STAND. COM. REP. NO. 3352

Honolulu, Hawaii

RE:    H.B. No. 2059

       H.D. 2

       S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B. No. 2059, H.D. 2, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR KEHALANI OFFSITE RETENTION BASIN,"

begs leave to report as follows:

     The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds to provide financing to assist RCFC Kehalani, LLC, with Kehalani offsite retention basin improvement work.

     Your Committee received written comments in support of this measure from the Department of Land and Natural Resources and the American Society of Civil Engineers.  Your Committee received comments on this measure from the Department of Budget and Finance.

     Your Committee finds that Kehalani offsite retention basin serves as a storm retention basin for the Kehalani subdivision and receives mauka offsite flows in addition to those from the subdivision.  Your Committee further finds that construction on the basin began in 2003 and is still not completed.  Your Committee also finds that due to its location, the basin is classified as a high hazard structure, which is defined as a dam or reservoir whose failure will result in the probable loss of human life.  Accordingly, your Committee finds that this measure will assist the dam owner to bring the facility into compliance with safety standards and reduce the risk of dam failure.

Your Committee finds that Kehalani offsite retention basin constitutes a project as defined in Act 147, Session Laws of Hawaii 2012, and the financing thereof is assistance to dam and reservoir owners.  Your Committee also finds that the issuance of special purpose revenue bonds for the purpose of this measure is in the public interest and for the public health, safety, and general welfare.

     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. 2059, H.D. 2, S.D. 1, and recommends that it pass Third Reading.

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

________________________________

JILL N. TOKUDA, Chair