THE SENATE	S.B. NO.	2112
TWENTY-FIFTH LEGISLATURE, 2010
STATE OF HAWAII

A BILL FOR AN ACT

authorizing the issuance of general obligation bonds and making an appropriation for the senior residence at iwilei, oahu.

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

     SECTION 1.  The director of finance is authorized to issue general obligation bonds in the sum of $30,000,000 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 2010-2011 to complete the construction of the senior residence at Iwilei, Oahu, tax map key number 1-5-7:002, an affordable mixed-use project consisting of approximately one hundred sixty low-income, elderly rental apartments; a community services building; and on-site parking.

     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, 2012, shall lapse as of that date.

     SECTION 3.  The sum appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this Act.

     SECTION 4.  This Act shall take effect on July 1, 2010.

INTRODUCED BY:

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Report Title:

Senior Residence at Iwilei; General Obligation Bonds; Appropriation

Description:

Authorizes the issuance of general obligation bonds and makes an appropriation to complete construction on the senior residence at Iwilei, Oahu.

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