§174-10  Eligibility of revenue bonds for
investment.  It shall be legal for the State and any of its political
subdivisions, or any political or public corporation, including the employees'
retirement system of the State, or any instrumentality of the State, or any
insurance company, building and loan association, savings bank, trust company,
or any bank or other financial institution operating under the laws of the
State, or for any personal representative, guardian, trustee, or other
fiduciary, or any educational, charitable, or eleemosynary institution to
invest their funds or moneys in their custody in the revenue bonds issued
hereunder; provided that the foregoing shall not be deemed to obviate or
otherwise affect any statutory or other requirement with respect to the use of
judgment and care in investing any such funds.  No holder of any revenue bonds
issued hereunder, however, shall have the right to compel any exercise of the
taxing power of the State to pay the bonds or interest thereon. [L 1961, c 166,
pt of §3; Supp, §86-9; HRS §174-10; am L 1976, c 200, pt of §1]