STAND. COM. REP. NO. 2872

Honolulu, Hawaii

RE: S.B. No. 2587

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 S.B. No. 2587 entitled:

"A BILL FOR AN ACT RELATING TO EDUCATION,"

begs leave to report as follows:

The purpose of this measure is to authorize the Department of Budget and Finance to issue special purpose revenue bonds in a total amount not to exceed $6,000,000 for the purpose of assisting Kawaiahao School, a Hawaii not-for-profit private elementary school that serves the general public, to finance the planning, construction, and improvement of its educational facilities in the State.

Your Committee amended this measure by:

(1) Adding a section to allow the Department of Budget and Finance to aggregate this project with other similar projects into a single issue of special purpose revenue bonds; and

(2) Making technical nonsubstantive changes for clarity and consistency.

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 S.B. No. 2587, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2587, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

BRIAN T. TANIGUCHI, Chair