Terms Used In Hawaii Revised Statutes > Chapter 431 > Article 9 > Part I - General Provisions

• Action: means any program or project to be initiated by any agency or applicant. See Hawaii Revised Statutes 343-2
• Agency: means any department, office, board, or commission of the state or county government which is a part of the executive branch of that government. See Hawaii Revised Statutes 343-2
• Applicant: means any person who, pursuant to statute, ordinance, or rule, officially requests approval for a proposed action. See Hawaii Revised Statutes 343-2
• Approval: means a discretionary consent required from an agency prior to actual implementation of an action. See Hawaii Revised Statutes 343-2
• Authority: means the Hawaii community development authority. See Hawaii Revised Statutes 206E-101
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Discretionary consent: means a consent, sanction, or recommendation from an agency for which judgment and free will may be exercised by the issuing agency, as distinguished from a ministerial consent. See Hawaii Revised Statutes 343-2
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• 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.
• Reserved housing: means housing designated for residents in the low- or moderate-income ranges who meet such eligibility requirements as the authority may adopt by rule. See Hawaii Revised Statutes 206E-101
• Reserved housing loan programs: includes all or any part of the loan to lenders program, the purchase of existing loans program, the advance commitments program, and the eligible loan and eligible project loan funding program authorized under this part. See Hawaii Revised Statutes 206E-101
• Revenue bonds: means bonds, notes, or other evidence of indebtedness of the authority issued to finance any of the reserved housing loan programs under this part. See Hawaii Revised Statutes 206E-101
• Trust indenture: means an agreement by and between the authority and the trustee, which sets forth the duties of the trustee with respect to the revenue bonds, the security therefor, and other provisions as deemed necessary or convenient by the authority to secure the revenue bonds. See Hawaii Revised Statutes 206E-101
• Trustee: A person or institution holding and administering property in trust.
• Trustee: means a national or state bank or trust company within or without the State which enters into a trust indenture. See Hawaii Revised Statutes 206E-101