STAND. COM. REP. 173

Honolulu, Hawaii

, 2003

RE: H.B. No. 1395

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committees on Economic Development and Business Concerns and Tourism and Culture, to which was referred H.B. No. 1395 entitled:

"A BILL FOR AN ACT RELATING TO SPECIAL FACILITY PROJECTS,"

beg leave to report as follows:

The purpose of the bill is to authorize the Hawaii Community Development Authority (HCDA) to issue special facility revenue bonds for the purpose of constructing, furnishing, and equipping an ocean science center in Kakaako by:

(1) Increasing the total amount of special facility revenue bonds that may be issued by the HCDA from $20,000,000 to $40,000,000;

(2) Extending the HCDA's authority to issue special facility revenue bonds to fiscal biennium 2003-2005; and

(3) Amending the definition of "special facility" under section 206E-181, Hawaii Revised Statutes.

The University of Hawaii and HCDA testified in support of the bill.

As affirmed by the records of votes of the members of your Committees on Economic Development and Business Concerns and Tourism and Culture that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 1395 and recommend that it pass Second Reading and be referred to the Committee on Finance.

 

Respectfully submitted on behalf of the members of the Committees on Economic Development and Business Concerns and Tourism and Culture,

 

____________________________

JERRY L. CHANG, Chair

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BRIAN SCHATZ, Chair