STAND. COM. REP. NO.1240

Honolulu, Hawaii

, 2001

RE: S.B. No. 1262

H.D. 1

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 1262 entitled:

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

begs leave to report as follows:

The purpose of this bill is to:

(1) Increase the amount of special purpose revenue bonds authorized to be issued for the establishment of an expanded chilled water cooling system in Downtown Honolulu; and

(2) Amend the lapsing date for the bond authorization.

The Department of Business, Economic Development, and Tourism and a concerned citizen testified in support of the measure. The Department of Budget and Finance submitted comments.

Your Committee has amended this bill by:

(1) Extending the lapsing date to June 30, 2005; and

(2) Making technical, nonsubstantive amendments for purposes of clarity and style.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1262, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1262, H.D. 1, and be placed on the calendar for Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

DWIGHT Y. TAKAMINE, Chair