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. 384, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to extend the authority of the Department of Budget and Finance to issue special purpose revenue bonds to assist Wahiawa General Hospital or a Hawaii nonprofit affiliate of Wahiawa General Hospital for five additional years, from June 30, 2003, to June 30, 2008.

In addition, this measure clarifies the authority of the Department of Budget and Finance to issue refunding special purpose revenue bonds in order to refund the special purpose revenue bonds issued to assist Wahiawa General Hospital or a Hawaii nonprofit affiliate of Wahiawa General Hospital.

Your Committee has amended this measure by inserting existing statutory material (i.e., the word "authorized" at page 2, line 10) that was inadvertently deleted from the underlying text of section 4.

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. 384, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 384, H.D. 1, S.D. 1.