Report Title:
Affordable Housing; Infrastructure; General Obligation Bonds
Description:
Authorizes the issuance of general obligation bonds to create infrastructure to build affordable housing.
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THE SENATE |
S.B. NO. |
187 |
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TWENTY-FIFTH LEGISLATURE, 2009 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
authorizing the issuance of general obligation bonds and making an appropriation for affordable housing.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the lack of affordable housing in Hawaii is a significant social problem today. High home prices and rents have put homes out of reach for many Hawaii residents and contributed to the homeless problem in our State. In addition, the current economic climate has created problems for homeowners and renters to keep up with their mortgages and rent, respectively.
The legislature finds and declares that the issuance of general obligation bonds to create infrastructure for affordable housing is in the public interest and general welfare of the State.
SECTION 2. 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 2009-2010 for infrastructure to build affordable housing.
SECTION 3. The sum appropriated shall be expended by the department of accounting and general services for the purposes of this Act.
SECTION 4. This Act shall take effect on July 1, 2009.
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INTRODUCED BY: |
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