Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Third Special Session of 2001

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 14 entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of an additional $100,000,000 in general obligation bonds to finance the construction of the University of Hawaii, West Oahu, and the improvement of existing public school and university facilities.

In addition, this measure:

Your Committee finds that this measure will enable the State to infuse needed money into Hawaii's ailing business sector while taking advantage of low interest rates in the current municipal bond market.

Your Committee received testimony in support of this measure from the Department of Budget and Finance, Department of Accounting and General Services, University of Hawaii and University of Hawaii—West Oahu, Hawaii State Teachers Association, General Contractors Association of Hawaii, Hawaii Building and Construction Trades Council AFL-CIO, Subcontractors Association of Hawaii, Building Industry Association of Hawaii, The Chamber of Commerce of Hawaii, Rotary Club of Kapolei, Hawaiian Waters Adventure Park, Waianae Hawaiian Civic Club, the Principals of Kapolei High School and Kapolei Elementary School, and three individuals.

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 concurs with the intent and purpose of S.B. No. 14 and recommends that it pass Second Reading and be placed on the calendar for Third Reading.