STAND. COM. REP. NO. 859

Honolulu, Hawaii

, 2005

RE: H.B. No. 1555

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1555 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR HUALALAI ACADEMY,"

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of up to $30,000,000 in special purpose revenue bonds to assist Hualalai Academy to finance the planning, acquisition, construction, and improvement of its educational facilities.

Hualalai Academy and the Hawaii Association of Independent Schools testified in support of this measure. The Department of Budget and Finance provided comments.

Your Committee has amended this bill by changing the effective date to July 1, 2010, to encourage further discussion.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1555, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1555, H.D. 1.

Respectfully submitted on behalf of the members of the Committee on Finance,

 

____________________________

DWIGHT TAKAMINE, Chair