Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committees on Water, Land, Energy and Environment and Economic Development and Technology, to which was referred S.B. No. 1030 entitled:

beg leave to report as follows:

The purpose of this measure is to allow the Hawaii Community Development Authority to issue special facility revenue bonds for eligible projects, including an ocean science center in the Kakaako community development district.

Your Committees received testimony in support of this measure from the Office of the Governor, Department of Business, Economic Development, and Tourism, Hawaii Community Development Authority, Eye on Makai, and Hawaii Tourism Authority. One individual presented comments.

Your Committees find that the vision for Kakaako makai is a center for cultural, recreational, commercial, educational and research activities, and that a world-class ocean science center would serve as the anchor. Such a center would consolidate the University's ocean research programs, partner with Hawaii's public and private schools, and bring a strong cultural aspect to ocean science.

Your Committees further find the proposed ocean science center is intended to be a nonprofit entity, and to be completely self-supporting and self-sustaining. Your Committees are supportive of the concept of an ocean science center, as well as a nonprofit, multicultural village, which have expressed interest in Kakaako makai. Your Committees have asked to receive the final business plan of the proposed ocean science center.

Your Committees have amended this measure to authorize the Hawaii Community Development Authority to issue refunding special facility revenue bonds for constructing, furnishing, and equipping an ocean science center, to change the bond level authorized to an unspecified amount, and to make technical amendments to conform to preferred drafting style.

As affirmed by the records of votes of the members of your Committees on Water, Land, Energy and Environment and Economic Development and Technology that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 1030, as amended herein, and recommend that it pass Second Reading in the form attached hereto as S.B. No. 1030, S.D. 1, and be referred to the Committee on Ways and Means.