STAND. COM. REP. NO.  971

Honolulu, Hawaii

                , 2007

RE:   H.B. No. 504

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 504 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR LE JARDIN ACADEMY,"

begs leave to report as follows:

     The purpose of this bill is to authorize the issuance of special purpose revenue bonds in a total amount not to exceed $25,000,000, to assist Le Jardin Academy in financing the construction, improvement, and equipping of its educational facilities in the State of Hawaii.

     Le Jardin Academy and the Hawaii Association of Independent Schools 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. 504 and recommends that it pass Third Reading.

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

____________________________

MARCUS R. OSHIRO, Chair