Bill > SCR166

This concurrent resolution requests the Director of Finance to issue general obligation bonds to finance the Agribusiness Development Corporation's (ADC) purchase of a specific land parcel in the North Kohala district of Hawaii Island. The resolution highlights the strategic importance of this agricultural investment by emphasizing the need to strengthen Hawaii's agricultural sector, reduce reliance on imported goods, preserve cultural heritage, and create local employment opportunities. The specific land parcel, comprising three tax map keys, is located in an area with fertile soils and unique climate conditions that present significant potential for sustainable agricultural development. The Legislature recognizes the ADC as uniquely positioned to manage and develop these agricultural lands, with the goal of supporting small family-owned farms, enhancing food self-sufficiency, and promoting environmental stewardship. By issuing general obligation bonds (a type of government debt instrument), the state aims to provide the financial resources necessary for the ADC to acquire the land and support long-term agricultural resilience in the region.

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https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SCR&billnumber=166&year=2025