Report Title:
Irrigation Systems; Separate Accounts
Description:
Establishes an irrigation system special account in the irrigation system revolving fund for each separate irrigation and water utilization system.
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THE SENATE |
S.B. NO. |
2488 |
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TWENTY-FOURTH LEGISLATURE, 2008 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO water SYSTEMS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 168-3, Hawaii Revised Statutes, is amended to read as follows:
"[[]§168-3[]]
Funds. The board of agriculture shall pay all receipts and revenues
received by it from the operation of [an]
each irrigation and water utilization system into the respective
special account for that irrigation and water utilization system in the
irrigation system revolving fund established under section 167-22. The fund
shall be used and expended for the following purposes:
(1) Payment of the operating and maintenance costs of the system; provided that payment is made only from the special account created for that system in the fund;
(2) Repairs, replacements, additions, and extensions;
(3) Reimbursement to the State the amount of any principal or interest due upon any bond issue under this chapter."
SECTION 2. Section 168-5, Hawaii Revised Statutes, is amended as follows:
1. By amending subsection (a) to read:
" (a) There shall be [a special account] special accounts
in the irrigation system revolving fund of the board of agriculture to be known
as the "irrigation systems [account".]
accounts". There shall be one special account in the revolving fund for
each irrigation and water utilization system. The director of finance may
make temporary use of any portion or all of the money not immediately needed
for construction and operation of an irrigation system for the purpose of
paying warrants drawn on the treasury for current indebtedness of the State, or
for deposit in the state sinking fund for the repayment of bonds, or for
investment in state bonds; provided that sufficient of the sums so taken,
deposited or invested shall be redeposited to the credit of the irrigation
systems account prior to the time when any engagement for the payment from the
account falls due.
The moneys from [the] each account shall be expended upon warrants drawn
by the comptroller for the purposes of this chapter."
2. By amending subsection (f) to read:
"(f) Any other provision of law to the
contrary notwithstanding, the board may use moneys from the irrigation [[]systems[]]
[account] accounts to
contract for operation or maintenance of the project facilities if the board
deems such action to be in the public interests."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2008.
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INTRODUCED BY: |
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