[§304A-2274]  University of Hawaii real
property and facilities use revolving fund.  (a)  There is established the
University of Hawaii real property and facilities use revolving fund into which
shall be deposited all revenues collected by the university for the use of
university real property and facilities, except as otherwise provided by law. 
The board of regents may establish prices, fees, and charges, including those
for the sale, lease, or use of university real property and facilities, which
include land, buildings, grounds, furnishings, and equipment; provided that the
university shall comply with all statutory and common law requirements in the
disposition of ceded lands.  The board of regents shall be exempt from the
public notice and public hearing requirements of chapter 91 in establishing and
amending the fees and charges.  The university may establish separate accounts
within the revolving fund for major program activities.  Funds deposited into
the revolving fund accounts shall be expended to pay the costs of operating
university 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 this
section may be transferred to other university funds to be invested or expended
for the administrative or overhead costs of the university.  All expenditures
from this revolving fund shall be subject to legislative appropriation.



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