STAND. COM. REP. NO. 630

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  S.B. No. 1610
                                        




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred S.B.
No. 1610 entitled: 

     "A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL
     PURPOSE REVENUE BONDS FOR NOT-FOR-PROFIT CORPORATIONS THAT
     PROVIDE HEALTH CARE FACILITIES,"

begs leave to report as follows:

     The purpose of this bill is to authorize the issuance of
special purpose revenue bonds to fund the renovation of existing
health care facilities and the establishment of a new health care
facility by Wahiawa General Hospital, Inc.

     Specifically, this measure authorizes the issuance of
$37,000,000 in special purpose revenue bonds to Wahiawa General
Hospital to:

     (1)  Retire the outstanding debt on existing health care
          facilities and capital equipment used in connection
          with those facilities;

     (2)  Plan, design, construct, and operate a new health care
          facility in central Oahu;

     (3)  Acquire and install additional capital equipment for
          use in connection with Wahiawa General Hospital

 
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                                   STAND. COM. REP. NO. 630
                                   Page 2


          facilities and to renovate or repair existing health
          care facilities.

     Your Committee finds that there is a pressing need to
provide affordable, quality health care facilities for Hawaii's
citizens.  This is even more the case in the ever-growing areas
of central Oahu.  By authorizing the issuance of special purpose
revenue bonds for this purpose, the State will be assisting in
providing low cost financing for Wahiawa General Hospital to help
meet this pressing need.

     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.
1610 and recommends that it pass Third Reading.

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



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
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