HAR §15-19-86. Payment before maturity

(a) On and after the second interest due date of any bonds so issued and annually thereafter, whenever sufficient funds are in the hands of the executive director, exceeding the next interest payment on the unpaid balance of any bonds so issued, the executive director shall call for payment, in accordance with the terms of such bond sale. Interest on the bonds so called for payment shall cease on the date of call, provided that all notice requirements have been satisfied. The monies provided for the payment of the bonds with the interest unpaid to the date of their call for payment shall be transferred from the assessment area assessment fund into the assessment area bond and interest redemption fund to which only the owners of the bonds shall thereafter look for payment. [Eff 9/17/84] (Auth: HRS §§206E-4, 206E-6) (Imp: HRS §§206E-4, 206E-6) §15-19-87 Payment at maturity. All bonds not previously paid shall be paid at maturity together with interest thereon as the same become due at the places and in the manner prescribed by this chapter. [Eff 9/17/84] (Auth: HRS §§206E-4, 206E-6) (Imp: HRS §§206E-4, 206E-6) UNOFFICIAL COMPILATION NOVEMBER 1999 -26- §15-19-88 Bonds not chargeable against general revenues. Bonds issued under the provisions of this chapter shall not constitute a general or other obligation of the State, or a charge against the general fund of the State. [Eff 9/17/84] (Auth: HRS §§206E-4, 206E-6) (Imp: HRS §§206E-4, 206E-6) §15-19-89 County financing. The counties may issue assessments area bonds to implement the purposes of this chapter. Said bonds may be issued pursuant to county legal requirements provided that the authority has consented to said requirements prior to issuance. [Eff 9/17/84] (Auth: HRS §§206E-4, 206E-6) (Imp: HRS §§206E-4, 206E-6) §15-19-90 to