HOUSE OF REPRESENTATIVES	H.B. NO.	2426
TWENTY-NINTH LEGISLATURE, 2018		H.D. 1
STATE OF HAWAII		S.D. 1

A BILL FOR AN ACT

RELATING TO THE AGRIBUSINESS DEVELOPMENT CORPORATION.

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 $6,000,000 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 2018-2019 for the acquisition of high value farm land in west Kauai identified as Tax Map Key: (4) 1-2-006:009.

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, 2020, shall lapse as of that date.

SECTION 3. The sum appropriated shall be expended by the agribusiness development corporation for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2018.

Report Title:

Agribusiness Development Corporation; Land Acquisition; GO Bonds; Appropriation

Description:

Authorizes the director of finance to issue general obligation bonds and appropriates funds for the acquisition of certain farm lands in west Kauai by the agribusiness development corporation. (SD1)

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