Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 2280 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 Judiciary.

This measure also makes findings and declarations, as required by Article VII, Section 13, of the Constitution of the State of Hawaii, that the total amount of principal and interest, estimated for general obligation bonds and all bonds authorized and unissued and calculated for all bonds issued and outstanding, will not cause the debt limit to be exceeded at the time of issuance.

In the interest of continuing discussion on the measure, your Committee has amended it by inserting an effective date of July 1, 2030.

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. 2280, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2280, S.D. 1, and be placed on the calendar for Third Reading.