STAND. COM. REP. NO.  89

Honolulu, Hawaii

                , 2011

RE:   H.B. No. 773

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sir:

     Your Committee on Education, to which was referred H.B. No. 773 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR SAINT LOUIS SCHOOL,"

begs leave to report as follows:

     The purpose of this bill is to assist Saint Louis School, a Hawaii not-for-profit corporation, with the financing or refinancing of planning, construction, and improvement projects by authorizing $30,000,000 in special purpose revenue bonds.

     The Hawaii Association of Independent Schools and several concerned individuals supported this bill.  Saint Louis School supported this measure with amendments.

     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 H.B. No. 773 and recommends that it pass Second Reading and be referred to the Committee on Finance.

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

____________________________

ROY TAKUMI, Chair