STAND. COM. REP. 2449

Honolulu, Hawaii

, 2004

RE: S.B. No. 2790

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Education, to which was referred S.B. No. 2790 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR HALEAKALA WALDORF SCHOOL,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds for Haleakala Waldorf School to finance or refinance the planning, acquisition, construction, or improvement of its educational facilities.

Your Committee received testimony in support of the measure from Haleakala Waldorf School and Hawaii Association of Independent Schools. Your Committee received testimony in opposition to the measure from the Hawaii State Teachers Association. Your Committee received comments regarding the measure from the Director of Finance.

Your Committee finds that the issuance of special purpose revenue bonds for this school serves a valuable public purpose by making much-needed educational facilities available to the students of Hawaii.

Your Committee has amended the measure by:

(1) Adding a new section enabling Haleakala Waldorf School to take advantages of economies of scale by consolidating small bond issues into a single large transaction; and

(2) Eliminating references to early childhood education and care facility and care facility as this measure seeks authorization for bond issuance under Part VIII, Chapter 39A, Hawaii Revised Statutes, which does not cover such facilities.

As affirmed by the record of votes of the members of your Committee on Education that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2790, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2790, S.D. 1, and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Education,

____________________________

NORMAN SAKAMOTO, Chair