Section 266-19 - Creation of harbor special fund; disposition of harbor special fund(a) There is created in the treasury of the State the harbor special fund. All moneys received by the department of transportation from the rates, fees, fines, and administrative penalties pursuant to sections 266-17(a) (1), 266-25, 266-28, and 266-30 shall be paid into the harbor special fund. The harbor special fund and the second separate harbor special fund heretofore created shall be consolidated into the harbor special fund at such time as there are no longer any revenue bonds payable from the second separate harbor special fund. The harbor reserve fund heretofore created is abolished. All moneys derived pursuant to this chapter from harbor properties of the statewide system of harbors shall be paid into the harbor special fund and each fiscal year shall be appropriated, applied, or expended by the department of transportation for the statewide system of harbors for any purpose within the jurisdiction, powers, duties, and functions of the department of transportation related to the statewide system of harbors, including, without limitation, the costs of operation, maintenance, and repair of the statewide system of harbors and reserves therefor, and acquisitions (including real property and interests therein), constructions, additions, expansions, improvements, renewals, replacements, reconstruction, engineering, investigation, and planning, for the statewide system of harbors, all or any of which in the judgment of the department of transportation are necessary to the performance of its duties or functions.
(b) At any time the director of transportation may transfer from the harbor special fund created by subsection (a) all or any portion of available moneys on deposit in the harbor special fund that is determined by the director of transportation to be in excess of one hundred fifty per cent of the requirements for the ensuing twelve months for the harbor special fund, as permitted by and in accordance with section 37-53. For purposes of this determination, the director of transportation shall take into consideration the amount of federal funds and bond funds on deposit in, and budgeted to be expended from, the harbor special fund during the ensuing twelve months; amounts on deposit in the harbor special fund that are encumbered or otherwise obligated; budgeted amounts payable from the harbor special fund during the ensuing twelve months; revenues anticipated to be received by and expenditures to be made from the harbor special fund during the ensuing twelve months based on existing agreements and other information for that period; and any other factors as the director of transportation shall deem appropriate.(c) All expenditures by the department shall be made on vouchers duly approved by the director of transportation or such other officer as may be designated by the director of transportation.Amended by L 2021, c 230,§ 2, eff. 7/6/2021.Amended by L 2012, c 313, § 2, eff. 7/10/2012.L 1941, c 142, §2; am L 1943, c 97, §1; RL 1945, §4998; am L 1945, c 112, §2; am L 1947, c 72, §3; RL 1955, § 112-20; am L 1967, c 221, §6; HRS § 266-19; am L 1979, c 105, §25; am L 1989, c 309, §7; am L 1998, c 114, §2 Transfer from harbor special fund, see § 36-29 .