Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Education, to which was referred H.B. No. 1564 entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds for Chaminade University.

Testimony in support of this measure was received from Chaminade University, a Chaminade University faculty member, and the Hawaii Association of Independent Schools.

Your Committee finds the Hawaii State Constitution was amended to allow for the issuance of special purpose revenue bonds to assist not-for-profit private sectarian and nonsectarian elementary schools, secondary schools, colleges, and universities that serve the general public. Accordingly, this measure will allow for the issuance of revenue bonds to provide $10 million for Chaminade University to undertake a variety of campus projects, with priority given to remodel and refurnish student housing and to renovate classrooms and laboratories used to teach mathematics and the natural sciences.

As affirmed by the record of votes of the members of your Committee on Education that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1564, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.