Findings and determinations for special facility leases
HRS §206M-43
in effect206M-43. Findings and determinations for special facility leases
The development corporation shall not enter into any special facility lease unless the development corporation, at or prior to the entering into of the special facility lease, shall find and determine:
(1) That the building, structure, or facility that is
to be the subject of the special facility lease shall not be used to provide
services, commodities, supplies or facilities that are then adequately being
made available otherwise in the State;
(2) That the use or occupancy of the building,
structure, or facility under the special facility lease would not result in the
reduction of the revenues derived from the economic zones or other properties
of the development corporation to an amount below the amount required to be
derived therefrom by section 39-61; and
(3) That the entering into of the special facility
lease would not be in violation of or result in a breach of any covenant
contained in any resolution or certificate authorizing any bonds of the State
then outstanding.
[L 2000, c 72, pt of §1; am L 2022, c 55, §2]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol04_Ch0201-0257/HRS0206M/HRS_0206M-0043.htmFetched: 11/10/2026