REPORT TITLE:
UH Endowment; Bonds


DESCRIPTION:
Authorizes the issuance of one billion dollars for the general
endowment of the UH through its Foundation.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
HOUSE OF REPRESENTATIVES                H.B. NO.429        
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS AND MAKING
   AN APPROPRIATION FOR THE ENDOWMENT OF THE UNIVERSITY OF
   HAWAII.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The director of finance is authorized to issue
 
 2 general obligation bonds in the sum of $1,000,000,000, or so much
 
 3 thereof as may be necessary, and the same sum, or so much thereof
 
 4 as may be necessary, is appropriated for fiscal years 1999-2000,
 
 5 and 2000-2001, for the general endowment of the University of
 
 6 Hawaii, through its Foundation; provided that funds above the sum
 
 7 of $500,000,000 shall be made available under this Act only to
 
 8 match sums that the University of Hawaii Foundation shall raise
 
 9 from other sources during the period of this Act.
 
10      SECTION 2.  The sum appropriated shall be expended by the
 
11 University of Hawaii for the purposes of this Act.
 
12      SECTION 3.  This Act shall take effect on July 1, 1999.
 
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14                           INTRODUCED BY:  _______________________