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. 2842, 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 Kamehameha Schools with agriculture infrastructure improvements, including the construction, repair, and improvement of the Wahiawa reservoir system irrigation facilities.

Kamehameha Schools, the Hawaii Farm Bureau Federation, Hawaii Crop Improvement Association, Pineapple Growers Association of Hawaii, and Meadow Gold Dairies testified in support of this bill. The Agribusiness Development Corporation supported the intent of this measure. The Department of Budget and Finance offered comments.

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. 2842, H.D. 1, and recommends that it pass Third Reading.