REPORT TITLE:
SPRBs; Freeze-Dried Coffee


DESCRIPTION:
Authorizes the issuance of $10,000,000, in SPRBs to assist a
cooperative formed by Hawaii coffee growers with the planning,
design, construction, and equipping of a plant for processing
freeze-dried coffee.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        2923
HOUSE OF REPRESENTATIVES                H.B. NO.           
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO SPECIAL PURPOSE REVENUE BONDS FOR PROCESSING
   ENTERPRISES.



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

 1      SECTION 1.  The legislature finds and declares that the
 
 2 issuance of special purpose revenue bonds under this Act is in
 
 3 the public interest and for the public health, safety, and
 
 4 general welfare of the State.
 
 5      SECTION 2.  Pursuant to part IV, chapter 39A, Hawaii Revised
 
 6 Statutes, the department of budget and finance, with the approval
 
 7 of the governor, is authorized to issue special purpose revenue
 
 8 bonds in a total amount not to exceed $10,000,000, in one or more
 
 9 series, for the purpose of assisting a cooperative formed by
 
10 Hawaii coffee growers with the planning, design, construction,
 
11 and equipping of a plant for processing freeze-dried coffee.
 
12      The legislature finds and determines that the activity and
 
13 facilities of a plant for processing freeze-dried coffee
 
14 constitutes a project as defined in part IV, chapter 39A, Hawaii
 
15 Revised Statutes, and the financing thereof is assistance to a
 
16 processing enterprise.
 
17      SECTION 3.  The special purpose revenue bonds issued under
 
18 this Act shall be issued pursuant to part IV, chapter 39A, Hawaii
 
19 Revised Statutes, relating to the power to issue special purpose
 

 
Page 2                                                     2923
                                     H.B. NO.           
                                                        
                                                        

 
 1 revenue bonds to assist processing enterprises.
 
 2      SECTION 4.  The department of budget and finance is further
 
 3 authorized to issue from time to time refunding special purpose
 
 4 revenue bonds authorized in such principal amounts as the
 
 5 department shall determine to be necessary to refund the special
 
 6 purpose revenue bonds authorized in section 2.
 
 7      SECTION 5.  The authorization to issue special purpose
 
 8 revenue bonds under this Act shall lapse on June 30, 2005.
 
 9      SECTION 6.  This Act shall take effect upon its approval.
 
10 
 
11                           INTRODUCED BY:  _______________________