Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Energy and Environmental Protection, to which was referred H.B. No. 2045 entitled:

begs leave to report as follows:

The purpose of this bill is to authorize county-established corporations or boards that own or operate an electricity producing facility to issue revenue bonds.

Your Committee received favorable testimony from Kauai County Mayor's Office. Comments on the bill were also received from a local attorney.

Your Committee finds that this bill is one of three bills that collectively would allow the counties to pursue alternative choices in acquiring public ownership of utility companies. Although there are additional steps to be taken before such ownership is possible, these bills represent a major step in that direction.

Your Committee has amended the bill by qualifying the type of county corporation that may issue revenue bonds as those that are established by "ordinance, resolution, or charter."

As affirmed by the record of votes of the members of your Committee on Energy and Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2045, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2045, H.D. 1, and be referred to the Committee on Finance.