§49-18 Investment of reserves, etc. The director of finance may invest any money held as reserves or in sinking funds or not required for immediate disbursement, including proceeds of the revenue bonds, which in the director's judgment are in excess of the amounts necessary for the meeting of immediate requirements, in securities permitted by the resolution or resolutions and which constitute legal investments for public funds. Income derived therefrom shall be treated as revenue of the undertaking or loan program; expenses of purchase, safekeeping, sale, and redemption, and all other expenses of the undertaking or loan program. Securities so purchased shall be considered as being deposited in the custody or control of the director of finance and shall be legally secured as required by law. [L 1989, c 80, pt of §3]
Structure Hawaii Revised Statutes
Title 6. County Organization and Administration
49-3 Additional powers of counties.
49-4 Authorization of undertaking, loan program and revenue bonds; details of revenue bonds.
49-6 Form and execution of revenue bonds.
49-8 Support facility for variable rate revenue bonds.
49-9 Covenants in resolution authorizing issuance of revenue bonds.
49-10 Rates, rentals, fees and charges; undertakings and loan programs to be self-sustaining.
49-11 Use of revenue and user taxes of undertaking or loan program.
49-12 Lien and charge of revenue bonds.
49-13 Revenue bonds not a general or moral obligation of the county.
49-14 Undertaking, loan program, and revenue bonds exempt from taxation.
49-15 Federal tax-exempt status; preference; protection.
49-16 Revenue bonds legal investments.
49-17 Duties of the director of finance.
49-18 Investment of reserves, etc.
49-19 Bond anticipation notes.
49-20 Refunding revenue bonds.
49-21 General laws applicable.
49-22 Consent of another county.
49-23 Consent of state agencies.