STAND. COM. REP. NO. 1337

Honolulu, Hawaii

RE:    H.B. No. 241

       S.D. 1

Honorable Donna Mercado Kim

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred H.B. No. 241 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 and intent of this measure is to extend, from June 28, 2015, to June 30, 2020, the authorization to issue special purpose revenue bonds to assist Honolulu Seawater Air Conditioning in financing the design and construction of a seawater air conditioning district cooling system on Oahu.   

     Your Committee received written comments in support of this measure from Honolulu Seawater Air Conditioning LLC and Ulupono Initiative. 

     Your Committee finds that extending the authorization of the issuance of special purpose revenue bonds will support the development of a renewable and efficient energy system that utilizes abundant natural resources in place of fuel and electricity.  Your Committee further finds that the extension to authorize and issue special purpose revenue bonds to Honolulu Seawater Air Conditioning is in the public interest. 

     Your Committee has amended this measure by making a technical nonsubstantive amendment for the purpose of style. 

     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 is in accord with the intent and purpose of H.B. No. 241, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 241, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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JILL N. TOKUDA, Chair