§206M-83 Conditions for procuring of insurance, loan guarantees, or letters of credit. (a) Insurance, guarantees, or letters of credit shall not be procured pursuant to section 206M-81 unless the development corporation is assured that the loans, debentures, or leases insured, or guaranteed, or for which letters of credit are issued, shall be used to assist economic development projects that also have significant private sector financial support.
(b) Insurance, guarantees, or letters of credit may be procured on such terms and conditions as the development corporation, in its sole discretion, shall determine to be reasonable, appropriate, and consistent with the purposes and objectives of this part.
(c) The development corporation shall charge the lender or the borrower, or both, a fee or premium for procuring loan, debenture, or lease insurance, guarantee, or a letter of credit. Rules for premiums or fees shall be established by the corporation. [L 2019, c 56, pt of §2]
Structure Hawaii Revised Statutes
Title 13. Planning and Economic Development
206M. High Technology Development Corporation
206M-2 Establishment of the Hawaii technology development corporation; purpose.
206M-2.5 Meetings of the board.
206M-3.4 Contracts for services necessary for management and operation of corporation.
206M-4 Compliance with state and local law.
206M-7 Conditions precedent to negotiating and entering into a project agreement.
206M-9 Issuance of special purpose revenue bonds; bond anticipation notes; refunding bonds.
206M-10 Authorization for loans; loan terms and conditions; loan procedure.
206M-11 Special purpose revenue bonds not a general or moral obligation of State.
206M-12 Special purpose revenue bonds exempt from taxation.
206M-12.5 Federal tax-exempt status.
206M-13 Special purpose revenue bonds as legal investments and lawful security.
206M-14 Status of special purpose revenue bonds under the Uniform Commercial Code.
206M-15 Technology research and development loans and grants.
206M-15.1 Manufacturing development program; established.
206M-15.2 Research and development program established.
206M-15.5 Technology special fund.
206M-16 Exemption of development corporation from taxation and competitive bidding.
206M-17 Revenue bond fund accounts.
206M-18 Assistance by state and county agencies.
206M-19 Court proceedings; preferences.
206M-20 Construction of this chapter.
206M-21 Confidentiality of trade secrets or the like; disclosure of financial information.
206M-22 Limitation on liability.
206M-23 Hydrogen implementation coordinator.
206M-24 Sustainable aviation fuel program; established.
206M-43 Findings and determinations for special facility leases.
206M-44 Special facility lease.
206M-45 Special facility revenue bonds.
206M-61 Strategic development programs; purpose; powers.
206M-62 Strategic development programs revolving fund.
206M-63 Hydrogen investment special fund.
206M-65 Actions of the development corporation; guidelines.
206M-67 Confidentiality of trade secrets or the like; disclosure of financial information.
206M-68 Requests for assistance from the development corporation; procedure.
206M-69 Private sector financial support.
206M-70 Limitations on debt owed to the development corporation.
206M-71 Limitation on liability.
206M-72 HI growth initiative; report to legislature.
206M-75 Seed capital investments.
206M-76 Purposes and terms of investments.
206M-78 Venture capital investments.
206M-79 Purposes and terms of investments.
206M-83 Conditions for procuring of insurance, loan guarantees, or letters of credit.
206M-84 Program for capital access participation agreements.
206M-85 Establishment of special funds to secure loan insurance obligations; source of funds.