Report Title:

GO Bonds; Flooding; University of Hawaii; Ala Wai Watershed

Description:

Authorizes the issuance of general obligation bonds to plan, design, and construct alternatives to mitigate flooding to facilities at the University of Hawaii at Manoa, sites at Manoa valley, and the entire Ala Wai watershed.  Appropriates funds.

THE SENATE	S.B. NO.	3201
TWENTY-FOURTH LEGISLATURE, 2008
STATE OF HAWAII

A BILL FOR AN ACT

AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS AND MAKING AN APPROPRIATION to the DEPARTMENT OF LAND AND NATURAL RESOURCES.

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

     SECTION 1.  The legislature finds that significant public benefit will be realized through the planning, design, and construction of alternatives to mitigate the flooding to facilities at the University of Hawaii at Manoa, sites at Manoa valley, and the entire Ala Wai watershed.  The legislature further finds that the issuance of general obligation bonds under this Act is in the public interest and for the benefit of public health, safety, and welfare.

     SECTION 2.  The director of finance is authorized to issue general obligation bonds in the sum of $500,000 or so much thereof as may be necessary and the same sum is appropriated for fiscal year 2008-2009 for the planning, design, and construction of alternatives to mitigate flooding to facilities at the University of Hawaii at Manoa, sites at Manoa valley, and the entire Ala Wai watershed.

SECTION 3.  The appropriation made for the capital improvement project authorized in this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all appropriations which are unencumbered as of June 30, 2010, shall lapse as of that date.

SECTION 4.  The sum appropriated shall be expended by the department of land and natural resources for the purposes of this Act.

SECTION 5.  This Act shall take effect on July 1, 2008.

INTRODUCED BY:

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