STAND. COM. REP. NO.170

Honolulu, Hawaii

, 2003

RE: S.B. No. 343

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Education, to which was referred S.B. No. 343 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR CHAMINADE UNIVERSITY,"

begs leave to report as follows:

The purpose of this measure is to issue special purpose revenue bonds for Chaminade University.

Testimony in support of this measure was received from Chaminade University and the Hawaii Association of Independent Schools.

Your Committee finds that Act 257, Session Laws of Hawaii 2002, authorized the issuance of special purpose revenue bonds to assist not-for-profit private sectarian and nonsectarian elementary schools, secondary schools, colleges, and universities that serve the general public. This measure will provide $10 million for Chaminade University to undertake a variety of campus projects, with priority given to acquire and refinance past acquisitions and to remodel and refurnish student housing.

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. 343

and recommends that it pass Second Reading 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