REPORT TITLE:
Health Care Facilities


DESCRIPTION:
Authorizes the issuance of special purpose revenue bonds to
assist not-for-profit Hawaii corporations that provide health
care facilities.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        1608
THE SENATE                              S.B. NO.           S.D. 1
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
________________________________________________________________
________________________________________________________________


                   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                              PART I.
 
 2      SECTION 1.  The legislature finds and declares that it is in
 
 3 the public interest to encourage the development of health care
 
 4 facilities in the State.  The legislature further finds that
 
 5 Pacific Women's Center, Inc., a not-for-profit Hawaii
 
 6 corporation, is engaged in the development of a health care
 
 7 facility in central Oahu, and thereby serves the general public.
 
 8      The legislature further finds that Pacific Women's Center,
 
 9 Inc., is engaged in the planning, design, and construction of a
 
10 patient-focused facility.  The Pacific Women's Center would
 
11 consist primarily of a birthing center with postpartum, nursery,
 
12 labor, and delivery services.
 
13      The legislature further finds that Pacific Women's Center,
 
14 Inc., may be assisted through the issuance of special purpose
 
15 revenue bonds because its health care facility is a project
 
16 pursuant to part II, chapter 39A, Hawaii Revised Statutes.
 
17      The legislature finds and declares that the issuance of
 
18 special purpose revenue bonds under this part is in the public
 
19 interest and for the public health, safety, and general welfare
 

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

 
Page 3                                                     1608
                                     S.B. NO.           S.D. 1
                                                        
                                                        

 
 1 the public interest to encourage the development of health care
 
 2 facilities in the State.  The legislature further finds that
 
 3 Pacific Saging Center, Inc., a not-for-profit Hawaii corporation,
 
 4 is engaged in the development of a health care facility in
 
 5 central Oahu, and thereby serves the general public.
 
 6      The legislature further finds that Pacific Saging Center,
 
 7 Inc., is engaged in the planning, design, and construction of a
 
 8 patient-focused facility.  The development would include such
 
 9 items and activities as:
 
10      (1)  Saging center;
 
11      (2)  Child care;
 
12      (3)  Adult care;
 
13      (4)  Mentoring programs; and
 
14      (5)  Activity centers.
 
15      The legislature further finds that Pacific Saging Center,
 
16 Inc., may be assisted through the issuance of special purpose
 
17 revenue bonds because its health care facility is a project
 
18 pursuant to part II, chapter 39A, Hawaii Revised Statutes.
 
19      The legislature finds and declares that the issuance of
 
20 special purpose revenue bonds under this part is in the public
 
21 interest and for the public health, safety, and general welfare
 
22 of the State.
 
23      SECTION 4.  Pursuant to part II, chapter 39A, Hawaii Revised
 

 
Page 4                                                     1608
                                     S.B. NO.           S.D. 1
                                                        
                                                        

 
 1 Statutes, the department of budget and finance, with the approval
 
 2 of the governor, is authorized to issue special purpose revenue
 
 3 bonds in a total amount not to exceed $500,000, in one or more
 
 4 series, for the purpose of assisting Pacific Saging Center, Inc.,
 
 5 a not-for-profit Hawaii corporation, or a Hawaii nonprofit
 
 6 affiliate of the same, with financing one or more of the
 
 7 following:
 
 8      (1)  Acquisition or leasing of land for a new facility;
 
 9      (2)  Planning, design, and construction of a new health care
 
10           facility; and
 
11      (3)  Acquisition and installation of additional capital
 
12           equipment for use in connection with Pacific Saging
 
13           Center, Inc., facilities.
 
14      The legislature finds and determines that the activities and
 
15 facilities of Pacific Saging Center, Inc. and its affiliates
 
16 constitute a project as defined in part II, chapter 39A, Hawaii
 
17 Revised Statutes, and that the financing thereof is assistance to
 
18 a health care facility.
 
19                             PART III.
 
20      SECTION 5.  The legislature finds and declares that it is in
 
21 the public interest to encourage the development of health care
 
22 facilities in the State.  The legislature further finds that
 
23 Pacific Sports Medicine & Research Center Inc., a not-for-profit
 

 
Page 5                                                     1608
                                     S.B. NO.           S.D. 1
                                                        
                                                        

 
 1 Hawaii corporation, is engaged in the development of a health
 
 2 care facility in central Oahu, and thereby serves the general
 
 3 public.
 
 4      The legislature further finds that Pacific Sports Medicine &
 
 5 Research Center, Inc., is engaged in the planning, design, and
 
 6 construction of a patient-focused facility.
 
 7      The legislature further finds that Pacific Sports Medicine &
 
 8 Research Center, Inc., may be assisted through the issuance of
 
 9 special purpose revenue bonds because its health care facility is
 
10 a project pursuant to part II, chapter 39A, Hawaii Revised
 
11 Statutes.
 
12      The legislature finds and declares that the issuance of
 
13 special purpose revenue bonds under this part is in the public
 
14 interest and for the public health, safety, and general welfare
 
15 of the State.
 
