REPORT TITLE:
Health Care Facilities


DESCRIPTION:
Authorizes the issuance of special purpose revenue bonds to
assist not-for-profit Hawaii corporations that provide health
care facilities.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
THE SENATE                              S.B. NO.           1608
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
________________________________________________________________
________________________________________________________________


                   A  BILL  FOR  AN  ACT

AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR
   NOT-FOR-PROFIT CORPORATIONS THAT PROVIDE HEALTH CARE
   FACILITIES.


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

 1                              PART I.
 
 2      SECTION 1.  The legislature finds and declares that it is in
 
 3 the public interest to encourage the development of health care
 
 4 in the State.  The legislature further finds that Pacific Women's
 
 5 Center, Inc., a not-for-profit Hawaii corporation, is engaged in
 
 6 the development of a health care facility in central Oahu, and
 
 7 thereby serves the public.
 
 8      The legislature further finds that Pacific Women's Center,
 
 9 Inc., is engaged in the planning, design, and construction of a
 
10 patient focused facility.  The Pacific Women's Center would
 
11 consist primarily of a birthing center with postpartum, nursery,
 
12 labor, and delivery services.
 
13      The legislature further finds that Pacific Women's Center,
 
14 Inc., may be assisted through the issuance of special purpose
 
15 revenue bonds because its health care facility is a health care
 
16 project pursuant to part II, chapter 39A, Hawaii Revised
 
17 Statutes.
 
18      The legislature finds and declares that the issuance of
 
19 special purpose revenue bonds under this part is in the public
 

 
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                                     S.B. NO.           1608
                                                        
                                                        

 
 1 interest and for the public health, safety, and general welfare.
 
 2      SECTION 2.  Pursuant to part II, chapter 39A, Hawaii Revised
 
 3 Statutes, the department of budget and finance, with the approval
 
 4 of the governor, is authorized to issue special purpose revenue
 
 5 bonds in a total amount not to exceed $5,000,000, in one or more
 
 6 series, for the purpose of assisting Pacific Women's Center,
 
 7 Inc., a not-for-profit Hawaii corporation, or a Hawaii nonprofit
 
 8 affiliate of the same, with financing one or more of the
 
 9 following:
 
10      (1)  Acquisition or leasing of land for a new facility in
 
11           central Oahu;
 
12      (2)  Planning, design, construction, and operation of a new
 
13           health care facility; and
 
14      (3)  Acquisition and installation of additional capital
 
15           equipment for use in connection with Pacific Women's
 
16           Center, Inc., facilities.
 
17      The legislature finds and determines that the activities and
 
18 facilities of Pacific Women's Center, Inc. and its affiliates
 
19 constitute a health care project as defined in part II, chapter
 
20 39A, Hawaii Revised Statutes, and the financing thereof is of
 
21 assistance to a health care facility.
 
22                             PART II.
 
23      SECTION 3.  The legislature finds and declares that it is in
 

 
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                                     S.B. NO.           1608
                                                        
                                                        

 
 1 the public interest to encourage the development of health care
 
 2 in the State.  The legislature further finds that Pacific Saging
 
 3 Center, Inc., a not-for-profit Hawaii corporation, is engaged in
 
 4 the development of a health care facility in central Oahu, and
 
 5 thereby serves the public.
 
 6      The legislature further finds that Pacific Saging Center,
 
 7 Inc., is engaged in the planning, design, and construction of a
 
 8 patient focused facility.  The development would include such
 
 9 items and activities as:
 
10      (1)  Saging center;
 
11      (2)  Child care;
 
12      (3)  Adult care;
 
13      (4)  Mentoring programs; and
 
14      (5)  Activity centers.
 
15      The legislature further finds that Pacific Saging Center,
 
16 Inc., may be assisted through the issuance of special purpose
 
17 revenue bonds because its health care facility is a health care
 
18 project pursuant to part II, chapter 39A, Hawaii Revised
 
19 Statutes.
 
20      The legislature finds and declares that the issuance of
 
21 special purpose revenue bonds under this part is in the public
 
22 interest and for the public health, safety, and general welfare.
 
