STAND. COM. REP. NO.  730-14

Honolulu, Hawaii

                , 2014

RE:   H.B. No. 1951

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 1951, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS TO ASSIST SEAWATER AIR CONDITIONING PROJECTS ON OAHU,"

begs leave to report as follows:

The purpose of this measure is to extend for five additional years the special purpose revenue bond authorization granted under Act 113, Session Laws of Hawaii 2009, to assist Honolulu Seawater Air Conditioning, LLC, with the design and construction of a seawater air conditioning district cooling system in downtown Honolulu.

Honolulu Seawater Air Conditioning, The Chamber of Commerce Hawaii, and Ulupono Initiative testified in support of this measure.  The Department of Budget and Finance commented on this measure.

     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. 1951, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair