Haw. Code R. § 6-16-1 - Purpose

This chapter is adopted pursuant to chapter 91, HRS, and implements part VII of chapter 39A, HRS, providing for the issuance of special purpose revenue bonds to assist not-for-profit corporations that provide early childhood education and care facilities serving the general public. The objectives of this chapter are:

(1) To offset the growth of the cost of providing early childhood education and care to the people of the State of Hawaii;

(2) To assist in the development and maintenance of early childhood education and care facilities by providing the proceeds of special purpose revenue bonds to not-for-profit corporations for the purpose of providing early childhood education and care facilities, or for refinancing debt incurred to provide early childhood education and care facilities; and

(3) To provide a means for the not-for-profit corporations so assisted to provide early childhood care and education to the general public at the lowest practicable cost.

Notes

Haw. Code R. § 6-16-1

[Eff APR 11 2005] (Auth: HRS § 26-38) (Imp: HRS Chapter 39A)