STAND. COM. REP. NO. 663

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  S.B. No. 1184
                                        S.D. 1




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

Sir:

     Your Committee on Ways and Means, to which was referred S.B.
No. 1184 entitled: 

     "A BILL FOR AN ACT RELATING TO MANAGEMENT OF FINANCING
     AGREEMENTS FOR THE UNIVERSITY OF HAWAII,"

begs leave to report as follows:

     The purpose of this bill is to authorize the University of
Hawaii to transact financing agreements for principal amounts not
exceeding $3,000,000 without approvals by the Director of Finance
and the Attorney General.

     Your Committee finds that this measure supplements other
recent reforms that increased the fiscal and managerial autonomy
of the university.  Furthermore, your Committee finds that the
ceiling amount placed on the agreements will allow the university
to secure equipment, goods, and services in a timely manner, with
little risk of negative impact to the State's financial reserves.

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

     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 S.B. No.
1184, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as S.B. No. 1184, S.D. 1.

 
a                                                     SB1184 SD1
 
 
                                   STAND. COM. REP. NO. 663
                                   Page 2


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



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
a                                                     SB1184 SD1