Hawaii Revised Statutes 39C-3 – Application of allocation
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Terms Used In Hawaii Revised Statutes 39C-3
- Department: means the department of budget and finance. See Hawaii Revised Statutes 39C-1
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Issuer: means any state or county department, board, commission, authority or officer, or not-for-profit corporation authorized to issue bonds under the laws of the State. See Hawaii Revised Statutes 39C-1
- State ceiling: means any annual or other limit on the principal amount of bonds that may be issued by issuers, with tax exempt interest, tax credits, interest subsidies or other benefits under the Internal Revenue Code of 1986, as amended, which limit is imposed under or pursuant to the American Recovery and Reinvestment Act, Public Law 111-5, or any subsequent federal legislation. See Hawaii Revised Statutes 39C-1
Any issuer that issues bonds to which an allocation of the state ceiling has been applied, shall evidence and report the application by a certificate, a copy of which shall be sent to the department. The department shall maintain a record of all allocations of the state ceiling made by the department and copies of certificates sent to or retained by the department.