STAND. COM. REP. NO.1550
Honolulu, Hawaii
, 2003
RE: H.B. No. 773
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. 773 entitled:
"A BILL FOR AN ACT RELATING TO BONDS,"
begs leave to report as follows:
The purpose of this measure is to authorize the county councils to purchase insurance policies and enter into such other financial arrangements as the county councils determine to be necessary or desirable in order to reduce the cost of borrowing when issuing county revenue bonds.
Your Committee finds that this measure will enable the county councils to minimize the financial risks created by volatile interest rates in the municipal bond market and, consequently, lower the overall cost of county debt.
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. 773, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
____________________________ BRIAN T. TANIGUCHI, Chair |
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