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SCS HB 352(FIN): "An Act giving notice of and approving a lease-purchase agreement with the City of Palmer for a fire management facility at the Palmer Airport; and providing for an effective date." 

00SENATE CS FOR HOUSE BILL NO. 352(FIN)                                                                                   
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; and providing                                           
03 for an effective date."                                                                                                 
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  NOTICE AND APPROVAL OF LEASE-PURCHASE AGREEMENT.  The                                                  
06 Department of Administration is authorized to enter into a lease-purchase agreement with the                            
07 City of Palmer to enable the City of Palmer to finance and build a Department of Natural                                
08 Resources fire management facility at the Palmer Airport.  The total construction, acquisition,                         
09 or other costs of the project shall be less than $6,000,000.  The annual amount of the rental                           
10 obligation shall be less than $900,000.  The total lease payments for the full term of the                              
11 agreement shall be less than $10,000,000.  The state shall own the facility at the end of the                           
12 lease term.  This section constitutes the notice and approval required by AS 36.30.085.                                 
13    * Sec. 2.  This Act takes effect immediately under AS 01.10.070(c).