Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 2248, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to issue special purpose revenue bonds to assist Poaka, Inc. in planning and constructing a food processing plant for coffee and other agricultural products.

Your Committee finds that the coffee industry in Hawaii recognizes the opportunities for expansion in the area of freeze-dried foods. Prospective buyers of freeze-dried coffee include the United States military, overseas markets, and niche markets such as eco-tourism that rely on portable and durable food products.

This bill assists the coffee industry by providing special purpose revenue bonds to Poaka, Inc. to plan and construct a food processing plant for coffee. The bill also assists other sectors of the agricultural industry that may patronize Poaka, Inc. to freeze-dry taro, papaya, mango, and other tropical fruits.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2248, H.D. 1, and recommends that it pass Third Reading.