23      SECTION 4.  Pursuant to part II, chapter 39A, Hawaii Revised
 

 
Page 4                                                     
                                     S.B. NO.           1608
                                                        
                                                        

 
 1 Statutes, the department of budget and finance, with the approval
 
 2 of the governor, is authorized to issue special purpose revenue
 
 3 bonds in a total amount not to exceed $500,000, in one or more
 
 4 series, for the purpose of assisting Pacific Saging Center, Inc.,
 
 5 a not-for-profit Hawaii corporation, or a Hawaii nonprofit
 
 6 affiliate of the same, with financing one or more of the
 
 7 following:
 
 8      (1)  Acquisition or leasing of land for a new facility;
 
 9      (2)  Planning, design, construction, and operation of a new
 
10           health care facility; and
 
11      (3)  Acquisition and installation of additional capital
 
12           equipment for use in connection with Pacific Saging
 
13           Center, Inc., facilities.
 
14      The legislature finds and determines that the activities and
 
15 facilities of Pacific Saging Center, Inc. and its affiliates
 
16 constitute a health care project as defined in part II, chapter
 
17 39A, Hawaii Revised Statutes, and the financing thereof is of
 
18 assistance to a health care facility.
 
19                             PART III.
 
20      SECTION 5.  The legislature finds and declares that it is in
 
21 the public interest to encourage the development of health care
 
22 in the State.  The legislature further finds that Pacific Sports
 
23 Medicine & Research Center Inc., a not-for-profit Hawaii
 

 
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                                     S.B. NO.           1608
                                                        
                                                        

 
 1 corporation, is engaged in the development of a health care
 
 2 facility in central Oahu, and thereby serves the public.
 
 3      The legislature further finds that Pacific Sports Medicine &
 
 4 Research Center, Inc., is engaged in the planning, design, and
 
 5 construction of a patient focused facility.
 
 6      The legislature further finds that Pacific Sports Medicine &
 
 7 Research Center, Inc., may be assisted through the issuance of
 
 8 special purpose revenue bonds because its health care facility is
 
 9 a health care project pursuant to part II, chapter 39A, Hawaii
 
10 Revised Statutes.
 
11      The legislature finds and declares that the issuance of
 
12 special purpose revenue bonds under this part is in the public
 
13 interest and for the public health, safety, and general welfare.
 
14      SECTION 6.  Pursuant to part II, chapter 39A, Hawaii Revised
 
15 Statutes, the department of budget and finance, with the approval
 
16 of the governor, is authorized to issue special purpose revenue
 
17 bonds in a total amount not to exceed $20,000,000, in one or more
 
18 series, for the purpose of assisting Pacific Sports Medicine &
 
19 Research, Inc., a not-for-profit Hawaii corporation, or a Hawaii
 
20 nonprofit affiliate of the same, with financing one or more of
 
21 the following:
 
22      (1)  Acquisition or leasing of land for a new facility in
 
23           central Oahu;
 

 
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                                     S.B. NO.           1608
                                                        
                                                        

 
 1      (2)  Planning, design, construction, and operation of a new
 
 2           health care facility; or
 
 3      (3)  Acquisition and installation of additional capital
 
 4           equipment for use in connection with Pacific Sports
 
 5           Medicine & Research Center, Inc. facilities.
 
 6      The legislature finds and determines that the activities and
 
 7 facilities of Pacific Sports Medicine & Research Center, Inc. and
 
 8 its affiliates constitute a health care project as defined in
 
 9 part II, chapter 39A, Hawaii Revised Statutes, and the financing
 
10 thereof is of assistance to a health care facility.
 
11                             PART IV.
 
12      SECTION 7.  The legislature finds and declares that it is in
 
13 the public interest to encourage the development of health care
 
14 in the State.  The legislature further finds that Pacific Cardiac
 
15 Institute, Inc., a not-for-profit Hawaii corporation, is engaged
 
16 in the development of a health care facility in central Oahu, and
 
17 thereby serves the public.
 
18      The legislature further finds that Pacific Cardiac
 
19 Institute, Inc., is engaged in the planning, design, and
 
20 construction of a patient-focused facility.
 
21      The legislature further finds that Pacific Cardiac
 
22 Institute, Inc., may be assisted through the issuance of special
 
23 purpose revenue bonds because its health care facility is a
 

 
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                                     S.B. NO.           1608
                                                        
                                                        

 
 1 health care project pursuant to part II, chapter 39A, Hawaii
 
 2 Revised Statutes.
 
 3      The legislature finds and declares that the issuance of
 
 4 special purpose revenue bonds under this part is in the public
 
 5 interest and for the public health, safety, and general welfare.
 
