STAND. COM. REP. NO. 2913

                                   Honolulu, Hawaii
                                                     , 2000

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




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

Sir:

     Your Committee on Economic Development, to which was
referred H.B. No. 3014, H.D. 1, entitled: 

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

begs leave to report as follows:

     The purpose of this measure is to authorize issuance of
special purpose revenue bonds in a total amount not to exceed
$19,000,000 to assist Rickmar Properties, Inc., with
establishment of a distribution system for chilled water air
conditioning.

     Testimony in favor of this measure was submitted by Rickmar
Properties, Inc.  Life of the Land and one individual made oral
comments.

     Your Committee has heard that nationally, a number of major
cities as well as individual facilities such as schools and
hospitals, have employed similar district cooling systems to
centralize efficient cooling.  Your Committee finds this system
would support the State goal of reducing dependency on imported
oil, and is intended to use brackish water from a well system,
thereby reducing the use of fresh water.

     As affirmed by the record of votes of the members of your
Committee on Economic Development that is attached to this
report, your Committee is in accord with the intent and purpose

 
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                                   STAND. COM. REP. NO. 2913
                                   Page 2


of H.B. No. 3014, H.D. 1, and recommends that it pass Second
Reading and be referred to the Committee on Ways and Means.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Economic
                                   Development,



                                   ______________________________
                                   LORRAINE R. INOUYE, Chair

 
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