[D.] University Projects and Purposes

 

[§304A-2671]  Definitions andinterpretations.  Whenever used in this subpart:

"Appropriation" means moneysappropriated or allocated by the legislature to the board, the university, anyuniversity project, any university system, any network, or any combinationthereof, from any revolving or special fund that consists of rates, rentals,and charges, or user taxes, which is permitted to be expended for the cost ofconstruction, cost of maintenance, debt service on revenue bonds, or anycombination thereof.

"Board" or "board ofregents" means the board of regents of the University of Hawaii, which is hereby declared to be a public corporation.

"Construction" or"construct" includes acquisition, purchase, planning, construction,reconstruction, remodeling, renovation, improvement, betterment, and extension.

"Cost of construction" includes allcosts and estimated costs related to construction, including but not limitedto:

(1)  All costs and estimated costs of the preparationand issuance of revenue bonds and the obtaining of a loan;

(2)  Costs of land acquisition;

(3)  All costs and estimated costs related toconstruction of a university project, university system, network, or anycombination thereof, including engineering, architectural, supervisory,inspection, fiscal, administrative, travel, and clerical fees, costs, andexpenses;

(4)  Interest estimated to accrue during theconstruction period and for six months thereafter on money obtained by loan orthrough the issuance of revenue bonds;

(5)  Moneys necessary to establish or increasereserves;

(6)  Costs of utilities, equipment, fixtures, andapparatus necessary or convenient for the use and occupancy of the universityproject, university system, or network or any combination thereof; and

(7)  The initial furnishings of the universityproject, university system, or network, or any combination thereof in thedetermination of the board.

"Cost of maintenance" includes allcosts or estimated costs of the maintenance of a university project, universitysystem, or network or any combination thereof; including but not limited tosalaries, wages, and fees of officers, employees, and contractors of the boardengaged in the maintenance of a university project, university system, ornetwork or any combination thereof, the cost of all supplies and equipment, andall operational and administrative expenses.

"CUSIP" means the numbering systemadopted by the Committee for Uniform Security Identification Procedures formedby the Securities Industry Association.

"Maintenance" or "maintain"includes repairs, upkeep, replacement, renewals, maintenance, operation, andadministration.

"Network" means two or moreuniversity projects, university systems, or university projects and universitysystems that, at the election of the board, are combined into a singlenetwork.  A network may include various university projects in any one or moreof the areas under the jurisdiction of the board.

"Reserves" means reserves required orpermitted in the covenants in the resolution or resolutions of the boardauthorizing the obtaining of loans or issuance of revenue bonds under thissubpart.

"Revenue bonds" means revenue bonds,interim certificates, commercial paper, notes, debentures, or other evidence ofindebtedness of the board authorized by or issued under this subpart.

"Revenue of the university" means allincome, receipts, revenue, and moneys of whatever nature received by theuniversity, or that it is entitled to receive, from its ownership or operationand management of the university, including any appropriation, other thangeneral appropriations or gifts the terms of which preclude their being usedfor payment of the cost of construction or cost of maintenance of a universityproject, a university system, or a network or any combination thereof.

"University" means the University of Hawaii, every community college established and governed by the board underthis chapter, and any and every other educational institution under thejurisdiction of the board.

"University project" means anyundertaking or improvement that is constructed or maintained by the universityin furtherance of a university purpose.  A university project includes, but isnot limited to, land, fixtures, appurtenances, improvements, utilities,equipment, and furnishings necessary or convenient for the use and occupancy ofa university project for the purposes for which it was constructed or is used.

"University system" means two or moreuniversity projects from which the university generates revenue of theuniversity, other than appropriations, operated and maintained jointly as asystem. [L 2007, c 161, pt of §1]