Authorizes the issuance of general obligation bonds to provide shelter to homeless veterans.

A BILL FOR AN ACT

SECTION 1. The director of finance is authorized to issue general obligation bonds in the sum of $ , or so much thereof as may be necessary, and the same sum, or so much thereof as may be necessary, is appropriated for fiscal year 2006-2007 for the purpose of renovating existing barracks and other structures at Kalaeloa in order to provide shelter to homeless veterans.

SECTION 2. The appropriation made for the capital improvement project authorized by this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2008, shall lapse as of that date.

SECTION 3. The sum appropriated shall be expended by the department of defense for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2006.