STAND. COM. REP. 1454
Honolulu, Hawaii
, 2003
RE: S.B. No. 426
S.D. 1
H.D. 1
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 S.B. No. 426, S.D. 1, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO ECONOMIC DEVELOPMENT,"
begs leave to report as follows:
The purpose of this bill is to enable the construction, furnishing, and equipping of an ocean science center (center) in Kakaako by:
(1) Extending the authority of the Hawaii Community Development Authority (HCDA) to issue special facility revenue bonds (SFRBs) for the center through the 2003-2005 fiscal biennium; and
(2) Increasing from $20,000,000 to $40,000,000 the amount of SFRBs that HCDA may issue for the center.
The University of Hawaii, HCDA, KUD International, LLC, Victoria Ward, Limited, and Kakaako Improvement Association submitted testimony in support of this bill.
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 S.B. No. 426, S.D. 1, H.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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