00SENATE BILL NO. 352                                                                                                   
01 "An Act relating to international airports revenue bonds; and providing for an                                          
02 effective date."                                                                                                        
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  AS 37.15.410 is amended to read:                                                                     
05  Sec. 37.15.410.  Bond authorization.  For the purpose of providing part or all                                      
06 of the money to be used, with or without any grants or other money that may become                                      
07 available, the issuance and sale of revenue bonds of the state in  a  [THE] total principal                           
08 sum [OF] not to exceed  $280,000,000  [$100,825,000] is authorized to acquire, equip,                                 
09 construct, and install the additions, improvements, extensions, and facilities authorized                               
10 in AS 37.15.510.  The principal of and interest on these bonds shall be paid out of and                                 
11 secured by the gross revenue derived by the state from the ownership, lease, use, and                                   
12 operation of the airports, and of all the facilities of them ,  and out of any other                                  
13 [REVENUE OR] money that [THE STATE LEGISLATURE] may  be appropriated                                                   
14 for the purpose  [PROVIDE EXCLUSIVE OF ANY STATE TAX OR LICENSE].                                                      

01    * Sec. 2.  AS 37.15.420 is amended by adding a new subsection to read:                                             
02  (c)  By January 1 of each year, the commissioner of transportation and public                                         
03 facilities shall submit to the legislature an annual spending plan that contains                                        
04 information regarding the planned expenditure of money from the construction fund                                       
05 during the next fiscal year.  The spending plan must include                                                            
06   (1)  the total amount of money to be spent from the construction fund;                                               
07   (2)  a description of the work to be performed on airport facilities that                                            
08 will be financed with money from the construction fund;                                                                 
09   (3)  the amount from the construction fund that will be spent under                                                  
10 contracts with the private sector and a description of the goods or services to be                                      
11 provided to the state under each of the contracts;                                                                      
12   (4)  the amounts that the state will spend from the construction fund for                                            
13 purposes other than contract payments and a description of each of those purposes,                                      
14 including financing costs, administrative and other overhead costs, and contingencies.                                  
15    * Sec. 3.  This Act takes effect immediately under AS 01.10.070(c).