STAND. COM. REP. NO. 2027

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 2172

       S.D. 1

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

 

Madam:

 

     Your Committee on Education and Housing, to which was referred S.B. No. 2172 entitled:

 

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST KAIMUKI CHRISTIAN SCHOOL,"

 

begs leave to report as follows:

 

     The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist Kaimuki Christian School in financing or refinancing the planning, construction, improvement, and equipping of its educational facilities.

 

     Testimony in support of this measure was submitted by two private organizations and twelve individuals.  Written testimony presented to the Committee may be reviewed on the Legislature's website.

 

     Your Committee finds that Kaimuki Christian School has served as an active member of the Kaimuki community for over forty years.  Kaimuki Christian School is growing and has been adding a class per grade level for the past six years.  Many of the facilities on campus were built in 1969, and your Committee finds that this measure provides the financial support the school needs for several campus improvement projects, which are projected to allow the school to increase enrollment by over seventy per cent.

 

     Kaimuki Christian School testified that its campus improvement project will require less funding than originally anticipated.  Your Committee has therefore amended this measure by reducing the maximum amount of special purpose revenue bonds authorized to be issued from $30,000,000 to $20,000,000.

 

     As affirmed by the record of votes of the members of your Committee on Education and Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2172, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2172, S.D. 1, and be referred to the Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Education and Housing,

 

 

 

____________________________

NORMAN SAKAMOTO, Chair