STAND. COM. REP. NO. 1484

Honolulu, Hawaii

, 2005

RE: H.B. No. 1668

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1668 entitled:

"A BILL FOR AN ACT RELATING TO STATE BONDS,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of general obligation bonds.

Your Committee finds that this measure will finance project appropriations contained in acts of the Legislature for which the means of funding are designated as general obligation bond funds or reimbursable general obligation bond funds.

Your Committee finds that in its final form this measure will contain a declaration of findings, as required by the State Constitution, that the total amount of principal and interest will not cause the debt limit to be exceeded at the time of issuance.

Your Committee has amended this measure by making technical nonsubstantive amendments for purposes of style and consistency.

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 H.B. No. 1668, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1668, S.D. 1, and be placed on the calendar for Third Reading.

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

____________________________

BRIAN T. TANIGUCHI, Chair