STAND. COM. REP. NO. 753

Honolulu, Hawaii

RE:    S.B. No. 1214

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred S.B. No. 1214 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 measure is to authorize the issuance of special purpose revenue bonds for Le Jardin Academy.

     Your Committee received comments in support of this measure from the Le Jardin Academy and the Hawaii Association of Independent Schools.

Your Committee finds that this measure will assist Le Jardin Academy with financing and refinancing the construction, improvement, and equipping of its educational facilities.  Le Jardin Academy intends to construct a new administrative building and new classrooms that will include science laboratories to be used by both middle and high school students.  A gymnasium and an arts center will also be constructed to benefit all students in pre-kindergarten through grade twelve.

     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. 1214 and recommends that it pass Third Reading.

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

____________________________

ROSALYN H. BAKER, Chair