Authorizes the issuance of general obligation bonds and appropriates funds to repair the damage caused to Manoa Stream, the University of Hawaii and the Ala Wai watershed by the heavy rain and flooding of October 2004.

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 2005-2006, and 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, to repair the damage caused by the recent heavy rain and flood of October 2004 to:

SECTION 2. The specific amounts appropriated shall be as follows:

SECTION 3. 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 4. The sums appropriated shall be expended by the department of land and natural resources or the university of Hawaii as provided in section 2 for the purposes of this Act.

SECTION 5. This Act shall take effect on July 1, 2005.