STAND. COM. REP. NO. 518

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 23

       S.D. 1

 

 

 

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 23 entitled:

 

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST A SEAWATER AIR CONDITIONING PROJECT,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds to Kaiuli Energy, LLC.

 

More specifically, this measure assists with the financing of the planning, design, and construction of a seawater air conditioning district cooling facility and chilled water distribution system proposed by Kaiuli Energy, LLC.

 

     Your Committee received written comments in support of this measure from the High Technology Development Corporation, Makai Ocean Engineering, Inc., Kaiuli Energy, and Ulupono Initiative.

 

     Your Committee received written comments on this measure from the Department of Budget and Finance.

 

     Your Committee finds that Kaiuli Energy, LLC, proposes to build a seawater air conditioning district cooling system to service Waikiki and nearby areas on Oahu using deep cold seawater as a source of cooling.  Your Committee finds that the alternative method for cooling air will decrease energy usage in the serviced areas.  Accordingly, your Committee finds that it is in the State's interest to assist in the financing of the project.

 

     Your Committee has amended this measure by making technical nonsubstantive amendments for clarity, consistency, and style.

 

     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. 23, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 23, S.D. 1.

 

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

 

 

 

____________________________

DAVID Y. IGE, Chair