[§269‑162] Applications to issue bonds and authorize green infrastructure fee.
HRS §269-162
in effect269-162. [§269‑162] Applications to issue bonds
and authorize green infrastructure fee.
(a) In connection with the
issuance of bonds, the department may apply to the public utilities commission
for one or more financing orders, each of which financing orders authorizes the
following:
(1) The imposition, charging, and collection on
behalf of the department of the green infrastructure fee, to become effective
upon the issuance of the bonds, and the adjustment of the green infrastructure
fee on behalf of the department in accordance with an adjustment mechanism
requested by the department under this part in amounts sufficient to pay the
principal of and interest on bonds and all related financing costs on a timely
basis;
(2) The creation of green infrastructure property
under the financing order; and
(3) The deposit of the net proceeds of the bonds into
the green infrastructure special fund.
(b) The application shall include all of the
following:
(1) The principal amount of the bonds proposed to be
issued;
(2) An estimate of the date each series of bonds is
expected to be issued;
(3) The expected term, not to exceed thirty years,
during which term the green infrastructure fee associated with the issuance of
each series of bonds is expected to be imposed and collected;
(4) An estimate of the financing costs associated
with the issuance of each series of bonds;
(5) An estimate of the amount of the green
infrastructure fee revenues necessary to pay principal and interest on the
bonds and related financing costs as set forth in the application and the
calculation for that estimate, which calculation shall take into account the
estimated date or dates of issuance and the estimated principal amount of each
series of bonds;
(6) A proposed methodology for allocating the green
infrastructure fee among electric utilities and customer classes within each
electric utility;
(7) A description of a proposed formulaic adjustment
mechanism for the adjustment of the green infrastructure fee to ensure the
timely payment of principal and interest on the bonds and related financing
costs; and
(8) Any other information required by the public
utilities commission.
[L 2013, c 211, pt of §3]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol05_Ch0261-0319/HRS0269/HRS_0269-0162.htmFetched: 11/10/2026