STAND. COM. REP. NO. 441

Honolulu, Hawaii

RE: S.B. No. 757

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Education, to which was referred S.B. No. 757 entitled:

"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS TO ASSIST LE JARDIN ACADEMY, INC,"

begs leave to report as follows:

The purpose and intent of this measure is to authorize the issuance of up to $25,000,000 in special purpose revenue bonds to assist Le Jardin Academy.

Your Committee received testimony in opposition to this measure from the Hawaii State Teachers Association. Your Committee received comments on this measure from the Department of Budget and Finance.

Your Committee finds that the authorization of special purpose revenue bonds to schools is in the public's interest and will promote the education of Hawaii's children. This measure will provide Le Jardin Academy with the financial tools for campus development and improvement projects that will benefit not only its students, but the community-at-large as well.

As affirmed by the record of votes of the members of your Committee on Education that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 757 and recommends that it pass Second Reading and be referred to your Committee on Ways and Means.

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

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MICHELLE N. KIDANI, Chair