STAND. COM. REP. NO. 1133

Honolulu, Hawaii

, 2005

RE: H.B. No. 1555

H.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Education and Military Affairs, to which was referred H.B. No. 1555, H.D. 1, 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 measure is to authorize the issuance of special purpose revenue bonds to assist Hualalai Academy.

Testimony in support of the measure was submitted by Hualalai Academy and Hawaii Association of Independent Schools. The Department of Budget and Finance submitted comments.

Your Committee finds that there is a high demand for a private non-sectarian school in West Hawaii. As Hualalai Academy is currently planning to expand the school to include a twelfth grade, the issuance of $30,000,000 to finance high school facilities would allow them to minimize reliance on monetary contributions from alumni and parents. Article VII, Section 12 and Article X, Section 1 of the Hawaii Constitution allow the State to issue special purpose revenue bonds for private school construction and renovations that benefit the student body and community.

As affirmed by the record of votes of the members of your Committee on Education and Military Affairs that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1555, H.D. 1, 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 Education and Military Affairs,

____________________________

NORMAN SAKAMOTO, Chair