STAND. COM. REP. NO. 682-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 3014
                                     H.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
3014, H.D. 1, entitled: 

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

begs leave to report as follows:

     The purpose of this bill is to promote energy conservation
by encouraging the development of local district cooling
facilities to make chilled water available to connected buildings
for use in the provision of air conditioning to those buildings. 

     Specifically, this bill authorizes the issuance of special
purpose revenue bonds, up to $19,000,000, for use in:

     (1)  Establishing a distribution system through which
          chilled water produced at a cooling facility can be
          transported to buildings using this cooling system; and

     (2)  Financing the planning, design, and construction of
          other related aspects of a cold water cooling system.

     Rickmar Properties testified in support of this bill.

     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.
3014, H.D. 1, and recommends that it pass Second Reading and be
placed on the calendar for Third Reading.

 
 
                                 STAND. COM. REP. NO. 682-00
                                 Page 2

 

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair