STAND. COM. REP. NO.  84

 

Honolulu, Hawaii

                , 2015

 

RE:   H.B. No. 608

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Sir:

 

     Your Committee on Agriculture, to which was referred H.B. No. 608 entitled:

 

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO WAIMEA NUI COMMUNITY DEVELOPMENT CORPORATION,"

 

begs leave to report as follows:

 

     The purpose of this measure is to authorize the issuance of up to $45,000,000 in special purpose revenue bonds to assist Waimea Nui Community Development Corporation and its not-for-profit affiliates to finance, refinance, and reimburse costs related to the planning, acquisition, and construction of its agriculture, renewable energy, and educational facilities.

 

     The Department of Agriculture, the member of the Hawaii County Council District 9, Waimea Nui Community Development Corporation, Hawaii Farm Bureau Federation, and several concerned individuals supported this bill.  The Department of Budget and Finance commented on this measure.

 

     Your Committee finds that this bill does not identify the applicable Part of Chapter 39A, Hawaii Revised Statutes, relating to special purpose revenue bonds, under which the bonds to assist Waimea Nui Community Development Corporation may be authorized and issued.  Should the Committee on Finance further deliberate on this bill, your Committee on Agriculture respectfully requests that they consider and determine the appropriate Part of Chapter 39A, Hawaii Revised Statutes, under which the requested special purpose revenue bonds may be authorized and issued.

 

     As affirmed by the record of votes of the members of your Committee on Agriculture that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 608 and recommends that it pass Second Reading and be referred to the Committee on Water & Land.

 

 

Respectfully submitted on behalf of the members of the Committee on Agriculture,

 

 

 

 

____________________________

CLIFT TSUJI, Chair