Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Water and Land Use, to which was referred H.B. No. 537 entitled:

begs leave to report as follows:

The purpose of this bill is to increase the Hawaii Community Development Authority's (HCDA) tax-exempt public facilities revenue bond authorization from $35,000,000 to $150,000,000.

Your Committee received testimony in support of this bill from HCDA.

Your Committee finds that the increased bond authorization will enable public facilities to be funded in the future.

As affirmed by the record of votes of the members of your Committee on Water and Land Use that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 537 and recommends that it pass Second Reading and be referred to the Committee on Finance.