§173-2  Advances and transfers.  For thepurpose of paying the cost of the issuance of bonds authorized by this[chapter] and other preliminary expenses, including but not limited to expensesfor engineering and surveys, plans and designs, and appraisals and the costs ofservices of other departments and agencies, the department of land and naturalresources may make advances of such sums as may be necessary from, and as arenot then otherwise required for use in, the special land and development fund,which fund shall be reimbursed for the advances upon the issuance of therevenue bonds issued to finance the reclamation project in connection withwhich such costs and expenses are incurred.  The state director of finance mayalso make temporary transfers to the department for such purposes in conformitywith the provisions of section 39-72.

The governor may make advances from loan funds,derived from the issuance of general obligation bonds, for public improvementsauthorized by section 173-1, and the advances shall be repaid from the proceedsof the revenue bonds when issued, before any other advances are reimbursedtherefrom. When reimbursed the loan funds shall be available for expenditurefor the public improvements the financing of which by the issuance of generalobligation bonds theretofore was authorized. [L 1957, JR 45, §5; am L Sp 19592d, c 1, §§14, 21; am L 1961, c 132, §2; am L 1962, c 32, §7; am L 1963, c 114,§1; Supp, §99D-5; HRS §173-2]

 

Revision Note

 

  Section "39-72" substituted for "39-67".