STAND. COM. REP. 2638

Honolulu, Hawaii

, 2004

RE: S.B. No. 2469

S.D. 2

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2469, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR HPOWER PLANT BOILER ADDITION,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds for a third boiler at the HPOWER waste-to-energy plant in Honolulu.

Your Committee finds that the HPOWER waste-to-energy plant is one of the most successful public works projects ever completed in the State. HPOWER's two-boiler system, however, cannot handle the demands placed on the system if a boiler is in maintenance or a breakdown occurs.

This bill provides the financing for a third boiler to ensure continuous operation of the HPOWER plant, as well as to increase the plant's capability to accommodate the additional solid waste generated in the community since HPOWER was first designed and put into operation.

Your Committee has amended the bill by changing the refunding date under section 4 of the bill to coincide with the lapsing date under section 5 of the bill.

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. 2469, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2469, S.D. 2.

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

____________________________

BRIAN T. TANIGUCHI, Chair