00                              HOUSE BILL NO. 51                                                                          
01 "An Act giving notice of and approving the entry into, and the issuance of certificates of                              
02 participation for, a lease-purchase agreement for a seafood and food safety laboratory                                  
03 facility; and providing for an effective date."                                                                         
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  The uncodified law of the State of Alaska is amended by adding a new section                         
06 to read:                                                                                                              
07       NOTICE AND APPROVAL OF THE ENTRY INTO AND FINANCING OF A                                                          
08 LEASE-PURCHASE AGREEMENT.  The state bond committee is authorized to provide for                                        
09 the issuance of certificates of participation for, and the Department of Administration is                              
10 authorized to enter into, a lease-purchase agreement for a seafood and food safety laboratory                           
11 facility to be constructed under the lease-purchase agreement and to be operated by the                                 
12 Department of Environmental Conservation.  The anticipated total construction, acquisition,                             
13 and other costs of the project are not to exceed $13,655,000.  The total anticipated annual                             
14 amount of the rental obligation is $1,220,000.  The total anticipated lease payments for the                            
01 full term of the lease-purchase agreement amount to $24,440,000.  The state shall own the                               
02 facility at the end of the lease term.  This section constitutes the notice and approval required                       
03 by AS 36.30.085.                                                                                                        
04    * Sec. 2.  This Act takes effect July 1, 2001.