Bill Text: HI SB2173 | 2010 | Regular Session | Amended

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Bill Title: General Obligation Bond Declaration

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2010-06-28 - (H) Act 181, on 6/28/2010 (Gov. Msg. No. 403). [SB2173 Detail]

Download: Hawaii-2010-SB2173-Amended.html

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CONFERENCE COMMITTEE REP. NO. 135-10

 

Honolulu, Hawaii

                 , 2010

 

RE:    S.B. No. 2173

       S.D. 1

       H.D. 1

       C.D. 1

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

 

Madam and Sir:

 

     Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 2173, S.D. 1, H.D. 1, entitled:

 

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

 

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

 

     The purpose of this bill is to authorize the issuance of general obligation bonds to finance projects for the executive branch and the judiciary.

 

     Your Committee finds that the total amount of principal and interest estimated for the general obligation bonds authorized under this measure, and for all bonds authorized and unissued and calculated for all bonds issued and outstanding, will not cause the debt limit of the State to be exceeded at the time of issuance.

 

     Article VII, section 13, of the Constitution of the State of Hawaii requires the Legislature to include a declaration of findings in every general law authorizing the issuance of general obligation bonds, which shall declare the issuance of state bonds authorized will not cause the debt limit to be exceeded at the time of issuance.

 

     Your Committee on Conference has amended this bill by:

 

     (1)  Inserting the appropriate amounts provided by the Department of Budget and Finance;

 

     (2)  Updating dates cited in the measure;

 

     (3)  Changing the effective date to "upon approval;" and

 

     (4)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

 

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 2173, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 2173, S.D. 1, H.D. 1, C.D. 1.

 

Respectfully submitted on behalf of the managers:

 

ON THE PART OF THE HOUSE

ON THE PART OF THE SENATE

 

____________________________ MARCUS R. OSHIRO, Chair		____________________________ DONNA MERCADO KIM, Chair
		____________________________ SHAN S. TSUTSUI, Co-Chair