STAND. COM. REP. NO.  730

Honolulu, Hawaii

                , 2009

RE:   H.B. No. 34

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 34 entitled:

"A BILL FOR AN ACT RELATING TO STATE BONDS,"

begs leave to report as follows:

     The purpose of this bill is to:

(1)  Authorize the issuance of general obligation bonds; and

(2)  Determine whether the issuance of these general obligation bonds will cause the State's debt limit to be exceeded.

     The Department of Budget and Finance supported this bill.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 34 and recommends that it pass Second Reading and be placed on the calendar for Third Reading.

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

____________________________

MARCUS R. OSHIRO, Chair