16      SECTION 6.  Pursuant to part II, chapter 39A, Hawaii Revised
 
17 Statutes, the department of budget and finance, with the approval
 
18 of the governor, is authorized to issue special purpose revenue
 
19 bonds in a total amount not to exceed $20,000,000, in one or more
 
20 series, for the purpose of assisting Pacific Sports Medicine &
 
21 Research, Inc., a not-for-profit Hawaii corporation, or a Hawaii
 
22 nonprofit affiliate of the same, with financing one or more of
 
23 the following:
 

 
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 1      (1)  Acquisition or leasing of land for a new facility in
 
 2           central Oahu;
 
 3      (2)  Planning, design, and construction of a new health care
 
 4           facility; or
 
 5      (3)  Acquisition and installation of additional capital
 
 6           equipment for use in connection with Pacific Sports
 
 7           Medicine & Research Center, Inc. facilities.
 
 8      The legislature finds and determines that the activities and
 
 9 facilities of Pacific Sports Medicine & Research Center, Inc. and
 
10 its affiliates constitute a project as defined in part II,
 
11 chapter 39A, Hawaii Revised Statutes, and that the financing
 
12 thereof is assistance to a health care facility.
 
13                             PART IV.
 
14      SECTION 7.  The legislature finds and declares that it is in
 
15 the public interest to encourage the development of health care
 
16 facilities in the State.  The legislature further finds that
 
17 Pacific Cardiac Institute, Inc., a not-for-profit Hawaii
 
18 corporation, is engaged in the development of a health care
 
19 facility in central Oahu, and thereby serves the general public.
 
20      The legislature further finds that Pacific Cardiac
 
21 Institute, Inc., is engaged in the planning, design, and
 
22 construction of a patient-focused facility.
 
23      The legislature further finds that Pacific Cardiac
 

 
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                                     S.B. NO.           S.D. 1
                                                        
                                                        

 
 1 Institute, Inc., may be assisted through the issuance of special
 
 2 purpose revenue bonds because its health care facility is a
 
 3 project pursuant to part II, chapter 39A, Hawaii Revised
 
 4 Statutes.
 
 5      The legislature finds and declares that the issuance of
 
 6 special purpose revenue bonds under this part is in the public
 
 7 interest and for the public health, safety, and general welfare
 
 8 of the State.
 
 9      SECTION 8.  Pursuant to part II, chapter 39A, Hawaii Revised
 
10 Statutes, the department of budget and finance, with the approval
 
11 of the governor, is authorized to issue special purpose revenue
 
12 bonds in a total amount not to exceed $15,000,000, in one or more
 
13 series, for the purpose of assisting Pacific Cardiac Institute,
 
14 Inc., a not-for-profit Hawaii corporation, or a Hawaii nonprofit
 
15 affiliate of the same, with financing one or more of the
 
16 following:
 
17      (1)  Acquisition or leasing of land for a new facility in
 
18           central Oahu;
 
19      (2)  Planning, design, and construction of a new health care
 
20           facility; or
 
21      (3)  Acquisition and installation of additional capital
 
22           equipment for use in connection with Pacific Cardiac
 
23           Institute, Inc., facilities.
 

 
Page 8                                                     1608
                                     S.B. NO.           S.D. 1
                                                        
                                                        

 
 1      The legislature finds and determines that the activities and
 
 2 facilities of Pacific Cardiac Institute, Inc., and its affiliates
 
 3 constitute a project as defined in part II, chapter 39A, Hawaii
 
 4 Revised Statutes, and that the financing thereof is assistance to
 
 5 a health care facility.
 
 6                              PART V.
 
 7      SECTION 9.  The legislature finds and declares that it is in
 
 8 the public interest to encourage the development of health care
 
 9 facilities in the State.  The legislature further finds that
 
10 Pacific Wellness Center, Inc., a not-for-profit Hawaii
 
11 corporation, is engaged in the development of a health care
 
12 facility in central Oahu, and thereby serves the general public.
 
13      The legislature further finds that Pacific Wellness Center,
 
14 Inc., is engaged in the planning, design, and construction of a
 
15 patient-focused facility.  The Pacific Wellness Center's health
 
16 focus would be on the Hawaiian healing arts, medicinal plants,
 
17 and also contain an Institute of Acupuncture.
 
18      The legislature further finds that Pacific Wellness Center,
 
19 Inc., may be assisted through the issuance of special purpose
 
20 revenue bonds because its health care facility is a project
 
21 pursuant to part II, chapter 39A, Hawaii Revised Statutes.
 
22      The legislature finds and declares that the issuance of
 
23 special purpose revenue bonds under this part is in the public
 

 
Page 9                                                     1608
                                     S.B. NO.           S.D. 1
                                                        
                                                        

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

 
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 1      SECTION 11.  The special purpose revenue bonds issued under
 
 2 this Act shall be issued pursuant to part II, chapter 39A, Hawaii
 
 3 Revised Statutes, relating to the authority to issue special
 
 4 purpose revenue bonds to assist not-for-profit corporations that
 
 5 provide health care facilities to the general public.
 
 6      SECTION 12.  The department of budget and finance is
 
 7 authorized to issue from time to time refunding special purpose
 
 8 revenue bonds in such principal amounts as the department shall
 
 9 determine to be necessary to refund the special purpose revenue
 
10 bonds authorized in sections 2, 4, 6, 8, and 10.  In making this
 
11 determination, the department shall comply with federal law
 
12 relating to the exemption from federal income taxation of the
 
13 interest on bonds of the nature authorized under this section.
 
14      SECTION 13.  The authorization to issue special purpose
 
15 revenue bonds under this Act shall lapse on June 30, 2001.
 
16      SECTION 14.  This Act shall take effect upon its approval.