§53-28  Consideration for issuance of stocks
and bonds.  No redevelopment corporation shall issue stock, bonds, or
income debenture certificates except for money or property actually received
for the use and lawful purposes of the redevelopment corporation.  No stock,
bonds, or income debenture certificates shall be issued for property except
upon a valuation approved by the redevelopment agency and the valuation shall
be used in computing actual or estimated cost. [L 1949, c 379, §11; RL 1955,
§143-27; HRS §53-28]