| 47 | | - | SECTION 1. Section 356D-1, Hawaii Revised Statutes, is amended by adding a new definition to be appropriately inserted and to read as follows: ""Housing" or "housing project" means any home, house, residence, building, apartment, living quarters, abode, domicile, or dwelling unit that is designed principally for the purposes of sheltering people." SECTION 2. Section 356D-8, Hawaii Revised Statutes, is amended as follows: 1. By amending subsection (a) to read: "(a) The authority may acquire any real or personal property or interest therein by purchase, exchange, gift, grant, lease, or other means from any person or government to provide [public] housing. Exchange of real property shall be in accordance with section 171-50." 2. By amending subsection (c) to read: "(c) The authority may lease or rent all or a portion of any [public] housing project and establish and revise the rents or charges therefor. The authority may sell, exchange, transfer, assign, or pledge any property, real or personal, or any interest therein to any person or government." SECTION 3. Section 356D-10, Hawaii Revised Statutes, is amended to read as follows: "[[]§356D-10[]] Agents, including corporations. The authority may exercise any or all of the powers conferred upon it, either generally or with respect to any specific [public] housing project through an agent that it may designate, including any corporation that is formed under the laws of this State, and for those purposes the authority may cause one or more corporations to be formed under the laws of this State or may acquire the capital stock of any corporation. Any corporate agent, all of the stock of which shall be owned by the authority or its nominee, may to the extent permitted by law, exercise any of the powers conferred upon the authority in this chapter." SECTION 4. Section 356D-11, Hawaii Revised Statutes, is amended to read as follows: "§356D-11 Development of property. (a) The authority, in its own behalf or on behalf of any government, may: (1) Clear, improve, and rehabilitate property; and (2) Plan, develop, construct, and finance housing projects. (b) The authority may develop public land in an agricultural district subject to the prior approval of the land use commission when developing lands greater than five acres in size. The authority shall not develop state monuments, historical sites, or parks. When the authority proposes to develop public land, it shall file with the department of land and natural resources a petition setting forth that purpose. The petition shall be conclusive proof that the intended use is a public use superior to that to which the land had been appropriated. (c) The authority may develop or assist in the development of federal lands with the approval of appropriate federal authorities. (d) The authority shall not develop any public land where the development may endanger the receipt of any federal grant, impair the eligibility of any government agency for a federal grant, prevent the participation of the federal government in any government program, or impair any covenant between the government and the holder of any bond issued by the government. (e) The authority may contract or sponsor with any county, housing authority, or person, subject to the availability of funds, housing projects designed to meet the needs of elders, disabled, displaced or homeless persons, low- and moderate-income persons, government employees, teachers, or university and college students and faculty. (f) The authority may enter into contracts with eligible developers to develop housing projects in exchange for mixed use development rights. Eligibility of a developer for an exchange pursuant to this subsection shall be determined pursuant to rules adopted by the authority in accordance with chapter 91. As used in this subsection, "mixed use development rights" means the right to develop a portion of a housing project for commercial use. (g) The authority may develop, with an eligible developer, or may assist under a government assistance program in the development of, housing projects. The land planning activities of the authority shall be coordinated with the county planning departments and the county land use plans, policies, and ordinances. Any person, if qualified, may act simultaneously as developer and contractor. In selecting eligible developers or in contracting any services or materials for the purposes of this subsection, the authority shall be subject to all federal procurement laws and regulations. For purposes of this subsection, "government assistance program" means a housing program qualified by the authority and administered or operated by the authority or the United States or any of their political subdivisions, agencies, or instrumentalities, corporate or otherwise. (h) In connection with the development of any housing dwelling units under this chapter, the authority may also develop commercial properties and industrial properties and sell or lease other properties if it determines that the uses will be an integral part of the housing development or a benefit to the community in which the properties are situated. The authority may designate any portions of the housing development for commercial, industrial, or other use and shall have all the powers granted under this chapter with respect thereto. The authority may use any funding authorized under this chapter to implement this subsection. The net proceeds of all sales or leases, less costs to the authority, shall be deposited in the public housing special fund established by section 356D-28. [(i) For purposes of this section, "housing" or "housing project" means any home, house, residence, building, apartment, living quarters, abode, domicile, or dwelling unit that is designed principally for the purposes of sheltering people.]" SECTION 5. Section 356D-11.2, Hawaii Revised Statutes, is amended to read as follows: "[[]§356D-11.2[]] Ceded lands; vacancy; development. [(a)] No housing projects developed or constructed pursuant to this part shall be developed or constructed on ceded land that is vacant on or after January 1, 2022. [(b) For the purposes of this section, "housing project" shall