Hawaii Revised Statutes Division 1. Government § 54-61

The sale of bonds for purposes of the board of water supply shall be subject to the approval of the council of the county; when approved by the council, the treasurer of the county shall sell any bonds that are authorized for the acquisition, construction, replacement, extension, or completion of any of the waterworks and water systems under the jurisdiction of the board of water supply; provided that the sales shall otherwise be conducted in accordance with the procedure specified by law for the sale of the bonds. The proceeds from the sales shall be kept by the county treasurer in a special fund to be used only for the purpose or purposes for which the bonds are sold.