STAND. COM. REP. NO.  754

 

Honolulu, Hawaii

                , 2011

 

RE:   H.B. No. 773

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 773 entitled:

 

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR SAINT LOUIS SCHOOL,"

 

begs leave to report as follows:

 

     The purpose of this bill is to authorize the issuance of special purpose revenue bonds in a total amount not to exceed $30,000,000, for Saint Louis School to finance or refinance the planning, construction, improvement, and equipping of its educational facilities.

 

     Chaminade University, Hawaii Association of Independent Schools, and several individuals testified in support of this bill.  The Mestizo Association testified in opposition to this measure.  A concerned individual submitted comments.

 

     Your Committee has amended this bill by:

 

     (1)  Changing its effective date to July 1, 2030, and deleting the amount of the authorization, to facilitate continued discussion; and

 

     (2)  Making technical, nonsubstantive amendments for clarity and consistency.

 

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 773, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 773, H.D. 1.

 

Respectfully submitted on behalf of the members of the Committee on Finance,

 

 

 

 

____________________________

MARCUS R. OSHIRO, Chair