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 S.B. No. 2469, S.D. 2, entitled:

begs leave to report as follows:

The purpose of this bill is to assist Covanta Honolulu Resource Recovery Venture, the operator of the HPOWER plant, in the planning, design, construction, and equipping of a new boiler, pollution control equipment, and associated equipment for the expansion of the HPOWER plant by authorizing the issuance of special purpose bonds up to $93,000,000.

Covanta Energy Group testified in support of this bill. The Department of Health supported the intent 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 S.B. No. 2469, S.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2469, S.D. 2, H.D. 1, and be placed on the calendar for Third Reading.