HB 344: "An Act authorizing a land exchange between the Department of Natural Resources and Alaska Hard Rock, Inc.; and providing for an effective date."
00HOUSE BILL NO. 344 01 "An Act authorizing a land exchange between the Department of Natural 02 Resources and Alaska Hard Rock, Inc.; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. The uncodified law of the State of Alaska is amended by adding a new 05 section to read: 06 PURPOSE. The purpose of this Act is to approve the final agreement for the exchange 07 of land between the State of Alaska, Department of Natural Resources and Alaska Hard Rock, 08 Inc., dated January 26, 2000. The land to be acquired by the state under the agreement is 09 located within or adjacent to the Independence Mine State Historical Park. The appraised fair 10 market value of the land to be exchanged is unequal. AS 38.50.020 requires the submission 11 of a land exchange agreement for legislative review and approval if the agreement involves 12 the exchange of land of other than equal appraised fair market value. The Department of 13 Natural Resources has determined that the value of the land to be received by the state under 14 the agreement exceeds the value of the state land relinquished.
01 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section 02 to read: 03 APPROVAL OF AGREEMENT AND LAND EXCHANGE. The final agreement for 04 the exchange of land between the State of Alaska, Department of Natural Resources and Hard 05 Rock, Inc., dated January 26, 2000, is approved. The approval of the final agreement 06 authorizes the exchange of state-owned land for land owned by Hard Rock, Inc., as specified 07 in the approved final agreement. 08 * Sec. 3. This Act takes effect immediately under AS 01.10.70(c).