§39-8 Same, signatures. When bonds of the State are prepared and signed by the director of finance or a deputy director of finance of the State and the comptroller of the State in office at the time of such signing, the signatures of the director of finance or deputy director of finance and comptroller shall be valid and sufficient for all purposes, and shall have the same effect as if the persons officially signing the bonds or whose facsimile signatures appear thereon had remained in office until the delivery of the same to the initial purchasers thereof, and in the case of fully registered bonds upon any exchange or transfer between subsequent holders thereof, notwithstanding that the term of office of those persons or any of them may have expired or they may otherwise have ceased to be officers before the delivery, exchange, or transfer. If the director of finance shall have designated a registrar for fully registered bonds, the director of finance may provide that no fully registered bond shall be valid or obligatory for any purpose unless certified or authenticated by the registrar. If the director of finance shall have provided for a registrar, then notwithstanding section 39-7, all signatures of the officers of the State upon the fully registered bonds may be facsimiles of the officers' signatures, and fully registered bonds shall be valid and sufficient only if certified or authenticated by the manual signature of an authorized officer or signatory of that registrar. Anything to the contrary notwithstanding, if blanks of fully registered bonds shall be held by a registrar pending exchange or transfer for other fully registered bonds of the same series, then upon delivery of bonds in an exchange or transfer, the bonds shall be valid and sufficient for all purposes notwithstanding that the signature of the comptroller and the director of finance or deputy director of finance appearing thereon shall be that of the person in office at the time of initial delivery of the bonds or that of the person in office at the time of such exchange or transfer. [L 1988, c 28, pt of §3]
Structure Hawaii Revised Statutes
Title 5. State Financial Administration
39-1 to 15 REPEALED. §39-1 Authorization to issue; amount.
39-3 Allotments; appropriations.
39-6 Premiums to general fund.
39-7 Form and execution of bonds.
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.
39-33 Method of issuance and payment.
39-51 to 70 REPEALED. §39-51 Definitions.
39-53 Additional powers of departments.
39-54 Authorization of revenue bonds; details of revenue bonds.
39-56 Form and execution of revenue bonds.
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.
39-63 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.
39-69 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.
39-76 Validation of proceedings.
39-91 to 99 REPEALED. §39-91 Definitions.
39-92 State debt limit statement.
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.
39-162 Perfection of a security interest.