CONFERENCE COMMITTEE REPORT NO. 137

                            Honolulu, Hawaii
                                            , 2000

                            RE:   H.B. No. 3014
                                  H.D. 1
                                  S.D. 1
                                  C.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Conference on the disagreeing vote of the
House of Representatives to the amendments proposed by the Senate
in H.B. No. 3014, H.D. 1, S.D. 1, entitled:

    "A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE
    BONDS,"

having met, and after full and free discussion, has agreed to
recommend and does recommend to the respective Houses the final
passage of this bill in an amended form.

     The purpose of this bill is to authorize the issuance of
special purpose revenue bonds, in an amount not to exceed
$19,000,000, to assist Rickmar Properties, Inc. in establishing a
distribution system for air conditioning of buildings utilizing
water chilled at a cooling facility.

     Your Committee on Conference finds and declares that the
issuance of special purpose revenue bonds under this bill
constitutes an industrial enterprise defined in part V, chapter
39A, Hawaii Revised Statutes, and is in the public interest.


 
 
                            CONFERENCE COMMITTEE REPORT NO. 137
                            Page 2



     Your Committee on Conference has amended this bill by:

     (1) Requiring that the Department of Budget and Finance
         report to the legislature regarding any "status" made
         with respect to the issuance of the special revenue
         bonds as opposed to any "progress"; and
     
     (2) Making technical, nonsubstantive changes for purposes of
         clarity.

     As affirmed by the record of votes of the managers of your
Committee on Conference that is attached to this report, your
Committee on Conference is in accord with the intent and purpose
of H.B. No. 3014, H.D. 1, S.D. 1, as amended herein, and
recommends that it pass Final Reading in the form attached hereto
as H.B. No. 3014, H.D. 1, S.D. 1, C.D. 1.

                                   Respectfully submitted on
                                   behalf of the managers:

  ON THE PART OF THE SENATE          ON THE PART OF THE HOUSE
                                   
                                   
                                   
                                   
______________________________     ______________________________
LORRAINE R. INOUYE, Co-Chair       DWIGHT Y. TAKAMINE, Chair




______________________________
JONATHAN CHUN, Co-Chair