 6      SECTION 8.  Pursuant to part II, chapter 39A, Hawaii Revised
 
 7 Statutes, the department of budget and finance, with the approval
 
 8 of the governor, is authorized to issue special purpose revenue
 
 9 bonds in a total amount not to exceed $15,000,000, in one or more
 
10 series, for the purpose of assisting Pacific Cardiac Institute,
 
11 Inc., a not-for-profit Hawaii corporation, or a Hawaii nonprofit
 
12 affiliate of the same, with financing one or more of the
 
13 following:
 
14      (1)  Acquisition or leasing of land for a new facility in
 
15           central Oahu;
 
16      (2)  Planning, design, construction, and operation of a new
 
17           health care facility; or
 
18      (3)  Acquisition and installation of additional capital
 
19           equipment for use in connection with Pacific Cardiac
 
20           Institute, Inc., facilities.
 
21      The legislature finds and determines that the activities and
 
22 facilities of Pacific Cardiac Institute, Inc., and its affiliates
 
23 constitute a health care project as defined in part II, chapter
 

 
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                                     S.B. NO.           1608
                                                        
                                                        

 
 1 39A, Hawaii Revised Statutes, and the financing thereof is of
 
 2 assistance to a health care facility.
 
 3                              PART V.
 
 4      SECTION 9.  The legislature finds and declares that it is in
 
 5 the public interest to encourage the development of health care
 
 6 in the State.  The legislature further finds that Pacific
 
 7 Wellness Center, Inc., a not-for-profit Hawaii corporation, is
 
 8 engaged in the development of a health care facility in central
 
 9 Oahu, and thereby serves the public.
 
10      The legislature further finds that Pacific Wellness Center,
 
11 Inc., is engaged in the planning, design, and construction of a
 
12 patient focused facility.  The Pacific Wellness Center's health
 
13 focus would be on the Hawaiian healing arts, medicinal plants,
 
14 and also contain an Institute of Acupuncture.
 
15      The legislature further finds that Pacific Wellness Center,
 
16 Inc., may be assisted through the issuance of special purpose
 
17 revenue bonds because its health care facility is a health care
 
18 project pursuant to part II, chapter 39A, Hawaii Revised
 
19 Statutes.
 
20      The legislature finds and declares that the issuance of
 
21 special purpose revenue bonds under this part is in the public
 
22 interest and for the public health, safety, and general welfare.
 
23      SECTION 10.  Pursuant to part II, chapter 39A, Hawaii
 

 
Page 9                                                     
                                     S.B. NO.           1608
                                                        
                                                        

 
 1 Revised Statutes, the department of budget and finance, with the
 
 2 approval of the governor, is authorized to issue special purpose
 
 3 revenue bonds in a total amount not to exceed $5,000,000, in one
 
 4 or more series, for the purpose of assisting Pacific Wellness
 
 5 Center, Inc., a not-for-profit Hawaii corporation, or a Hawaii
 
 6 nonprofit affiliate of the same, with financing one or more of
 
 7 the following:
 
 8      (1)  Acquisition or leasing of land for a new facility in
 
 9           central Oahu;
 
10      (2)  Planning, design, construction, and operation of a new
 
11           health care facility; and
 
12      (3)  Acquisition and installation of additional capital
 
13           equipment for use in connection with Pacific Wellness
 
14           Center, Inc., facilities.
 
15      The legislature finds and determines that the activities and
 
16 facilities of Pacific Wellness Center, Inc., and its affiliates
 
17 constitute a health care project as defined in part II, chapter
 
18 39A, Hawaii Revised Statutes, and the financing thereof is of
 
19 assistance to a health care facility.
 
20                             PART VI.
 
21      SECTION 11.  The special purpose revenue bonds issued under
 
22 this Act shall be issued pursuant to part II, chapter 39A, Hawaii
 
23 Revised Statutes, relating to the authority to issue special
 

 
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                                     S.B. NO.           1608
                                                        
                                                        

 
 1 purpose revenue bonds to assist nonprofit corporations that
 
 2 provide health care facilities to the general public.
 
 3      SECTION 12.  The department of budget and finance is
 
 4 authorized to issue from time to time refunding special purpose
 
 5 revenue bonds in such principal amounts as the department shall
 
 6 determine to be necessary to refund the special purpose revenue
 
 7 bonds authorized in sections 2, 4, 6, 8, and 10.  In making this
 
 8 determination, the department shall comply with federal law
 
 9 relating to the exemption from federal income taxation of the
 
10 interest on bonds of the nature authorized under this section.
 
11      SECTION 13.  The authorization to issue special purpose
 
12 revenue bonds under this Act shall lapse on June 30, 2001.
 
13      SECTION 14.  This Act shall take effect upon its approval.
 
14 
 
15                           INTRODUCED BY:_________________________