RESOLUTION

WHEREAS, section 171-50, Hawaii Revised Statutes, as amended, requires the Department of Land and Natural Resources of the State of Hawaii to submit twenty days prior to the start of any regular or special session a resolution for review of action taken by the Board of Land and Natural Resources on exchanges of land; and

WHEREAS, pursuant to section 171-50, Hawaii Revised Statutes, exchanges are subject to disapproval by the Legislature by two-thirds vote of either the Senate or the House of Representatives or by majority vote of both chambers in any regular or special session next following the date of exchange; and

WHEREAS, the parcels being conveyed to the State of Hawaii will provide the State with revenue-generating properties in exchange for properties encumbered by long-term leases generating nominal rents; and

WHEREAS, proceeds from the leasing of the parcels to be acquired will be used for public land trust purposes; now, therefore,

BE IT RESOLVED by the House of Representatives of the Twenty-second Legislature of the State of Hawaii, Regular Session of 2003, the Senate concurring, that the following exchange, consummated by the Board of Land and Natural Resources for which exchange deeds have been executed, be reviewed by the Legislature:

Statute: Section 171-50, Hawaii Revised Statutes, as amended.

Purpose: Generation of revenues for public land trust purposes.

Date of Board approval: December 13, 2002.

Location Tax Map Key Area Appraised Value

Oahu

Oahu

Oahu

John Child & Company, pursuant to appraisal report dated September 6, 2001, as updated on December 23, 2002.

Private Land

The Hallstrom Appraisal Group, pursuant to appraisal report dated October 11, 2002.

Report Title:

Land Exchanges; DLNR