REPORT TITLE:
Food Processing Facility


DESCRIPTION:
Authorizes the issuance of special purpose revenue bonds in a
total amount not to exceed $3,500,000 to assist Hawaii Food
Resource Center in planning and building a multi-function food
processing facility on Oahu.  (HB2802 CD1)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        2802
HOUSE OF REPRESENTATIVES                H.B. NO.           S.D. 1
TWENTIETH LEGISLATURE, 2000                                C.D. 1
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR
   PROCESSING ENTERPRISES.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The legislature finds that First Commercial
 
 2 Kitchen, Hawaii's first food processing incubator, has proven to
 
 3 be very successful.  First Commercial Kitchen has helped to
 
 4 develop, produce, market, and distribute over one hundred twenty-
 
 5 five value-added products for approximately fifty clients.  First
 
 6 Commercial Kitchen provides the foundation for the development of
 
 7 the Hawaii Food Resource Center.  The Hawaii Food Resource Center
 
 8 will be a multi-function facility designed for food processing.
 
 9 The facility will utilize the incubator process and other means
 
10 of food preservation, including canning, pasteurization, heat
 
11 sealing, shrink wrapping, repacking, dehydration, baking,
 
12 freezing, refrigeration, frying, smoking, sun drying, and
 
13 irradiation.  The Hawaii Food Resource Center will also provide
 
14 temporary storage, distribution, transshipment, product
 
15 development, and retail/wholesale showcasing.  
 
16      In addition, the Hawaii Food Resource Center will also
 
17 provide business support services for people who are interested
 
18 in entering into the food industry.
 

 
Page 2                                                     2802
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                                                        C.D. 1
                                                        

 
 1      SECTION 2.  Pursuant to part IV, chapter 39A, Hawaii Revised
 
 2 Statutes, the department of budget and finance, with the approval
 
 3 of the governor, is authorized to issue special purpose revenue
 
 4 bonds in a total amount not to exceed $3,500,000, in one or more
 
 5 series, for the purpose of assisting the Hawaii Food Resource
 
 6 Center in planning and building a multi-function food processing
 
 7 facility on Oahu.  
 
 8      The legislature finds and declares that the issuance of
 
 9 special purpose revenue bonds under this Act constitutes a
 
10 processing enterprise project as defined in part IV, chapter 39A,
 
11 Hawaii Revised Statutes, and is in the public interest and
 
12 general welfare of the State.
 
13      SECTION 3.  The department of budget and finance shall
 
14 process applications for special purpose revenue bonds under this
 
15 Act in accordance with the requirements of its "Formal
 
16 Application for Financing of a Processing Enterprise".  The
 
17 department shall report to the legislature twenty days before the
 
18 convening of the regular sessions of 2001 and 2002 regarding any
 
19 progress made with respect to the issuance of the special purpose
 
20 revenue bonds authorized by this Act.
 
21      SECTION 4.  The special purpose revenue bonds issued under
 
22 section 2 of this Act shall be issued pursuant to part IV,
 

 
 
 
Page 3                                                     2802
                                     H.B. NO.           S.D. 1
                                                        C.D. 1
                                                        

 
 1 chapter 39A, Hawaii Revised Statutes, relating to the power to
 
 2 issue special purpose revenue bonds to assist processing
 
 3 enterprises.
 
 4      SECTION 5.  The department of budget and finance is
 
 5 authorized to issue from time to time, refunding special purpose
 
 6 revenue bonds authorized in such principal amounts as the
 
 7 department shall determine to be necessary to refund the special
 
 8 purpose revenue bonds authorized in section 2.
 
 9      SECTION 6.  The authorization to issue special purpose
 
10 revenue bonds under this Act shall lapse on June 30, 2005.
 
11      SECTION 7.  This Act shall take effect upon its approval.