STAND. COM. REP. NO.  1092

 

Honolulu, Hawaii

                , 2015

 

RE:   S.B. No. 521

      S.D. 1

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Sir:

 

     Your Committee on Water & Land, to which was referred S.B. No. 521, S.D. 1, entitled:

 

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO WAIMEA NUI COMMUNITY DEVELOPMENT CORPORATION,"

 

begs leave to report as follows:

 

     The purpose of this measure is to authorize the issuance of up to $45,000,000 in special purpose revenue bonds to assist Waimea Nui Community Development Corporation and its not-for-profit affiliates to finance, refinance, and reimburse costs related to the planning, acquisition, and construction of its agriculture, renewable energy, and educational facilities.  

 

     The Department of Agriculture, Hawaii Farm Bureau, and two individuals provided testimony in support of the measure.

 

     As affirmed by the record of votes of the members of your Committee on Water & Land that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 521, S.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Finance.

 

 

Respectfully submitted on behalf of the members of the Committee on Water & Land,

 

 

 

 

____________________________

RYAN I. YAMANE, Chair