Allows the Hawaii Department of Transportation to issue highway revenue bonds for capital improvement projects.
The bill amends Hawaii law to allow the Department of Transportation to issue highway revenue bonds for highway capital improvement projects. These bonds can be financed by revenue bond funds or general obligation bond funds. The bonds are secured by revenues from highways, highway fuel taxes, vehicle weight taxes, vehicle registration fees, federal funds, and other user taxes or fees. The governor may correct any clerical errors in the Act. The Act takes effect upon approval.
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