Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2578 entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of special purpose revenue bonds for Honolulu Seawater Air Conditioning LLC, for the design and construction of a seawater system for a district cooling system in downtown Honolulu.

Honolulu Seawater Air Conditioning LLC, testified in support of the bill. The Board of Water Supply supported the concept of this measure.

Your Committee has amended this bill by:

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 H.B. No. 2578, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2578, H.D. 1, and be placed on the calendar for Third Reading.