§53-32 Limitations. In addition to limitations prescribed by this part a redevelopment corporation shall not have power to:
(1) Acquire any real property or interest therein for a project or projects unless the redevelopment agency determines as provided in this part that the acquisition is necessary or convenient for the public purpose defined in this part.
(2) Issue its stock, debentures, and bonds covering any project undertaken by it in an amount greater in the aggregate than the total actual final cost of the project. The actual cost of the project shall include the cost of the lands and improvements constituting the project and charges for planning, financing, and supervision approved by the supervising agency, condemnation charges and interest and other carrying charges during the period of acquisition and of construction. The total actual final cost shall be deemed to be an amount equal to the actual cost plus an allowance for working capital. The allowance for working capital shall not exceed an amount equal to five per cent of the estimated cost or of the total actual final cost of the project if that shall be greater than the estimated cost.
(3) Enter into contracts for the payment of salaries to officers or employees, or for the construction or for the substantial repair, improvement, or operation of projects, except subject to the approval of the agency. [L 1949, c 379, §15; RL 1955, §143-31; HRS §53-32]
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.