§103-6  Temporary use of funds.  The
state and county directors of finance may, with the consent of the governor, in
the case of state funds, and of the council, in the case of county funds, use
any portion of moneys belonging to any funds under their control, except
pension or retirement funds, funds set aside for the redemption of bonds or the
payment of interest thereon, and private trust funds, for the purpose of paying
warrants drawn against any fund temporarily depleted.  All sums so used shall
be repaid to the credit of the fund from which taken immediately after the
replenishment of such depleted fund.



Whenever there are moneys in any fund of any
county, except pension or retirement funds, funds under the control of any
independent board or commission, funds set aside for redemption of bonds or the
payment of interest thereon, and private trust funds, which in the judgment of
the director of the county are in excess of the amounts necessary for the
immediate requirements of the respective funds, and where in the county
director's judgment such action will not impede the necessary or desirable
financial operations of the county, the county director may, with the consent
of the council, make temporary transfers or loans therefrom, without interest, to
other funds of the county for undertaking public improvements for which the
issuance and sale of the general obligation bonds have been duly authorized by
the legislature and by the council in accordance with chapter 47.  Such
transfers shall be made only after passage by the council of an ordinance or
resolution authorizing the public improvements.  Amounts transferred under this
paragraph shall not, in any county, exceed the total sum of unissued authorized
bonds of the county.  The funds from which the transfers or loans are made
shall be reimbursed by the county director from the proceeds of the bond sales
upon the eventual issuance and sale of the bonds, or by appropriations of the
council. [L 1931, c 33, §1; am L 1933, c 74, §1; RL 1935, §113; RL 1945, §370;
am L 1953, c 176, §1; RL 1955, §9-5; am L Sp 1959 2d, c 1, §14; am L 1963, c
114, §1; HRS §103-6; gen ch 1993]



 



Revision Note



 



  References to county treasurers and boards of supervisors
deleted to conform to county charters.



 



Attorney General Opinions



 



  General obligation bond funds may be used to temporarily
augment the general fund.  Att. Gen. Op. 72-11.