Within ninety days after the first day of each fiscal year, the director of finance of each county shall ascertain and set forth in a tabular summary the total indebtedness of the county outstanding and unpaid as of the first day of such fiscal year. The summary shall include the following:

(1) An itemization of the total principal amount of all general obligation bonds, reimbursable general obligation bonds, revenue bonds, special assessment bonds, special purpose revenue bonds, and all other bonds of the county outstanding and unpaid, including bonds which may be excluded under clauses 1, 2, 3, 4, 5, 6, 8, and 9 of section 13 of article VII of the constitution when determining the funded debt of the county for the purposes of that section together with a grand total of such total principal amounts.
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Terms Used In Hawaii Revised Statutes 47C-2

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • 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.
(2) The total principal amount of all bonds of the State required by clause (7) of section 13 of article VII of the constitution to be included when determining the funded debt of the county for the purposes of that section.
(3) A grand total of the total principal amounts set forth in the summary pursuant to paragraphs (1) and (2).
(4) An itemization of the total of the principal amount of all general obligation bonds, reimbursable general obligation bonds, revenue bonds, special assessment bonds, and special purpose revenue bonds of the county outstanding and unpaid which may be excluded under clauses 1, 2, 3, 4, 5, 6, 8, and 9 of section 13 of article VII of the constitution when determining the total funded debt of the county for the purposes of that section, together with a grand total of such total principal amounts.
(5) The difference between the grand total principal amount set forth in the summary pursuant to paragraph (3) and the grand total principal amount set forth in the summary pursuant to paragraph (4).

The director of finance shall also prepare and attach to the tabular summary such supporting schedules as may be required to set forth in detail the bonds included in the itemizations required by paragraphs (1) and (4). Such supporting schedules shall also set forth or make reference to the relevant statutory, charter, ordinance, or other legal provision, and the relevant figures of assessment collections, revenues, user tax receipts, cost of operation, maintenance and repair, net revenues, net user tax receipts, reimbursements to the general fund, and other financial information, justifying the inclusion of such bonds in the itemization required by paragraph (4). The director of finance shall indicate in the supporting schedules whether the financial findings and figures are based upon the records of the director’s office or upon audited statements and reports, and if based upon the latter, shall identify in the schedules the audited reports and statements.

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