STAND. COM. REP. NO. 3226

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  H.B. No. 3014
                                        H.D. 1
                                        S.D. 1




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B.
No. 3014, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE
     BONDS,"

begs leave to report as follows:

     The purpose of this bill is to authorize the issuance of
special purpose revenue bonds in a total amount not to exceed
$19,000,000 to assist Rickmar Properties, Inc. in establishing a
distribution system for the air conditioning of buildings through
water chilled at a cooling facility.

     Your Committee finds that issuing special purpose revenue
bonds will make the development of such a system more
economically feasible.

     Your Committee has amended this measure by inserting a new
section to require the Department of Budget and Finance to
process the special purpose revenue bonds in accordance with the
requirements of its October 22, 1987, "Formal Application for
Financing of an Industrial Enterprise".

     As affirmed by the record of votes of the members of your
Committee on Ways and Means that is attached to this report, your
Committee is in accord with the intent and purpose of H.B. No.

 
a                                                     HB3014 SD1
 
 
                                   STAND. COM. REP. NO. 3226
                                   Page 2


3014, H.D. 1, as amended herein, and recommends that it pass
Third Reading in the form attached hereto as H.B. No. 3014, H.D.
1, S.D. 1.

                                 Respectfully submitted on behalf
                                 of the members of the Committee
                                 on Ways and Means,



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
a                                                     HB3014 SD1