STAND. COM. REP. NO. 3234

Honolulu, Hawaii

RE:    H.B. No. 2094

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred H.B. No. 2094 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST HAWAII PACIFIC HEALTH,"

begs leave to report as follows:

     The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist Hawaii Pacific Health with the acquisition or construction of health care facilities.

     Your Committee finds that Hawaii Pacific Health is a nonprofit health care system and the largest health care provider in the State.  Your Committee also finds that Hawaii Pacific Health will use the added capital provided by the special purpose revenue bonds authorized by this measure to refinance an existing bank loan issued to refund tax-exempt bonds to finance renovation of its hospital facilities and purchase medical equipment.

     The written comments may be reviewed on the Legislature's website.

     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 H.B. No. 2094, and recommends that it pass Third Reading.

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

____________________________

DONNA MERCADO KIM, Chair