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. 582 entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of general obligation bonds to finance projects for the executive branch and the judiciary.

Your Committee finds that the total amount of principal and interest, estimated for the general obligation bonds authorized under this measure, and for all bonds authorized and unissued, and calculated for all bonds issued and outstanding, and all guarantees, will not cause the debt limit of the State to be exceeded at the time of issuance.

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. 582 and recommends that it pass Second Reading and be placed on the calendar for Third Reading.