STAND. COM. REP. NO.  307

Honolulu, Hawaii

                , 2015

RE:   H.B. No. 140

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Sir:

     Your Committee on Higher Education, to which was referred H.B. No. 140 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR CHAMINADE UNIVERSITY OF HONOLULU,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds for the purpose of assisting Chaminade University to finance and re-finance the planning, acquisition, construction, improvement, and equipping of its educational facilities.

Chaminade University of Honolulu testified in support of this measure.  The Department of Budget and Finance provided comments.

     Your Committee has amended this measure by changing the effective date to July 1, 2525, and changing the authorized amount to an unspecified amount to encourage further discussion.

     Should the Committee on Finance deliberate this measure further, your Committee on Higher Education respectfully requests that it consider authorizing the issuance of special purpose revenue bonds in a total amount not to exceed $25,000,000 to assist Chaminade University of Honolulu to finance and re-finance the planning, acquisition, construction, improvement, and equipping of its educational facilities.

     As affirmed by the record of votes of the members of your Committee on Higher Education that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 140, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 140, H.D. 1, and be referred to the Committee on Finance.

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

____________________________

ISAAC W. CHOY, Chair