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 S.B. No. 3, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds of up to $20,000,000 for North Hawaii Community Hospital, Inc.

Your Committee finds that the law permits special purpose revenue bonds to be issued to assist nonprofit corporations that provide health care facilities to the general public. Your Committee also finds that the activities and facilities of North Hawaii Community Hospital, Inc., constitute a project, and the financing of that project is assistance to a health care facility.

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 S.B. No. 3, S.D. 1, and recommends that it pass Third Reading.