STAND

STAND. COM. REP. NO. 321-06

Honolulu, Hawaii

, 2006

RE: H.B. No. 2626

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2626 entitled:

"A BILL FOR AN ACT RELATING TO STATE BONDS,"

begs leave to report as follows:

The purpose of this bill is to:

(1) Authorize the issuance of general obligation bonds; and

(2) Provide a declaration of findings that issuance of authorized bonds will not cause the debt limit to be exceeded as mandated by the State Constitution.

The Department of Budget and Finance 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 H.B. No. 2626 and recommends that it pass Second Reading and be placed on the calendar for Third Reading.

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

		____________________________ DWIGHT TAKAMINE, Chair