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<br /> MB2423 SDI Page 2 of 3 <br /> <br /> <br /> (1) To pay the costs of operation, maintenance, and <br /> repair of the state highway system, including without <br /> limitation, the cost of equipment and general <br /> administrative overhead; <br /> <br /> (2) To pay the costs of acquisition (including real <br /> property and interests therein), planning, designing, <br /> construction and reconstruction of the state highway <br /> system, and bikeways, including, without limitation, <br /> the cost of equipment and general administrative <br /> overhead; [awl] <br /> <br /> (3) To reimburse the general fund for interest on and <br /> principal of general obligation bonds issued to <br /> finance highway projects where the bonds are <br /> designated to be reimbursable out of the state <br /> highway fund[-]; and <br /> (4) To pay the costs of construction, maintenance, <br /> and repair of county_roads; provided that none of the <br /> funds expended on a county road or program shall be <br /> federal funds when such expenditure would cause a <br /> violation of federal law or a federal grant <br /> agreement- <br /> <br /> (b) At any time the director of transportation may transfer from the <br /> state highway fund all or any portion of available moneys determined <br /> by the director of transportation to be in excess of one hundred <br /> thirty-five per cent of the requirements for the ensuing twelve <br /> months for the state highway fund as permitted by and in accordance <br /> with section 37-53. For purposes of the determination, the director <br /> of transportation shall take into consideration: <br /> <br /> (1) The amount of federal funds and bond funds on <br /> deposit in, and budgeted to be expended from, the <br /> state highway fund during the period; <br /> <br /> (2) Amounts on deposit in the state highway fund <br /> which are encumbered or otherwise obligated; <br /> <br /> (3) Budgeted amounts payable from the state highway <br /> fund during the period; <br /> <br /> (4) Revenues anticipated to be received by and <br /> expenditures to be made from the state highway fund <br /> during the period based on existing agreements and <br /> other information for the ensuing twelve months; and <br /> <br /> (5) Any other factors as the director of <br /> <br /> <br /> <br /> http://www.capitol.hawaii.gov/sessioncurrent/bills/hb2423_sdl_.htm 5/9/2006 <br />