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. 2322, H.D. 1, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize issuance of special purpose revenue bonds to assist Aloun Farms, a Hawaii corporation, in building an agricultural processing plant.

Your Committee finds that access to agricultural processing facilities is necessary to meet changing industry standards in agricultural marketing and to address potential food safety concerns. The development of an agricultural processing plant by Aloun Farms will enhance the sustainability of its operations.

Your Committee has amended this measure by inserting $1 as the total amount of authorized special purpose revenue bonds.

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. 2322, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2322, H.D. 1, S.D. 2.