2010 Hawaii Code
DIVISION 1. GOVERNMENT
TITLE 11. AGRICULTURE AND ANIMALS
167. Irrigation Water Development
§167-22.5 Irrigation water development special fund.

[§167-22.5] Irrigation water development special fund. (a) There is established in the state treasury the irrigation water development special fund, into which shall be deposited:

(1) Appropriations by the legislature to the irrigation water development special fund;

(2) All receipts and revenues derived from irrigation projects financed through the issuance of revenue bonds;

(3) All or any portion of the receipts and revenues collected under this chapter, as determined by the board, whether or not receipts or revenues are derived from irrigation projects financed through the issuance of revenue bonds; and

(4) Interest earned or accrued on moneys in the irrigation water development special fund.

(b) Moneys in the irrigation water development special fund shall be used by the board for the following purposes:

(1) Planning, design, improvement, construction, land acquisition, and equipment necessary for the development, operation, or maintenance of an irrigation project;

(2) Payment of debt service on revenue bonds issued by the department for irrigation project purposes, and the establishment of debt service and other revenues deemed necessary by the board;

(3) Reimbursement of the general fund for debt service on general obligation bonds issued to finance irrigation projects where the bonds are designated to be reimbursable out of the irrigation water development special fund; and

(4) Any other purpose deemed necessary by the board for the purpose of planning, designing, improving, constructing, developing, operating, and maintaining irrigation projects. [L 1995, c 139, §1]