Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 382, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to support the development of a health care facility in Central Oahu.

Specifically, this bill will enable the Pacific Women's Center, Inc., to construct a birthing center on Koa Ridge on Oahu by extending the authorization to issue $5,000,000 in special purpose revenue bonds from June 30, 2003, to June 30, 2008, previously authorized by Act 291, Session Laws of Hawaii 1999.

This bill also provides that refunding special purpose revenue bonds may be issued beyond June 30, 2008, and specifies that the refunding of special purpose revenue bonds shall apply to any refunding of authorized special purpose revenue bonds, regardless of whether the special purpose revenue bonds have matured or are the subject of redemption or whether the refunding special purpose revenue bonds are bonds for multi-project programs.

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. 382, H.D. 1, and recommends that it pass Third Reading.