STAND. COM. REP. NO. 1242

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  H.B. No. 971
                                        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. 971, H.D. 1, S.D. 1, entitled: 

     "A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL
     PURPOSE REVENUE BONDS FOR NOT-FOR-PROFIT CORPORATIONS THAT
     PROVIDE HEALTH CARE FACILITIES,"

begs leave to report as follows:

     The purpose of this bill is to authorize the issuance of
special purpose revenue bonds for Wahiawa General Hospital, Inc.,
or its affiliate.

     Your Committee finds that Wahiawa General Hospital is a not-
for-profit Hawaii corporation engaged in the development of a
health care facility which would serve the health needs of people
in the Wahiawa area.  Your Committee further finds that the
activities and facilities of Wahiawa General Hospital constitute
a health care project under part II, chapter 39A, Hawaii Revised
Statutes, relating to special purpose revenue bonds, and the
financing thereof is in the public interest.

     The bonds issued under this bill would be used to retire
outstanding debt on existing facilities or capital equipment,
acquire or lease land, build a new facility, acquire and install
capital equipment, or renovate or repair existing facilities.

 
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                                   STAND. COM. REP. NO. 1242
                                   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. 971, H.D. 1, S.D. 1, and recommends that it pass Third
Reading.

                                 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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