have the same meaning as that term is defined in section 356D-11.]" SECTION 6. Section 356D-12, Hawaii Revised Statutes, is amended to read as follows: "§356D-12 Development of property; additional powers. [(a)] Notwithstanding any other law to the contrary, whenever the bids submitted for the development or rehabilitation of any housing project authorized pursuant to this chapter exceed the amount of funds available for that project, the authority, with the approval of the governor, may disregard the bids and enter into an agreement to carry out the project, undertake the project, or participate in the project under the agreement; provided that: (1) The total cost of the agreement and the authority's participation, if any, shall not exceed the amount of funds available for the project; and (2) If the agreement is with a nonbidder, the scope of the project under agreement shall remain the same as that for which bids were originally requested. [(b) For purposes of this section, "housing project" shall have the same meaning as that term is defined in section 356D-11.]" SECTION 7. Section 356D-12.5, Hawaii Revised Statutes, is amended to read as follows: "§356D-12.5 Development of property; partnership or development agreement. (a) Any housing project may be developed under sections 356D-11 and 356D-12 by the authority in partnership or under a development agreement with a private party; provided that a written partnership or development agreement is executed by the authority. At a minimum, the partnership or development agreement shall provide for: (1) A determination by the authority that the partnership or development agreement is for a public purpose; and (2) Final approval by the authority of the plans and specifications for the housing project. (b) For the development of housing projects pursuant to subsection (a), except as provided by federal law or regulation, the authority shall not be subject to chapters 103 and 103D or any and all other requirements of law for competitive bidding for partnership or development agreements, construction contracts, or other contracts; provided that the authority shall develop internal policies and procedures for the procurement of goods, services, and construction, consistent with the goals of public accountability and public procurement practices. (c) The authority shall submit an annual report to the legislature, no later than twenty days prior to the convening of each regular session, on the status of all housing projects being developed using partnership or development agreements pursuant to subsection (a). (d) The authority may adopt rules pursuant to chapter 91 necessary for the purposes of this section. [(e) For the purposes of this section, "housing project" shall have the same meaning as that term is defined in section 356D-11.]" SECTION 8. Section 356D-21, Hawaii Revised Statutes, is amended as follows: 1. By amending subsection (d) to read: "(d) The authority may issue bonds as it may determine, including without limitation bonds payable from and secured, in whole or in part, by: (1) Income and revenues derived from the [public] housing project or projects financed from the proceeds of bonds; (2) Receipts derived from any grant from the federal government made in aid of a [public] housing project or projects financed from the proceeds of bonds; (3) Income and revenues derived from a particular designated [public] housing project or projects whether or not financed, in whole or in part, from the proceeds of bonds; (4) Income and revenues of the authority generally; or (5) Any combination of paragraphs (1) through (4)." 2. By amending subsection (f) to read: "(f) Any [public] housing project or projects authorized by, and undertaken pursuant to, this chapter shall constitute an ["undertaking"] undertaking within the meaning of that term as defined and used in part III, chapter 39. The authority shall constitute a ["department"] department and the board shall constitute a ["governing body"] governing body within the meaning of those terms as defined and used in part III, chapter 39." SECTION 9. Section 356D-22, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows: "(b) The authority may include the costs of undertaking and maintaining any [public] housing project or projects for which the bonds are issued in determining the principal amount of bonds to be issued. In determining the cost of undertaking and maintaining the [public] housing project, the authority may include the cost of studies and surveys; insurance premiums; underwriting fees; financial consultant, legal, accounting, and other services incurred; reserve account, trustee, custodian, and rating agency fees; and interest on the bonds for a period determined by the authority." SECTION 10. Section 356D-23, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows: "(c) The trustee shall also be authorized by the authority to receive and receipt for, hold, and administer the revenues derived by the authority from any [public] housing project or projects for which the bonds are issued or the projects pledged to the payment of the bonds, and to apply the revenues to the payment of the cost of administering, operating, and maintaining the [public] housing project or projects, to pay the principal of and the interest on the bonds, to the establishment of reserves, and to other purposes as may be authorized in the proceedings providing for the issuance of the bonds." SECTION 11. Section 356D-24, Hawaii Revised Statutes, is amended as follows: 1. By amending subsection (b) to read: "(b) A trust indenture may allow the authority to pledge and assign to the trustee agreements related to the [public] housing project or projects and the rights of the authority thereunder, including the right to receive revenues thereunder and to enforce the provision thereof." 2. By amending subsections (d) and (e) to read: "(d) A trust indenture shall also contain provisions as to: (1) The investment of the proceeds of the bonds, the investment of any reserve for the bonds, the investment of the revenues of the [public] housing project or system of [public] housing projects, and the use and application of the earnings from investments; and (2) The terms and conditions upon which the holders of the bonds or any portion of them or any trustee thereof may institute proceedings for the enforcement of any agreement or any note or other undertaking, obligation, or property securing the payment of the bonds and the use and application of the moneys derived therefrom. (e) A trust indenture may also contain provisions deemed necessary or desirable by the authority to obtain or permit, by grant, interest subsidy, or otherwise, the participation of the federal government in the [public] housing projects or in the financing of the costs of administering, operating, or maintaining the [public] housing projects." SECTION 12. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored. SECTION 13. This Act shall take effect on July 1, 3000. |
