00HOUSE BILL NO. 278                                                                                                      
01 "An Act relating to the financing authority of the Alaska Industrial Development                                        
02 and Export Authority and giving approval for the issuance of bonds for port                                             
03 facilities related to a direct reduction iron ore processing facility at Point                                          
04 MacKenzie; and providing for an effective date."                                                                        
05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
06    * Section 1.  The Alaska Industrial Development and Export Authority may issue bonds                                 
07 to finance the acquisition, design, and construction of port facilities related to the development                      
08 and operation of a direct reduction iron ore processing facility located at Point MacKenzie.                            
09 The port facilities are to be owned and operated by the authority.  The principal amount of                             
10 the bonds may not exceed $50,000,000.  This section grants the legislative approval required                            
11 by AS 44.88.095(g).                                                                                                     
12    * Sec. 2.  This Act takes effect immediately under AS 01.10.070(c).