§103-6  Temporary use of funds.  Thestate and county directors of finance may, with the consent of the governor, inthe case of state funds, and of the council, in the case of county funds, useany portion of moneys belonging to any funds under their control, exceptpension or retirement funds, funds set aside for the redemption of bonds or thepayment of interest thereon, and private trust funds, for the purpose of payingwarrants drawn against any fund temporarily depleted.  All sums so used shallbe repaid to the credit of the fund from which taken immediately after thereplenishment of such depleted fund.

Whenever there are moneys in any fund of anycounty, except pension or retirement funds, funds under the control of anyindependent board or commission, funds set aside for redemption of bonds or thepayment of interest thereon, and private trust funds, which in the judgment ofthe director of the county are in excess of the amounts necessary for theimmediate requirements of the respective funds, and where in the countydirector's judgment such action will not impede the necessary or desirablefinancial operations of the county, the county director may, with the consentof the council, make temporary transfers or loans therefrom, without interest, toother funds of the county for undertaking public improvements for which theissuance and sale of the general obligation bonds have been duly authorized bythe legislature and by the council in accordance with chapter 47.  Suchtransfers shall be made only after passage by the council of an ordinance orresolution authorizing the public improvements.  Amounts transferred under thisparagraph shall not, in any county, exceed the total sum of unissued authorizedbonds of the county.  The funds from which the transfers or loans are madeshall be reimbursed by the county director from the proceeds of the bond salesupon the eventual issuance and sale of the bonds, or by appropriations of thecouncil. [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, c114, §1; HRS §103-6; gen ch 1993]

 

Revision Note

 

  References to county treasurers and boards of supervisorsdeleted to conform to county charters.

 

Attorney General Opinions

 

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