[§304A-2259]  University of Hawaii alumni
revolving fund.  There is established the University of Hawaii alumni
revolving fund into which shall be deposited funds and proceeds received by the
university from alumni activities and donations from alumni.  Funds deposited
into this revolving fund may be expended by the university for all costs
associated with conducting alumni affairs, activities, and programs for the
university system, including but not limited to expenses for honoraria, hotel
and room rentals, food and refreshment, printing and mailing, banners and
signs, plaques and awards, airfare and per diem, leis, rental of audiovisual,
musical, and stage equipment, and activity supplies and materials, without
regard to statutory competitive bidding requirements. [L 2006, c 75, pt of §2]