STAND. COM. REP. NO. 649

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 1206

       S.D. 1

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 1206 entitled:

 

"A BILL FOR AN ACT RELATING TO COUNTIES,"

 

begs leave to report as follows:

 

     The purpose of this measure is to confer upon a county board, in a county with a population of at least five hundred thousand people, the power to issue revenue bonds in its own name, if so authorized under the county charter.

 

     Your Committee finds that this measure will enable the various county boards of water supply to issue revenue bonds, in counties with a population of at least five hundred thousand persons.  Your committee believes that current economic conditions make it necessary to develop additional sources of funds for the acquisition and distribution of potable water.

 

     Your Committee has amended this measure by:

 

     (1)  Clarifying that only a county board of water supply, as opposed to any county board, would be able to issue revenue bonds in its own name;

 

     (2)  Changing the effective date to January 1, 2090, to facilitate further discussion on the measure; and

 

     (3)  Making technical, nonsubstantive amendments.

 

     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. 1206, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1206, S.D. 1.

 

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

 

 

 

____________________________

DONNA MERCADO KIM, Chair