Hawaii SB1487 authorizes the University of Hawaii to issue up to $800 million in revenue bonds to fund capital facility projects.
Hawaii SB1487 allows the University of Hawaii to issue revenue bonds for up to $800 million to finance priority capital facility projects, including construction, renovation, modernization, and repairs. The bonds will be issued under Hawaii Revised Statutes, with principal and interest secured by university revenue. The university must notify the legislature upon issuing the bonds, detailing funded projects. The bonds will not lapse until June 30, 2030, even if unexpended funds remain after fiscal year 2025-2026.
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