(a) The revenue bonds shall be payable from and secured by the revenues derived from the benefits of the water pollution control loan program for which the revenue bonds are issued, including:

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Terms Used In Hawaii Revised Statutes 342D-89

  • Department: means the department of health. See Hawaii Revised Statutes 342D-1
  • Director: means the director of health. See Hawaii Revised Statutes 342D-1
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Pollution: means water pollution. See Hawaii Revised Statutes 342D-1
  • Water pollution: means :

    (1) Such contamination or other alteration of the physical, chemical, or biological properties of any state waters, including change in temperature, taste, color, turbidity, or odor of the waters, or
    (2) Such discharge of any liquid, gaseous, solid, radioactive, or other substances into any state waters,

    as will or is likely to create a nuisance or render such waters unreasonably harmful, detrimental, or injurious to public health, safety, or welfare, including harm, detriment, or injury to public water supplies, fish and aquatic life and wildlife, recreational purposes and agricultural and industrial research and scientific uses of such waters or as will or is likely to violate any water quality standards, effluent standards, treatment and pretreatment standards, or standards of performance for new sources adopted by the department. See Hawaii Revised Statutes 342D-1

(1) Any repayment of eligible loans or other agreements entered into for the water pollution control loan programs;
(2) Revenues derived from insurance proceeds; and
(3) Reserve accounts and earnings thereon.
(b) The director may pledge any and all revenues derived from the water pollution control loan program to the punctual payment of the principal, interest, and redemption premiums, if any, on the revenue bonds.
(c) The revenue bonds may be additionally secured by the pledge or assignment of the loans and other agreements or any note, other undertaking, or obligation held by the director or the department to secure the loans.
(d) The director may issue such types of bonds as the director may determine, including bonds on which the principal and interest are payable exclusively from the income and revenues of the water pollution control loan program.