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• <br /> MR. CADINHA: So the debt limitation you are <br /> referring to is just purely general obligation debt? <br /> MR. MOSS: Yes . <br /> MR. CADINHA: Okay, that clarifies it. Thank <br /> you. <br /> CHAIRMAN SAKATA: I 'd just like to ask the <br /> West Hawaii Committee one question. We talk so much about <br /> district representation. We talk about big business and so <br /> on and I have one question in mind. If you want to get <br /> efficient and let ' s say knowledgable people in government or <br /> running for elective office, do you people think that we <br /> should have a campaign spending law? So that somebody who <br /> doesn ' t have money and finances can run for a certain office <br /> from let ' s say, West Hawaii or East Hawaii . Rather than buck <br /> big business and people with a lot of money? Do you thinkwe <br /> should have a campaign spending law in our elective process\ <br /> here in the county? <br /> MR. MOSS: I 'm no expert on that subject. <br /> However, I do think , in general , I would favor a campaign <br /> spending law. It is very interesting to me that in the last <br /> state election, there was more money spent reelecting the <br /> governor of this state than was spent reelecting the governor <br /> of the State of California. Now, ' the difference in size and <br /> the job and so forth is very different and it looks to me like <br /> there was a lot of money spent here, out of proportion , really.®; <br /> The results might have been very different if there had been a <br /> campaign spending claw. <br /> MR. SCHUTTE : Mr. Moss. You mentioned some- <br /> thing here about property taxes not to exceed 1% of the fair <br /> market value. One question in .regards to that. In your <br /> dealings, how do you expect to deal with the speculation that <br /> exists today that is actually driving up property values? Idle <br /> speculation?) <br /> I 'm speaking about the individual who can <br /> come in and invest in a piece of property. Agricultural ,land. <br /> And sit on it because he is financially able to do so. :Q-�. he <br /> may represent individuals that are able to do so. Andtultim- <br /> azely drive that particular type of land to exceptional heights <br /> ``T value. To the point where it exceeds the fair market value <br /> for anybody wanting to become engaged in agriculture. His <br /> sole intention is to sit on this land until he can get a <br /> variance through, :get a change in zoning or something that he <br /> can turn around and subdivide and cut it `;up. It ' s being done <br /> all over. It ' s being done considerably in Waimea. It has <br /> been done on this island and in this state. What is your <br /> opinion of this sp eculation.' Thsl9 I think , L�,would relate yin. v_ <br /> � <br /> essence back to the property tax burden that everybody ist/..„ ' <br /> concerned with. <br /> MR. MOSS: I 'm afraid I 'm an amateur when it <br /> comes to property speculation . I 've always bought at the <br /> wrong time. I think Frank Zuzar ;?knows a lot more about real <br /> estate and that kind of thing than I do. Maybe he'd like to <br /> comment. I don ' t think I can answer your question, Mr. Schutte. <br /> - 32 - <br />