§173-1  Issuance of revenue bonds. Revenue bonds, as provided for by part III of chapter 39, may be issued tofinance in whole or in part the cost of construction of such new land areas andmeans of access thereto, the acquisition, by condemnation, purchase, orotherwise, of littoral or other private rights, if any, which may be affectedby such construction, and of rights-of-way to the shore and such shore lands asmay be necessary to enable such construction, and the costs of maintenance,betterment, and extension of such new land areas and means of access thereto. The revenues derived from the lease of the new land areas shall be pledged forthe punctual payment of the bonds, and interest thereon, and the revenues arehereby charged with the payment of the principal and interest.  Eachreclamation project, including a specific new land area or areas and all of thematters relating thereto enumerated in the first sentence of this section, isdesignated as an "undertaking" within the meaning of part III ofchapter 39.  The department of land and natural resources is charged with theadministration of such undertakings. [L 1957, JR 45, §4; am L Sp 1959 2d, c 1,§21; am L 1961, c 132, §2; Supp, §99D-4; HRS §173-1]

 

Cross References

 

  Reclamation of submerged lands, see §171-53.