§207-4  Contract with lending institution. 
The director of finance may, and as far as practicable shall, contract with
lending institutions for the processing of applications for loans of state
funds and the servicing of these loans.  The servicing shall be performed only
by the lending institution which makes the loan for the principal cost of
construction.  In furtherance of the purposes of this part the contract may
provide for the loan of state funds to be repaid after the funds of the lending
institution are repaid in full and for payment to lending institutions for
servicing the State's portion of the total loan and may include other terms
deemed appropriate by the director of finance. [L 1961, c 194, §5; am L 1963, c
114, §1; Supp, §98L-5; HRS §207-4]