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. 3136, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds for Saint Louis School.

Your Committee finds that this measure will allow the school to make substantial infrastructure improvements that will benefit its student body and the community at large. The bonds will allow the school to fund campus projects while minimizing its reliance on the monetary contributions of its alumni, parents, friends, and other financial alternatives.

Your Committee has amended this measure by:

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. 3136, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 3136, S.D. 2.