board, agency, or instrumentality thereof, or tomembers of the general public who are residents of the State, by making loansor causing loans to be made available to them or by buying, refinancing, orguaranteeing loans made to or other obligations incurred by them for purposesas may be authorized by law.

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

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

"Revenue bonds" means all bondspayable solely from and secured by the revenue, or user taxes, or any combinationof both, of an undertaking or loan program or any loan made thereunder forwhich bonds are issued and as otherwise provided in this part; provided thatthe term shall include all bonds issued by the director of finance under theauthority 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 orarrangement under which one or more undertakings are operated or implemented asa harmonious whole.

"Undertaking" means any public worksand properties, improvement, or system, tangible or intangible, owned oroperated 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 theState or department may derive revenues, or with respect to which the State ordepartment may derive user taxes.

"User taxes" means taxes on goods orservices or on the consumption thereof, the receipts of which are substantiallyderived from the consumption, use, or sale of goods and services in theutilization 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 section49-1 defines "county".