SCS CSHB 234(HES): "An Act relating to the tobacco use education and cessation fund and to smoking education and cessation programs; relating to funding the tobacco use education and cessation fund; relating to financing of construction and major maintenance of public school facilities, facilities for the University of Alaska, and facilities for ports and harbors; authorizing the commissioner of revenue to sell the right to receive a portion of the anticipated revenue from a tobacco litigation settlement to the Northern Tobacco Securitization Corporation; relating to the deposit of certain anticipated revenue from a tobacco litigation settlement; authorizing the issuance of bonds by the Northern Tobacco Securitization Corporation with proceeds to finance public school construction and major maintenance, facilities for the University of Alaska, and facilities for ports and harbors; and providing for an effective date."
00 SENATE CS FOR CS FOR HOUSE BILL NO. 234(HES) 01 "An Act relating to the tobacco use education and cessation fund and to smoking 02 education and cessation programs; relating to funding the tobacco use education and 03 cessation fund; relating to financing of construction and major maintenance of public 04 school facilities, facilities for the University of Alaska, and facilities for ports and 05 harbors; authorizing the commissioner of revenue to sell the right to receive a portion of 06 the anticipated revenue from a tobacco litigation settlement to the Northern Tobacco 07 Securitization Corporation; relating to the deposit of certain anticipated revenue from a 08 tobacco litigation settlement; authorizing the issuance of bonds by the Northern 09 Tobacco Securitization Corporation with proceeds to finance public school construction 10 and major maintenance, facilities for the University of Alaska, and facilities for ports 11 and harbors; and providing for an effective date." 12 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
01 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 02 to read: 03 FINDINGS; INTENT. (a) Except for the harbors and docks in Nome and Adak, the 04 facilities described in sec. 4(c)(3) of this Act are currently owned by the state and are in need 05 of substantial investment in capital maintenance and upgrades. The City of Nome is in need 06 of additional money for a capital project at the Nome harbor and dock. The Adak harbor and 07 dock facilities are currently in federal ownership but will pass to Adak interests in the fall of 08 2001. 09 (b) The legislature intends to provide for the required investment, and intends transfer 10 of ultimate ownership of and responsibility for the state-owned harbor facilities to local 11 municipalities. 12 (c) The legislature intends to provide public investment in the Adak harbor and dock 13 facilities under this Act if the ownership of the harbor and dock facilities is ultimately vested 14 in the City of Adak. 15 * Sec. 2. AS 37.05 is amended by adding a new section to read: 16 Sec. 37.05.580. Tobacco use education and cessation fund. (a) There is 17 created as a special account in the general fund the tobacco use education and 18 cessation fund consisting of appropriations made to the tobacco use education and 19 cessation fund. The purpose of the tobacco use education and cessation fund is to 20 provide a source to finance the comprehensive smoking education, tobacco use 21 prevention, and tobacco control program authorized by AS 44.29.020(a)(15). 22 (b) The legislature may make appropriations from the tobacco use education 23 and cessation fund for the comprehensive smoking education, tobacco use prevention, 24 and tobacco control program established under AS 44.29.020(a)(15). 25 (c) Nothing in this section creates a dedicated fund. 26 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 27 read: 28 SALE OF RIGHT TO RECEIVE ANTICIPATED SPECIAL REVENUE. (a) The 29 commissioner of revenue is authorized to sell to the Northern Tobacco Securitization 30 Corporation, a subsidiary corporation of the Alaska Housing Finance Corporation created 31 under AS 18.56.086, the right to receive 40 percent annually of the revenue derived from the
