HOUSE OF REPRESENTATIVES

H.B. NO.

1331

TWENTY-EIGHTH LEGISLATURE, 2015

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO the issuance of SPECIAL PURPOSE REVENUE BONDS for assistinG NOT-FOR-PROFIT CORPORATIONS THAT PROVIDE HEALTH CARE FACILITIES TO THE GENERAL PUBLIC.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


PART I

     SECTION 1.  The legislature finds and declares that the issuance of special purpose revenue bonds under this part is in the public interest and for the public health, safety, and general welfare.

     SECTION 2.  Pursuant to part II, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $20,000,000, in one or more series, for the purpose of assisting Paradise Ohana Adolescent Center, Inc., a not-for-profit Hawaii corporation, for plans, design, construction, and operation of a new health care facility.  The legislature hereby finds and determines that health care facility constitutes a project as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a not-for-profit corporation that provides health care facilities to the general public.

PART II

     SECTION 3.  The legislature finds and declares that the issuance of special purpose revenue bonds under this part is in the public interest and for the public health, safety, and general welfare.

     SECTION 4.  Pursuant to part II, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $50,000,000, in one or more series, for the purpose of assisting Paradise Ohana Community Health & Wellness Center, Inc., a not-for-profit Hawaii corporation, for development of a health care facility in West Oahu.  The legislature hereby finds and determines that development of a health care facility in West Oahu, constitutes a project as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a not-for-profit corporation that provides health care facilities to the general public.

PART III

     SECTION 5.  The legislature finds and declares that the issuance of special purpose revenue bonds under this part is in the public interest and for the public health, safety, and general welfare.

     SECTION 6.  Pursuant to part II, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $50,000,000, in one or more series, for the purpose of assisting Paradise Ohana Health Education & Research Center, Inc., a not-for-profit Hawaii corporation, for the development of a health care facility in West Oahu.  The legislature hereby finds and determines that the development of a health care facility in West Oahu constitutes a project as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a not-for-profit corporation that provides health care facilities to the general public.

PART IV

     SECTION 7.  The legislature finds and declares that the issuance of special purpose revenue bonds under this part is in the public interest and for the public health, safety, and general welfare.

     SECTION 8.  Pursuant to part II, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $50,000,000, in one or more series, for the purpose of assisting Paradise Ohana Heart and Vascular Center, Inc., a not-for-profit Hawaii corporation, for the development of a health care facility in West Oahu.  The legislature hereby finds and determines that development of a health care facility in West Oahu constitutes a project as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a not-for-profit corporation that provides health care facilities to the general public.

PART V

     SECTION 9.  The legislature finds and declares that the issuance of special purpose revenue bonds under this part is in the public interest and for the public health, safety, and general welfare.

     SECTION 10.  Pursuant to part II, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $50,000,000, in one or more series, for the purpose of assisting Paradise Ohana Oncology Center, Inc., a Hawaii not-for-profit corporation, for development of a health care facility in West Oahu.  The legislature hereby finds and determines that development of a health care facility in West Oahu constitutes a project as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a not-for-profit corporation that provides health care facilities to the general public.

PART VI

     SECTION 11.  The legislature finds and declares that the issuance of special purpose revenue bonds under this part is in the public interest and for the public health, safety, and general welfare.

     SECTION 12.  Pursuant to part II, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $20,000,000, in one or more series, for the purpose of assisting Paradise Ohana Saging Center, Inc., a not-for-profit Hawaii corporation, for development of a health care facility in West Oahu.  The legislature hereby finds and determines that a not-for-profit Hawaii corporation, for development of a health care facility in West Oahu constitutes a project as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a not-for-profit corporation that provides health care facilities to the general public.

PART VII

     SECTION 13.  The legislature finds and declares that the issuance of special purpose revenue bonds under this part is in the public interest and for the public health, safety, and general welfare.

     SECTION 14.  Pursuant to part II, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $50,000,000, in one or more series, for the purpose of assisting Paradise Ohana Sports Medicine & Research Center, Inc., a not-for-profit Hawaii corporation, for development of a health care facility in West Oahu.  The legislature hereby finds and determines that development of a health care facility in West Oahu constitutes a project as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a not-for-profit corporation that provides health care facilities to the general public.

PART VIII

     SECTION 15.  The legislature finds and declares that the issuance of special purpose revenue bonds under this part is in the public interest and for the public health, safety, and general welfare.

     SECTION 16.  Pursuant to part II, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $50,000,000, in one or more series, for the purpose of assisting Paradise Ohana Community Health & Wellness Center, Inc., a not-for-profit Hawaii corporation, for development of a health care facility in West Oahu.  The legislature hereby finds and determines that development of a health care facility in West Oahu constitutes a project as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a not-for-profit corporation that provides health care facilities to the general public.

PART IX

     SECTION 17.  The legislature finds and declares that the issuance of special purpose revenue bonds under this part is in the public interest and for the public health, safety, and general welfare.

     SECTION 18.  Pursuant to part II, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $20,000,000, in one or more series, for the purpose of assisting Paradise Ohana Women's Center, Inc., a not-for-profit Hawaii corporation, for development of a health care facility in West Oahu.  The legislature hereby finds and determines that development of a health care facility in West Oahu constitutes a project as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to to a not-for-profit corporation that provides health care facilities to the general public.

PART X

     SECTION 19.  The special purpose revenue bonds and the refunding special purpose revenue bonds issued under this Act shall be issued pursuant to part II, chapter 39A, Hawaii Revised Statutes, relating to the power to issue special purpose revenue bonds to assist not-for-profit corporations that provide health care facilities to the general public.

     SECTION 20.  The department of budget and finance is authorized, from time to time, including times subsequent to June 30, 2020, to issue special purpose revenue bonds in whatever principal amounts the department shall determine to be necessary to refund the special purpose revenue bonds authorized in sections 2, 4, 6, 8, 10, 12, 14, 16, and 18 and to refund special purpose revenue bonds authorized in these sections, regardless of whether the outstanding special purpose revenue bonds or refunding special purpose revenue bonds have matured or are the subject of redemption or whether the refunding special purpose revenue bonds shall be bonds for the multi-project programs described in sections 2, 4, 6, 8, 10, 12, 14, 16, and 18.  In making this determination, the department shall comply with federal law relating to the exemption from federal income taxation of the interest on bonds of the nature authorized by these sections.

     SECTION 21.  The authorization to issue special purpose revenue bonds under this Act shall lapse on June 30, 2020.

     SECTION 22.  This Act shall take effect on July 1, 2015.

 

INTRODUCED BY:

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Report Title:

SPRBS; Paradise Ohana

 

Description:

Authorizes the issuance of SPRBS to various Paradise Ohana entities for development of health care facilities in West Oahu.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.