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. 485 entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds in an amount not to exceed $5,000,000, to assist Hanahau'oli School in financing the construction and improvement of its educational facilities.

Testimony supporting this measure was submitted by Hanahau'oli School, Hawaii Association of Independent Schools, and the Hawaii Business Roundtable.

Your Committee finds that the special purpose revenue bonds provided by this measure are specifically for the construction of a new building for pre-kindergarten, a shop, an after school care program, and custodial facilities; replacement of the administration building; and acquisition of adjoining property for future expansion. These improvements will allow Hanahau'oli School to better serve the needs of its educational community.

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. 485, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.