The board of water supply may provide for the accumulation of a fund for the purpose of financing major replacements, or extensions and additions, the average estimated annual increments to which, for a period of ten years from July 1, 1959, shall not exceed fifteen per cent of the gross revenue of the board in any fiscal year.
Haw. Rev. Stat. § 54-60
Reserve fund
L 1949, c 86, §10; RL 1955, §146-109; am L 1959, c 83, §1; HRS §54-60
Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.