STAND. COM. REP. NO. 3405
Honolulu, Hawaii
RE: H.B. No. 2626
S.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-Third State Legislature
Regular Session of 2006
State of Hawaii
Sir:
Your Committee on Ways and Means, 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 measure is to authorize the issuance of general obligation bonds and determine whether the issuance of the bonds will cause the State's debt limit to be exceeded.
Your Committee finds that the:
(1) Measure will finance project appropriations contained in acts of the Legislature for which the means of funding are designated as general obligation bond funds or reimbursable general obligation bond funds; and
(2) Issuance of the bonds authorized will not cause the State's constitutional debt limit to be exceeded.
Your Committee has amended the measure by changing its effective date from upon approval to July 1, 2050, to promote continued discussion.
As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2626, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2626, S.D. 1, and be placed on the calendar for Third Reading.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
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____________________________ BRIAN T. TANIGUCHI, Chair |
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