STAND. COM. REP. NO.  211-12

 

Honolulu, Hawaii

                , 2012

 

RE:   H.B. No. 2248

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sir:

 

     Your Committee on Higher Education, to which was referred H.B. No. 2248 entitled:

 

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR HAWAII PACIFIC UNIVERSITY,"

 

begs leave to report as follows:

 

     The purpose of this measure is to support higher education in the State by authorizing the issuance of special purpose revenue bonds to assist Hawaii Pacific University and one or more of its not-for-profit affiliates to finance, refinance, and reimburse costs related to the planning, acquisition, and construction of various capital-related projects.

 

     Hawaii Pacific University supported this measure with amendments.  The Department of Budget and Finance provided comments.

 

     Your Committee has amended this measure by:

 

     (1)  Inserting language to permit Hawaii Pacific University to consolidate small bond issues into a single large transaction with potential multiple-project parties; and

 

     (2)  Making technical, nonsubstative amendments for clarity, consistency, and style.

 

     As affirmed by the record of votes of the members of your Committee on Higher Education that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2248, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2248, H.D. 1, and be referred to the Committee on Finance.

 

Respectfully submitted on behalf of the members of the Committee on Higher Education,

 

 

 

 

____________________________

SCOTT NISHIMOTO, Chair