STAND. COM. REP. NO. 1101

Honolulu, Hawaii

RE:    H.B. No. 773

       H.D. 1

       S.D. 1

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B. No. 773, H.D. 1, S.D. 1, 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 and intent of this measure is to support education by authorizing the issuance of special purpose revenue bonds of up to $40,000,000 to finance the planning, construction, improvement, and equipping of educational facilities for Saint Louis School.

     Your Committee received comments in support of this measure from Daniel S. Gilmore, Ed.D., Vice President-Finance and Facilities, Chaminade University of Honolulu; Robert Witt, Executive Director, Hawaii Association of Independent Schools; Walter S. Kirimitsu, President, Saint Louis School; Anthony R. Guerrero, Jr., Chairman-elect of the Board of Trustees, Saint Louis School; and one individual.

     Your Committee finds that the authorization of special purpose revenue bonds under this measure is in the public interest and will promote the education of Hawaii's students.

     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. 773, H.D. 1, S.D. 1, and recommends that it pass Third Reading.

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

____________________________

DAVID Y. IGE, Chair