GOVERNOR SIGNS RULES TO SUPPORT CONSTRUCTION OF EARLY CHILDHOOD EDUCATION FACILITIES
For Immediate Release: April 6, 2005
HONOLULU – Governor Linda Lingle has signed new administrative rules to expedite the construction of early childhood education facilities. The rules will allow the state to issue special purpose revenue bonds to assist not-for-profit organizations to construct school campuses or renovate existing facilities. The new rules take effect on April 11.
“Providing for the construction and renovation of safe, secure and well-planned schools for our youngest children is part of our effort to give more children access to affordable preschool during their first five years,” said Governor Lingle. “The new rules will give private, not-for-profit organizations the financial tools they need to expand and enhance early education opportunities for Hawai`i’s growing families.”
To ensure every child is prepared to succeed when he or she enters kindergarten, the Lingle-Aiona Administration earlier this year announced program initiatives and budget proposals to enhance and expand early childhood education initiatives. As part of this effort, the Administration has proposed a series of enhancements to the state’s childcare assistance program. These enhancements will focus on increasing the availability and affordability of childcare options for “gap group” families who do not qualify for free public childcare and are not able to afford the cost of formal preschool care. These programs focus on a child’s first five years, when rapid brain development is critical to future success.
The State Legislature authorizes by a two-third vote the issuance of special purpose revenue bonds for specific non-profit organizations. Special purpose revenue bonds allow certain organizations to obtain financing at low interest rates because the bonds are tax-free. The Hawai`i State Constitution allows the issuance of these bonds for projects that are in the public interest.
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For more information, contact:
Lenny Klompus
Senior Advisor – Communications
Phone: 586-7708
Russell Pang
Chief of Media Relations
Phone: 586-0043
