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. 383, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to extend from June 30, 2003 to June 30, 2008, the authorization to issue special purpose revenue bonds for the benefit of Wahiawa-Central Oahu Health Center, Inc.

Furthermore, this bill permits the refunding of the authorized bonds at any appropriate time, including after the June 30, 2008, lapse date.

Your Committee finds that the Wahiawa-Central Oahu Health Center, Inc. is engaged in the planning, design, and construction of a patient-focused facility on a portion of a two hundred ten acre Koa Ridge parcel of land. Your Committee further finds that Wahiawa-Central Oahu Health Center, Inc. may be assisted through the issuance of special purpose revenue bonds because its health care facility is a health care project pursuant to part II, chapter 39A, Hawaii Revised Statutes.

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