STAND. COM. REP. NO 323

 

Honolulu, Hawaii

                

 

RE:    S.B. No. 4

 

 

 

Honorable Donna Mercado Kim

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Madam:

 

     Your Committee on Higher Education and the Arts, to which was referred S.B. No. 4 entitled:

 

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR CHAMINADE UNIVERSITY OF HONOLULU,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to authorize the issuance of $25,000,000 in special purpose revenue bonds to assist Chaminade University of Honolulu.

 

     Your Committee received testimony in support of this measure from Chaminade University of Honolulu.  Your Committee received comments on this measure from the Department of Budget and Finance.

 

     Your Committee finds that student enrollment has increased steadily at Chaminade University to the current figure of two thousand five hundred students, the majority of whom are financial aid recipients.  Issuance of the special purpose revenue bonds in this measure would enable Chaminade University to expand and enhance competitive programs, renovate aging facilities to attract an increased number of students, and conduct structural renovation of the faculty and administrative offices.

 

     As affirmed by the record of votes of the members of your Committee on Higher Education and the Arts that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 4 and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Higher Education and the Arts,

 

 

 

____________________________

BRIAN T. TANIGUCHI, Chair