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



The governor may make advances from loan funds,
derived from the issuance of general obligation bonds, for public improvements
authorized by section 173-1, and the advances shall be repaid from the proceeds
of the revenue bonds when issued, before any other advances are reimbursed
therefrom. When reimbursed the loan funds shall be available for expenditure
for the public improvements the financing of which by the issuance of general
obligation bonds theretofore was authorized. [L 1957, JR 45, §5; am L Sp 1959
2d, 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".