Bill > SB1487

This bill authorizes the Board of Regents of the University of Hawaii to issue revenue bonds to finance capital improvement projects, with the governor's approval. The bill allows the university to fund construction, maintenance, and modernization of various facilities including faculty and student housing, classrooms, laboratories, offices, research facilities, utilities, libraries, student support facilities, and athletic facilities. The revenue bonds will be issued under part VI of chapter 304A of Hawaii Revised Statutes, with principal and interest payments coming solely from university revenue. While the specific total bond amount is not specified in the bill (indicated by a blank space), the legislation includes provisions that prevent the refunding of existing bonds from decreasing the overall authorization. The bill requires the University of Hawaii to notify the legislature upon bond issuance and provide a detailed list of projects to be funded. An appropriation is included to support these efforts, with funds available through fiscal year 2025-2026 and any unexpended balance allowed to carry over until June 30, 2030. The bill is set to take effect on July 1, 3000 (which appears to be a placeholder date).

Budget and Finance, Education

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1487&year=2026