2013 Hawaii Revised Statutes
TITLE 15. TRANSPORTATION AND UTILITIES
269. Public Utilities Commission
269-169 Green infrastructure property; non-impairment.
§269-169 Green infrastructure property; non-impairment. (a) In furtherance of section 39-61, the State pledges to and agrees with the bondholders and any financing parties under a financing order that the State will not take or permit any action that impairs the value of green infrastructure property under the financing order, or reduce, alter, or impair the green infrastructure fee that is imposed, charged, collected, or remitted for the benefit of the bondholders and any financing parties, until any principal, interest, and redemption premium in respect of bonds, all financing costs, and all amounts to be paid to a financing party under an ancillary agreement are paid or performed in full or unless adequate provision has been made by law for the protection of bondholders and other financing parties.
(b) In issuing the bonds, the department may include the pledge specified in subsection (a) in the bonds, ancillary agreements, and documentation related to the issuance and marketing of the bonds. [L 2013, c 211, pt of §3]
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