Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 1117, S.D. 1, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of special purpose revenue bonds to assist Hawaiian Electric Company, Inc., Maui Electric Company, Limited, and Hawaii Electric Light Company, Inc., with financing capital improvement projects.

The Department of Commerce and Consumer Affairs Division of Consumer Advocacy, Hawaiian Electric Company, Inc., Maui Electric Company, Limited, and Hawaii Electric Light Company, Inc., testified in support of this bill.

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. 1117, S.D. 1, H.D. 1, and recommends that it pass Third Reading.