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| 47 | + | SECTION 1. Section 356D-8, Hawaii Revised Statutes, is amended to read as follows: "[[]§356D-8[]] Acquisition, use, and disposition of property. (a) The authority may acquire any real or personal property or interest therein by purchase, exchange, gift, grant, lease, or other means from any person or government to provide [public] housing. Exchange of real property shall be in accordance with section 171-50. (b) The authority may own or hold real property. All real property owned or held by the authority shall be exempt from mechanics' or materialmen's liens and also from levy and sale by virtue of an execution, and no execution or other judicial process shall issue against the property of the authority nor shall any judgement against the authority be a charge or lien upon its real property; provided that this subsection shall not apply to nor limit the right of obligees to foreclose or otherwise enforce any mortgage of the authority or the right of obligees to pursue any remedies for the enforcement of any pledge or lien given by the authority on its rents, fees, or revenues. The authority and its property shall be exempt from all taxes and assessments. (c) The authority may lease or rent all of a portion of any [public] housing project and establish and revise the rents or charges therefor. The authority may sell, exchange, transfer, assign, or pledge any property, real or personal, or any interest therein to any person or government. (d) The authority may insure or provide for the insurance of its property or operations against risks as it deems advisable. (e) For the purposes of this section, "housing project" shall have the same meaning as that term is defined in section 356D-11." SECTION 2. Section 356D-10, Hawaii Revised Statutes, is amended to read as follows: "[[]§356D-10[]] Agents, including corporations. The authority may exercise any or all of the powers conferred upon it, either generally or with respect to any specific [public] housing project through an agent that it may designate, including any corporation that is formed under the laws of this State, and for those purposes the authority may cause one or more corporations to be formed under the laws of this State or may acquire the capital stock of any corporation. Any corporate agent, all of the stock of which shall be owned by the authority or its nominee, may to the extent permitted by law, exercise any of the powers conferred upon the authority in this chapter. For the purposes of this section, "housing project" shall have the same meaning as that term is defined in section 356D-11." SECTION 3. Section 356D-21, Hawaii Revised Statutes, is amended to read as follows: "[[]§356D-21[]] Bonds; authorization. (a) The authority, with the approval of the governor, may issue from time to time bonds (including refunding bonds to pay, retire, or provide for the retirement of bonds previously issued by the authority) in amounts not exceeding the total amount of bonds authorized to be issued by the legislature for any of its corporate purposes. (b) All bonds shall be issued pursuant to part III of chapter 39, except as provided in this part. (c) The bonds shall be issued in the name of the authority, and not in the name of the State. The final maturity date of the revenue bonds may be any date not exceeding sixty years from the date of issuance. (d) The authority may issue bonds as it may determine, including without limitation bonds payable from and secured, in whole or in part, by: (1) Income and revenues derived from the [public] housing project or projects financed from the proceeds of bonds; (2) Receipts derived from any grant from the federal government made in aid of a [public] housing project or projects financed from the proceeds of bonds; (3) Income and revenues derived from a particular designated [public] housing project or projects whether or not financed, in whole or in part, from the proceeds of bonds; (4) Income and revenues of the authority generally; or (5) Any combination of paragraphs (1) through (4). (e) Any pledge made by the authority shall create a perfected security interest in the revenues, moneys, or property so pledged and thereafter received by the authority from and after the time that a financing statement with respect to the revenues, moneys, or property so pledged and thereafter received shall be filed with the bureau of conveyances. Upon the filing, the revenues, moneys, or property so pledged and thereafter received by the authority shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of the pledge shall be prior to the lien of all parties having claims of any kind in tort, contract, or otherwise against the authority, irrespective of whether the parties have notice thereof. This section shall apply to any financing statement heretofore or hereafter filed with the bureau of conveyances with respect to any pledge made to secure revenue bonds issued under this part. (f) Any [public] housing project or projects authorized by, and undertaken pursuant to, this chapter shall constitute an "undertaking" within the meaning of that term as defined and used in part III, chapter 39. The authority shall constitute a "department" and the board shall constitute a "governing body" within the meaning of those terms as defined and used in part III, chapter 39. (g) Neither the