STAND. COM. REP. NO. 2781

Honolulu, Hawaii

RE:    S.B. No. 2939

       S.D. 1

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred S.B. No. 2939, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST ST. FRANCIS HEALTHCARE SYSTEM OF HAWAII,"

begs leave to report as follows:

     The purpose and intent of this measure is to authorize the issuance of $80,000,000 in special purpose revenue bonds to assist St. Francis Healthcare System of Hawaii, a Hawaii nonprofit corporation, to finance the construction, improvement, and acquisition of equipment of its health care facilities.

     Written comments in support of this measure were submitted by the Laborers' Union Local 368.

     Your Committee finds that it is in the public interest and for the public health, safety, and general welfare to assist in the improvement of the health care system for residents of the State.  This measure will allow St. Francis Healthcare System of Hawaii to redesign, upgrade, and renovate buildings, upgrade the courtyard and parking garage, modernize technology and equipment, refinance debt, and finance other related projects.

     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. 2939, 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