STAND. COM. REP. NO.3199

Honolulu, Hawaii

, 2002

RE: H.B. No. 1976

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1976, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST INDUSTRIAL ENTERPRISES,"

begs leave to report as follows:

The purpose of this measure is to issue special purpose revenue bonds to assist Hawaii Sugar and Transportation Cooperative to purchase the sugar and molasses terminal facility at Nawiliwili, Kauai.

Your Committee finds that sugar continues to thrive on the island of Kauai. Although the days of five sugar plantations on the island are long gone, the sole surviving plantation - Gay and Robinson Inc. continues to market a viable sugar crop. Presently, Gay and Robinson continues to employ three hundred full-time employees and plans to expand its sugar production on 4,300 acres of state-owned land.

To assist Gay and Robinson in their efforts to increase sugar productivity and strengthen its financial stability on Kauai, this bill provides special purpose revenue bonds to Hawaii Sugar and Transportation Cooperative who will in turn, provide Gay and Robinson with marketing services to the mainland and elsewhere, as well as provide affordable transportation services for sugar produced on Kauai.

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. 1976, S.D. 1, and recommends that it pass Third Reading.

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

____________________________

BRIAN T. TANIGUCHI, Chair