STAND. COM. REP. NO. 504

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  S.B. No. 717
                                        




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Health and Human Services, to which was
referred S.B. No. 717 entitled: 

     "A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE
     BONDS,"

begs leave to report as follows:

     The purpose of this measure is to authorize special purpose
revenue bonds for the North Hawaii Community Hospital.

     Testimony in support of this measure was received from the
North Hawaii Community Hospital.

     Your Committee finds that this measure will facilitate
refinancing North Hawaii Community Hospital's long term debt at
substantially lower interest rates.  This refinancing shifts cash
from bank payments back to expenditures in the community by as
much as $500,000 per year.

     As affirmed by the record of votes of the members of your
Committee on Health and Human Services that is attached to this
report, your Committee is in accord with the intent and purpose
of S.B. No. 717 and recommends that it pass Second Reading and be
referred to the Committee on Ways and Means.


 
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                                   STAND. COM. REP. NO. 504
                                   Page 2


                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Health and Human
                                   Services,



                                   ______________________________
                                   SUZANNE CHUN OAKLAND, Chair

 
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