STAND. COM. REP. NO. 107

Honolulu, Hawaii

, 2005

RE: H.B. No. 1412

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committees on Energy & Environmental Protection and Water, Land, & Ocean Resources, to which was referred H.B. No. 1412 entitled:

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

beg leave to report as follows:

The purpose of this bill is to authorize the issuance of special purpose revenue bonds for wastewater treatment plants and private drinking water systems.

The Division of Consumer Advocacy of the Department of Commerce and Consumer Affairs testified in support of this measure. The Department of Budget and Finance (B&F) provided comments.

Your Committees note that B&F stated that the Bond Counsel advised that wastewater treatment plants can be classified as processing enterprises and bonds for this purpose may be issued under Part IV, Chapter 39A, Hawaii Revised Statutes (HRS). Additionally, B&F notes that bonds for private drinking water systems may be issued under either Part IV or V, Chapter 39A, HRS. However, B&F stated specific authorization language would be helpful to clarify the issuance of these types of bonds.

Your Committees have amended this bill by making technical, nonsubstantive amendments for clarity and style.

As affirmed by the records of votes of the members of your Committees on Energy & Environmental Protection and Water, Land, & Ocean Resources that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 1412, as amended herein, and recommend that it pass Second Reading in the form attached hereto as H.B. No. 1412, H.D. 1, and be referred to the Committee on Judiciary.

Respectfully submitted on behalf of the members of the Committees on Energy & Environmental Protection and Water, Land, & Ocean Resources,

 

____________________________

EZRA R. KANOHO, Chair

____________________________

HERMINA MORITA, Chair