STAND. COM. REP. NO. 1240

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  H.B. No. 877
                                        H.D. 1
                                        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 H.B.
No. 877, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL
     PURPOSE REVENUE BONDS FOR KUAKINI MEDICAL CENTER,"

begs leave to report as follows:

     The purpose of this bill is to authorize the issuance of
special purpose revenue bonds for Kuakini Medical Center to
finance construction of, improvement to, and equipment for its
health care facilities.

     Your Committee finds that Kuakini Medical Center, a not-for-
profit Hawaii corporation, and one or more of its not-for-profit
affiliates, are engaged in the development of a health care
facility and thereby serve the public.  This bill authorizes the
issuance of $30,000,000 in special purpose revenue bonds.  This
bill also authorizes the issuance of additional refunding special
purpose revenue bonds to refund the bonds originally authorized
in the amount of $20,000,000, under Act 16, Session Laws of
Hawaii 1981, First Special Session, as well as the $30,000,000 in
special purpose revenue bonds authorized in this bill.

     Your Committee has made one technical nonsubstantive
amendment to this bill for purposes of clarification.


 
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                                   STAND. COM. REP. NO. 1240
                                   Page 2


     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 H.B. No.
877, H.D. 1, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 877, H.D. 1,
S.D. 1.

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



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
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