CSHB 175(2d FIN): "An Act making an appropriation to the Alaska Energy Authority to secure repayment of bonds for power and intertie projects; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 175(2d FIN) 01 "An Act making an appropriation to the Alaska Energy Authority to secure repayment 02 of bonds for power and intertie projects; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. ALASKA ENERGY AUTHORITY. (a) The unobligated and unencumbered 05 balance of the Railbelt energy fund (AS 37.05.520) on the effective date of this Act is 06 appropriated to the Alaska Energy Authority for investment by the authority to secure 07 repayment of bonds issued by the authority under AS 44.83 for the following power and 08 intertie projects: 09 (1) the sum of $20,300,000 is allocated to upgrade and extend the Anchorage- 10 Fairbanks power transmission intertie to the Teeland substation; 11 (2) to make grants to the recipients named, for the purposes described, and in 12 the amounts set out below: 13 RECIPIENT PURPOSE ALLOCATION 14 Homer Electric Association replacement power supply $ 2,000,000
01 for Seldovia 02 Anchorage Municipal Eklutna project transmission 19,300,000 03 Light and Power line upgrade 04 Golden Valley Electric line extension 872,000 05 Association 06 Matanuska Electric Association line extension 500,000 07 (b) It is the intent of the legislature that, once the bonds described in (a) of this section 08 have been repaid, the Alaska Industrial Development and Export Authority will bring to the 09 legislature a prioritized list of energy projects that can be funded from the revenue stream 10 from the funds appropriated in (a) of this section. 11 * Sec. 2. LAPSE OF APPROPRIATION. The appropriation made by sec. 1(a) of this Act 12 is to capitalize a fund and does not lapse. 13 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).