STAND. COM. REP. NO.3549
RE: H.B. No. 2128
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Your Committee on Ways and Means, to which was referred H.B. No. 2128, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR PROJECTS ON THE ISLAND OF HAWAII,"
begs leave to report as follows:
The purpose of this measure is to modify prior legislation authorizing the issuance of special purpose revenue bonds to Hui `Enekinia.
Specifically, this bill:
(1) Extends the lapse date of the authorization to issue special purpose revenue bonds for Hui `Enekinia Hawai`i from June 30, 2003, to June 30, 2007;
(2) Authorizes the refunding of the special purpose revenue bonds; and
(3) Removes related water production facilities from the scope of the project.
Your Committee finds that the Hui `Enekinia Hawai`i will generate energy by combustion of residential and commercial refuse. By selling the electric energy produced at its cogeneration facilities to the Hawaii Electric Light Company, Inc., Hui `Enekinia will help to meet the energy needs of the Island of Hawaii.
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. 2128, H.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