00HOUSE BILL NO. 352                                                                                                      
01 "An Act giving notice of and approving a lease-purchase agreement with the City                                         
02 of Palmer for a fire management facility at the Palmer Airport."                                                        
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  NOTICE AND APPROVAL OF LEASE-PURCHASE AGREEMENT.  The                                                  
05 Department of Administration is authorized to enter into a lease-purchase agreement with the                            
06 City of Palmer to enable the City of Palmer to finance and build a Department of Natural                                
07 Resources fire management facility at the Palmer Airport.  The total construction, acquisition,                         
08 or other costs of the project shall be less than $6,000,000.  The annual amount of the rental                           
09 obligation shall be less than $1,300,000.  The total lease payments for the full term of the                            
10 agreement shall be less than $10,000,000.  The state shall own the facility at the end of the                           
11 lease term.  This section constitutes the notice and approval required by AS 36.30.085.