§53-27 Limited return on investment. Subject to section 53-36, there shall be paid annually out of the earnings of the redevelopment corporation, after providing for all expenses, taxes, assessments, and depreciation in improvements, or, in the case of a lease, for amortization, a sum for interest and dividends not exceeding eight per cent of the total actual final cost of the project as defined by [paragraph] (2) of section 53-32. The obligation in respect of the payments shall be cumulative, and any deficiency in interest and dividends in any year shall be paid from the first available earnings in subsequent years; and any cash surplus derived from earnings remaining in the treasury of the redevelopment corporation in excess of the amount necessary to provide the cumulative annual sums shall, upon dissolution of the corporation, be paid into the redevelopment fund of the county in which the project lies. [L 1949, c 379, §10; am L 1951, c 244, §6; RL 1955, §143-26; am L 1959, c 44, §3; HRS §53-27]
Structure Hawaii Revised Statutes
Title 6. County Organization and Administration
53-2 Redevelopment agency; creation.
53-3 Interest in project prohibited; disclosure of interest.
53-5 Powers and duties of agency.
53-6 Initiation and approval of redevelopment plan.
53-7 Urban renewal projects in disaster areas.
53-8 Acquisition of lands in redevelopment project.
53-9 Work on acquired areas; competitive contracts.
53-10 Appraisal of lands of agency.
53-11 Government instrumentalities to cooperate with agency.
53-12 Sale and lease of acquired lands; preference.
53-13 New constructions by agency.
53-14 Agency exempt from real property taxes.
53-15 Financial assistance of agency and office of urban renewal coordinator; redevelopment fund.
53-17 Bonds of agency to be legal investments.
53-20 Auxiliary redevelopment area.
53-21 Auxiliary redevelopment area; displaced persons.
53-22 Governmental advances, donations, and other appropriations.
53-23 Redevelopment corporations; how created.
53-24 Consent of agency to incorporation of redevelopment corporations.
53-25 Application of other corporation laws.
53-26 Powers of redevelopment corporations.
53-27 Limited return on investment.
53-28 Consideration for issuance of stocks and bonds.
53-29 Minimum amount of stock and debentures.
53-31 Mortgages and mortgage bonds.
53-33 Advances by redevelopment corporation.
53-34 Regulation of redevelopment corporations.
53-35 Transfer of title or foreclosure of project.
53-37 Participation by certain corporations.
53-39 No limitation of provisions by implication.
53-53 Powers with respect to urban renewal.
53-54 Assistance to urban renewal by counties and other public bodies.
53-55 Urban redevelopment coordinator, office created.
53-56 Workable program, definition.
53-57 Coordinator, appointment, term, removal.
53-58 Coordinator, qualifications.
53-59 Coordinator, duties and powers.
53-60 Ordinance relating to repair, closing, and demolition of dwellings unfit for human habitation.
53-81 County may exercise urban renewal powers directly.
53-82 Abolition of existing agency.