STAND. COM. REP. NO. 2258

Honolulu, Hawaii

RE:    S.B. No. 2897

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Madam:

     Your Committee on Education, to which was referred S.B. No. 2897 entitled:

"A BILL FOR AN ACT MAKING APPROPRIATIONS AND AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS AND REVENUE BONDS FOR COCONUT ISLAND IMPROVEMENTS,"

begs leave to report as follows:

     The purpose of this measure is to authorize the issuance of general obligation bonds and make an appropriation for improvements to Coconut Island facilities of the Hawaii Institute of Marine Biology.

     This measure also authorizes the issuance of revenue bonds by the University of Hawaii for the same purpose.

     Testimony in support of the measure was submitted by the University of Hawaii.

     Your Committee finds that the Hawaii Institute of Marine Biology (HIMB) is a research institute of the School of Ocean and Earth Science Technology at the University of Hawaii at Manoa.  The HIMB represents a world-renowned research institute situated on Coconut Island in Kaneohe Bay.  Your Committee believes that continued support for the HIMB is necessary to ensure sustained research opportunities that benefit marine life and ecosystems.

     Accordingly, this measure provides funding, by authorizing the issuance of general obligation and revenue bonds, to support the construction of a modern laboratory and office complex, as well as other improvements to the research, office, and related facilities on Coconut Island.

     As affirmed by the record of votes of the members of your Committee on Education that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2897 and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

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

____________________________

NORMAN SAKAMOTO, Chair