STAND. COM. REP. NO. 2614

Honolulu, Hawaii

RE:    S.B. No. 2952

       S.D. 2

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. 2952, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR LE JARDIN ACADEMY,"

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 $25,000,000 to finance the planning, acquisition, construction, improvement, and equipping of the educational facilities of Le Jardin Academy.

     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 children.

     Your Committee has amended this measure by making technical, nonsubstantive amendments for purposes of consistency and clarity.

     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. 2952, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2952, S.D. 2.

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

____________________________

DAVID Y. IGE, Chair