STAND. COM. REP. NO. 3476

Honolulu, Hawaii

RE:    H.B. No. 2680

       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. 2680, H.D. 2, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR KALOKO RESERVOIR,"

begs leave to report as follows:

     The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds for the financing of various projects at the Kaloko reservoir.

     Your Committee received written comments in support of this measure from the Department of Land and Natural Resources, American Society of Civil Engineers, and Mary Lucas Trust.

     Your Committee received written comments on this measure from the Department of Budget and Finance.

     Your Committee finds that the Kaloko reservoir is an earthen dam that is over one hundred twenty-five years old.  In March 2006, a breach in the dam's embankment caused the death of seven people, destroyed several homes, and devastated the downstream forested area.  Your Committee notes that the dam facility is under a water storage restriction because it does not comply with current safety standards.  Providing financial resources will permit the owners of the Kaloko reservoir to bring the facilities into compliance and reduce the risk of a disaster similar to the March 2006 tragedy.

     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. 2680, 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