D.  Revolving Funds



 



§304A-2251  University of Hawaii
commercial enterprises revolving fund.  [Repeal and reenactment on June
30, 2011.  L 2009, c 11, §13.]  There is established the University of
Hawaii commercial enterprises revolving fund into which shall be deposited all
revenues derived from the operation of commercial enterprises by university
programs.  Revenues deposited into this fund may be expended by the university
for all costs and expenses associated with the operation of the enterprises, including
hiring personnel, renovating commercial space, and purchasing merchandise,
supplies, and equipment, without regard to chapters 76, 78, 89, 103, and 103D. 
Any law to the contrary notwithstanding, the university may transfer all funds
at its disposal, with the exception of general funds and University of Hawaii
tuition and fees special fund moneys, into the revolving fund to finance the
establishment of new commercial enterprises; except that no more than ten per
cent of the tuition and fees special fund moneys may be loaned to the revolving
fund to finance the establishment of new commercial enterprises.  Revenues not
expended as provided in this section may be transferred to other university
funds to be expended for the general benefit of the university. [L 2006, c 75,
pt of §2; am L 2008, c 106, §§1, 3]