Hawaii Revised Statutes
39. State Bonds
39-63 Lien and charge of revenue bonds.

§39-63 Lien and charge of revenue bonds. Unless otherwise provided in the resolution or certificate, all revenue bonds of the same issue shall, subject to the prior and superior rights of outstanding revenue bonds, claims, or obligations, have a prior and paramount lien and charge on the revenue, or the user taxes, or combination of both, of the undertaking or loan program for which the revenue bonds have been issued, pledged to the payment thereof, over and ahead of all bonds of any issue payable from the revenue, or user taxes, or combination of both, which may be subsequently issued and over and ahead of any claims or obligations of any nature against the revenue, or user taxes, or combination of both, subsequently arising or subsequently incurred. All revenue bonds of the same issue shall be equally and ratably secured without priority by reason of number, date of bonds, of sale, of execution, or of delivery, by a lien and charge on the revenue or user taxes, or combination of both, pledged to the payment thereof, in accordance with this part and the resolution or certificate authorizing the issuance of revenue bonds. [L 1988, c 28, pt of §3]

Structure Hawaii Revised Statutes

Hawaii Revised Statutes

Title 5. State Financial Administration

39. State Bonds

39-1 to 15 REPEALED. §39-1 Authorization to issue; amount.

39-2 Application of proceeds.

39-3 Allotments; appropriations.

39-4 Details of bonds.

39-5 Sale of bonds.

39-6 Premiums to general fund.

39-7 Form and execution of bonds.

39-8 Same, signatures.

39-9 CUSIP numbers.

39-10 Support facility for variable rate bonds.

39-11 Bonds tax exempt; first charge on general fund.

39-12 Payment, principal and interest.

39-13 Fiscal and paying agents and registrars.

39-14 Federal tax exempt status; preference; protection.

39-15 Bond anticipation notes.

39-16 Refunding bonds authorized.

39-17 Validation of proceedings.

39-18 Bonds negotiable, incontestable.

39-19 Aviation fuel tax, pledge.

39-31 to 34 REPEALED. §39-31 Duplicates.

39-32 Payment to be made.

39-33 Method of issuance and payment.

39-34 Disputed ownership.

39-51 to 70 REPEALED. §39-51 Definitions.

39-52 Declaration of policy.

39-53 Additional powers of departments.

39-54 Authorization of revenue bonds; details of revenue bonds.

39-55 Sale of revenue bonds.

39-56 Form and execution of revenue bonds.

39-57 Same, signatures.

39-58 CUSIP numbers.

39-59 Support facility for variable rate revenue bonds.

39-60 Covenants in resolution or certificate authorizing issuance of revenue bonds.

39-61 Rates, rentals, fees, and charges; undertakings and loan programs to be self-sustaining.

39-62 Use of revenue and user taxes by any undertaking, loan program, or the Hawaii hurricane relief fund.

39-63 Lien and charge of revenue bonds.

39-64 Revenue bonds not a general or moral obligation of State.

39-65 Undertaking, loan program, and revenue bonds exempt from taxation.

39-66 Federal tax-exempt status; preference; protection.

39-67 Revenue bonds legal investments.

39-68 Duties of the director.

39-69 Investment of reserves, etc.

39-70 Bond anticipation notes.

39-71 Refunding revenue obligations.

39-72 Transfers to department.

39-73 Consent of governmental agencies.

39-74 General laws applicable.

39-75 Construction.

39-76 Validation of proceedings.

39-91 to 99 REPEALED. §39-91 Definitions.

39-92 State debt limit statement.

39-93 Statement of total outstanding indebtedness of the State and the exclusions permitted therefrom.

39-94 Arrangement of statements and schedules and forms; incorporation.

39-125 to 131 REPEALED. §39-101 Renumbered §39A-1.

39-111 Legislative determination.

39-112 Legislative certification as to bonds issued for assessable improvements.

39-151 REPEALED. §39-151 Compound interest bond reserve fund.

39-161 Definitions.

39-162 Perfection of a security interest.

39-163 Priority of a security interest.

39-164 Enforcement of a security interest.