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. 488 entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special revenue bonds to assist Mid-Pacific Institute in financing and refinancing the planning, acquisition, construction, and improvement of its educational facilities in the State of Hawaii.

Testimony in support of the companion measure, Senate Bill No. 397, was submitted by the Hawaii Association of Independent Schools and Mid-Pacific Institute.

Your Committee finds that Hawaii's private educational institutions play a key role in fulfilling the State's overall commitment to education by providing a viable educational option for children and their families. Your Committee further finds that the assistance provided by this measure for Mid-Pacific Institute is appropriate and is consistent with the State's overall objective of providing a superior education to all of Hawaii's children.

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