Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 488 entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of special purpose revenue bonds in an amount not to exceed $15,000,000 to assist Mid-Pacific Institute in financing the construction and improvement of its educational facilities.

Mid-Pacific Institute and the Hawaii Association of Independent Schools testified in support of this measure.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 488 and recommends that it pass Third Reading.