STAND. COM. REP. NO.2534
RE: S.B. No. 2228
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 S.B. No. 2228, 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 authorize the issuance of up to $2,300,000 in special purpose revenue bonds to assist Gay & Robinson, Inc., a Hawaii corporation, to purchase a sugar and molasses terminal facility at Nawiliwili, Kauai.
Your Committee finds that the sugar and molasses terminal facility at Nawiliwili on the island of Kauai was constructed around 1950, and prior to 1994, provided receiving, storing, and shipping services for both sugar and molasses for all five producers on the island. However, with the demise of four of these operations by 2000, Gay & Robinson, Inc., is the only producer remaining to purchase the terminal facility.
Your Committee further finds that Gay & Robinson, Inc., is committed to the sugar industry and is increasing its investment by farming an additional 4,300 acres of state-owned lands formerly leased to Kekaha Sugar. Gay & Robinson, Inc., now employs over 300 full-time employees, provides subsidized housing for 350 current and retired employees, and intends to hire additional employees.
Your Committee finds that by remaining in business and hiring people during this period of economic instability, Gay & Robinson, Inc., is contributing significantly to the local and state economies, and that authorizing the issuance of special purpose revenue bonds for the purchase of a sugar and molasses terminal facility at Nawiliwili will assist in the economic development of both Kauai and the State.
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 S.B. No. 2228, 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