Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committees on Water and Land Use and Energy and Environmental Protection, to which was referred S.B. No. 2238, S.D. 1, entitled:

beg leave to report as follows:

The purpose of this measure is to authorize the issuance of $50,000,000 in special purpose revenue bonds for Wailuku River Hydroelectric Power Company, Inc. to assist in establishing nonfossil fuel generating plants and related facilities in Hilo.

The Wailuku River Hydroelectric Power Company, Inc. testified in support of this measure.

As affirmed by the records of votes of the members of your Committees on Water and Land Use and Energy and Environmental Protection that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 2238, S.D. 1, and recommend that it pass Second Reading and be referred to the Committee on Finance.