members of the board nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof. (h) For the purposes of this section, "housing project" shall have the same meaning as that term is defined in section 356D-11." SECTION 4. Section 356D-22, Hawaii Revised Statutes, is amended to read as follows: "[[]§356D-22[]] Bonds; interest rate, price, and sale. (a) The bonds shall bear interest at rates payable at times that the authority, with the approval of the governor, may determine except for deeply discounted bonds that are subject to redemption or retirement at their accreted value; provided that the discounted value of the bonds shall not exceed ten per cent of any issue; and provided further that no bonds may be issued without the approval of the director of finance and the governor. Notwithstanding any other law to the contrary, the authority may, subject to the approval of the director of finance and the governor, issue bonds pursuant to section 356D-21, in which the discounted value of the bonds exceeds ten per cent of the issue. (b) The authority may include the costs of undertaking and maintaining any [public] housing project or projects for which the bonds are issued in determining the principal amount of bonds to be issued. In determining the cost of undertaking and maintaining the [public] housing project, the authority may include the cost of studies and surveys; insurance premiums; underwriting fees; financial consultant, legal, accounting, and other services incurred; reserve account, trustee, custodian, and rating agency fees; and interest on the bonds for a period determined by the authority. (c) For the purposes of this section, "housing project" shall have the same meaning as that term is defined in section 356D-11." SECTION 5. Section 356D-23, Hawaii Revised Statutes, is amended to read as follows: "§356D-23 Trustee; designation, duties. (a) The authority may designate a trustee for each issue of bonds secured under the same trust indenture; provided that the trustee shall be approved by the director of finance. (b) The trustee shall be authorized by the authority to receive and receipt for, hold, and administer the proceeds of the bonds, and to apply the proceeds to the purposes for which the bonds are issued. (c) The trustee shall also be authorized by the authority to receive and receipt for, hold, and administer the revenues derived by the authority from any [public] housing project or projects for which the bonds are issued or the projects pledged to the payment of the bonds, and to apply the revenues to the payment of the cost of administering, operating, and maintaining the [public] housing project or projects, to pay the principal of and the interest on the bonds, to the establishment of reserves, and to other purposes as may be authorized in the proceedings providing for the issuance of the bonds. (d) Notwithstanding section 39-68, the director of finance may appoint the trustee to serve as fiscal agent for: (1) The payment of the principal of and interest on the bonds; and (2) The purchase, registration, transfer, exchange, and redemption of the bonds. (e) The trustee shall perform additional functions with respect to the payment, purchase, registration, transfer, exchange, and redemption, as the director of finance may deem necessary, advisable, or expeditious, including the holding of the bonds and coupons, if any, that have been paid and the supervision of their destruction in accordance with law. (f) Nothing in this part shall limit or be construed to limit the powers granted to the director of finance in sections 36-3, 39-13, and 39-68(a), to appoint the trustee or others as fiscal agents, paying agents, and registrars for the bonds or to authorize and empower those fiscal agents, paying agents, and registrars to perform the functions referred to in those sections. (g) For the purposes of this section, "housing project" shall have the same meaning as that term is defined in section 356D-11." SECTION 6. Section 356D-24, Hawaii Revised Statutes, is amended to read as follows: "[[]§356D-24[]] Trust indenture. (a) A trust indenture may contain covenants and provisions authorized by part III of chapter 39, and as deemed necessary or convenient by the authority for the purposes of this part. (b) A trust indenture may allow the authority to pledge and assign to the trustee agreements related to the [public] housing project or projects and the rights of the authority thereunder, including the right to receive revenues thereunder and to enforce the provision thereof. (c) Where a trust indenture provides that any bond issued under that trust indenture is not valid or obligatory for any purpose unless certified or authenticated by the trustee, all signatures of the officers of the State upon the bonds required by section 39-56 may be facsimiles of their signatures. (d) A trust indenture shall also contain provisions as to: (1) The investment of the proceeds of the bonds, the investment of any reserve for the bonds, the investment of the revenues of the [public] housing project or system of [public] housing projects, and the use and application of the earnings from investments; and (2) The terms and conditions upon which the holders of the bonds or any portion of them or any trustee thereof may institute proceedings for the enforcement of any agreement or any note or other undertaking, obligation, or property securing the payment of the bonds and the use and application of the moneys derived therefrom. (e) A trust indenture may also contain provisions deemed necessary or desirable by the authority to obtain or permit, by grant, interest subsidy, or otherwise, the participation of the federal government in the [public] housing projects or in the financing of the costs of administering, operating, or maintaining the [public] housing projects. (f) For the purposes of this section, "housing project" shall have the same meaning as that term is defined in section 356D-11." SECTION 7. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored. SECTION 8. This Act shall take effect upon its approval. INTRODUCED BY: _____________________________ BY REQUEST |
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