§206-27  Bonds.  The board of land andnatural resources may issue revenue bonds, and also refunding bonds for thepurpose of paying or retiring bonds previously issued, from time to time, insuch amounts as it may deem advisable for the purpose of this chapter.  Theboard may issue such types of bonds as it may determine, including bonds onwhich the principal and interest are payable:

(1)  Exclusively from the income and revenues of thedevelopment project financed with the proceeds of the bonds or with theproceeds together with a grant from the federal government in aid of theproject; or

(2)  Exclusively from the income and revenues ofcertain designated development projects, whether or not they were financed inwhole or in part with the proceeds of such bonds.  Any such bonds may beadditionally secured by a pledge of any revenues of any project or projects.

Neither the members of the board nor any personexecuting the bonds shall be liable personally on the bonds by reason of theissuance thereof. [L 1961, c 6, §25; Supp, §98J-25; HRS §206-27]