REPORT TITLE:
Health Care Facilities


DESCRIPTION:
Authorizes the issuance of special purpose revenue bonds to
assist Wahiawa Central-Oahu Health Center, Inc., a not-for-profit
Hawaii corporation, or a Hawaii nonprofit affiliate of Wahiawa
Central-Oahu Health Center, Inc.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                            972         
HOUSE OF REPRESENTATIVES                H.B. NO.           
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR
   NOT-FOR-PROFIT CORPORATIONS THAT PROVIDE HEALTH CARE
   FACILITIES.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The legislature finds and declares that it is in
 
 2 the public interest to encourage the development of health care
 
 3 in the State.  The legislature further finds that Wahiawa
 
 4 Central-Oahu Health Center, Inc., a not-for-profit Hawaii
 
 5 corporation, is engaged in the development of a health care
 
 6 facility in the Koa Ridge area of central Oahu, and thereby
 
 7 serves the public.
 
 8      The legislature further finds that Wahiawa Central-Oahu
 
 9 Health Center, Inc., is engaged in the planning, design, and
 
10 construction of a thirty acre patient-focused facility that
 
11 includes, but is not limited to, the following:
 
12      (1)  Outpatient diagnostics facilities;
 
13      (2)  Emergency room facilities witih observation beds; and
 
14      (3)  Ambulatory surgical unit.
 
15      The legislature further finds that Wahiawa Central-Oahu
 
16 Health Center, Inc., may be assisted through the issuance of
 
17 special purpose revenue bonds because its health care facility is
 
18 a health care project pursuant to part II, chapter 39A, Hawaii
 
19 Revised Statutes.
 

 
Page 2                                         972         
                                     H.B. NO.           
                                                        
                                                        

 
 1      The legislature finds and declares that the issuance of
 
 2 special purpose revenue bonds under this Act is in the public
 
 3 interest and for the public health, safety, and general welfare.
 
 4      SECTION 2.  Pursuant to part II, chapter 39A, Hawaii Revised
 
 5 Statutes, the department of budget and finance, with the approval
 
 6 of the governor, is authorized to issue special purpose revenue
 
 7 bonds in a total amount not to exceed $13,100,000, in one or more
 
 8 series, for the purpose of assisting Wahiawa Central-Oahu Health
 
 9 Center, Inc., a not-for-profit Hawaii corporation, or a Hawaii
 
10 nonprofit affiliate of Wahiawa Central-Oahu Health Center, Inc.,
 
11 with financing one or more of the following:
 
12      (1)  Acquisition or leasing of land for a new facility;
 
13      (2)  Planning, design, construction, and operation of a new
 
14           health care facility; or
 
15      (3)  Acquisition and installation of additional capital
 
16           equipment for use in connection with Wahiawa Central-
 
17           Oahu Health Center, Inc. facilities.
 
18      The legislature finds and determines that the activities and
 
19 facilities of Wahiawa Central-Oahu Health Care, Inc. and its
 
20 affiliates constitute a health care project as defined in part
 
21 II, chapter 39A, Hawaii Revised Statutes, and the financing
 
22 thereof is of assistance to a health care facility.
 
23      SECTION 3.  The special purpose revenue bonds issued under
 

 
Page 3                                         972         
                                     H.B. NO.           
                                                        
                                                        

 
 1 this Act shall be issued pursuant to part II, chapter 39A, Hawaii
 
 2 Revised Statutes, relating to the authority to issue special
 
 3 purpose revenue bonds to assist nonprofit corporations that
 
 4 provide health care facilities to the general public.
 
 5      SECTION 4.  The department of budget and finance is
 
 6 authorized to issue from time to time refunding special purpose
 
 7 revenue bonds in such in principal amounts as the department
 
 8 shall determine to be necessary to refund the special purpose
 
 9 revenue bonds authorized in section 2.  In making this
 
10 determination, the department shall comply with federal law
 
11 relating to the exemption from federal income taxation of the
 
12 interest on bonds of the nature authorized under this section.
 
13      SECTION 5.  The authorization to issue special purpose
 
14 revenue bonds under this Act shall lapse on June 30, 2003.
 
15      SECTION 6.  This Act shall take effect upon its approval.
 
16 
 
17                           INTRODUCED BY:_________________________