[§304A-2274]  University of Hawaii realproperty and facilities use revolving fund.  (a)  There is established theUniversity of Hawaii real property and facilities use revolving fund into whichshall be deposited all revenues collected by the university for the use ofuniversity real property and facilities, except as otherwise provided by law. The board of regents may establish prices, fees, and charges, including thosefor the sale, lease, or use of university real property and facilities, whichinclude land, buildings, grounds, furnishings, and equipment; provided that theuniversity shall comply with all statutory and common law requirements in thedisposition of ceded lands.  The board of regents shall be exempt from thepublic notice and public hearing requirements of chapter 91 in establishing andamending the fees and charges.  The university may establish separate accountswithin the revolving fund for major program activities.  Funds deposited intothe revolving fund accounts shall be expended to pay the costs of operatinguniversity facilities, including maintenance, administrative expenses,salaries, wages, and benefits of employees, contractor services, supplies,security, furnishings, equipment, janitorial services, insurance, utilities,and other operational expenses.  Revenues not expended as provided in thissection may be transferred to other university funds to be invested or expendedfor the administrative or overhead costs of the university.  All expendituresfrom this revolving fund shall be subject to legislative appropriation.

(b)  As used in this section,"maintenance" includes repairs, replacement, renewals, operation, andadministration. [L 2006, c 75, pt of §2]