01 settlement of State of Alaska v. Philip Morris, Incorporated, et al, No. 1JU-97-915 CI (Alaska 02 Super. 1997). The sale of the right to receive revenue under this subsection is in addition to 03 the sale of the right to receive revenue under sec. 9, ch. 130, SLA 2000. 04 (b) The proceeds to the state of the sale of the right to receive revenue under (a) of 05 this section are anticipated to be at least $127,529,127. 06 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to 07 read: 08 BOND AUTHORIZATION AND PROVISIONS. (a) The Northern Tobacco 09 Securitization Corporation is authorized to issue revenue bonds in principal amounts 10 sufficient to acquire the right to receive revenue described in sec. 3 of this Act from the 11 commissioner of revenue at a price agreed upon by the Northern Tobacco Securitization 12 Corporation and the commissioner of revenue. The bonds may be special, limited obligations 13 of the Northern Tobacco Securitization Corporation secured solely by the right to receive 14 revenue sold to the Northern Tobacco Securitization Corporation under sec. 3 of this Act, and 15 the Northern Tobacco Securitization Corporation may include in agreements with the 16 bondholders a pledge of the right to receive that revenue and the promise of the state to honor 17 that pledge. A pledge made under this section is subject to the provisions of AS 18.56.120, 18 and bonds issued under this section are subject to the provisions of AS 18.56.170, in each case 19 as though "corporation" in those statutes were to mean the Northern Tobacco Securitization 20 Corporation. 21 (b) Subject to agreements with bondholders and appropriation, the Northern Tobacco 22 Securitization Corporation shall make the proceeds of the bonds issued under (a) of this 23 section available to the 24 (1) Department of Education and Early Development to pay for expenditures 25 described in (c)(1) of this section, including reimbursement to the Department of Education 26 and Early Development for the expenditures; 27 (2) University of Alaska to pay for expenditures described in (c)(2) of this 28 section, including reimbursement to the University of Alaska for the expenditures; and 29 (3) Department of Transportation and Public Facilities to pay for expenditures 30 described in (c)(3) of this section, including reimbursement to the Department of 31 Transportation and Public Facilities for the expenditures.
01 (c) The proceeds of bonds issued under (a) of this section shall be used by the 02 (1) Department of Education and Early Development to pay for construction, 03 renovation, and improvement of public schools as follows: 04 PROJECT 05 Southwest Region - Togiak School Replacement $29,182,163 06 Bering Strait - Golovin School Phase III 9,888,192 07 Petersburg City - Fascia/Soffit Repair and Replacement 116,236 08 Yukon-Koyukuk - Nulato Structural Repairs 314,387 09 Bering Strait - Shishmaref School Roof Replacement/ 8,342,525 10 Renovate, Phase III 11 Iditarod Area - Blackwell School Heating Renovation/ 173,754 12 Site Repair 13 Sitka City Borough - Blatchley Exterior Renovation/Repair 346,500 14 Chatham - Angoon Elementary School Major Maintenance 2,066,257 15 Skagway City - Skagway Major Maintenance 35,598 16 Yupiit - Akiak School Repairs 177,571 17 Pribilof Island - St. George School Remodel 4,513,164 18 Galena - Project Education Food Service Renovation 261,806 19 Southwest Region - Clarks Point School Generator Building 35,989 20 Ketchikan - Schoenbar Renovation 4,891,992 21 Southwest Region - Koliganek School Improvement 451,993 22 Juneau City Borough - Juneau-Douglas High School 9,097,138 23 Renovation/ADA Upgrade 24 Southwest Region - Ekwok, Koliganek, Togiak Schools 122,256 25 Heating System Upgrade 26 Hoonah City - Hoonah Swimming Pool Sprinkler System 220,476 27 Galena - High School Remodel 167,846 28 Kenai Peninsula - McNeil Canyon Replace Septic System 171,500 29 Kake City - Kake High School Renovation Phase II 175,065 30 Chatham - Angoon High School Major Maintenance 1,730,507 31 North Slope Borough - Tikigaq School Renovation 3,675,502
01 Tanana City - Tanana Kitchen Renovation 438,539 02 Wrangell City - Wrangell Elementary Schools Renovation 1,129,238 03 Lower Yukon - Emmonak Mechanical System Upgrade 574,885 04 Lower Yukon - Alakanuk Mechanical System Upgrade 899,740 05 Iditarod Area - Takotna Community School Water Project 192,374 06 Anchorage - Service High School Phase I Renovation 750,934 07 __________ 08 TOTAL $80,144,127 09 (2) University of Alaska to pay for construction and renovation of university 10 facilities as follows: 11 PROJECT 12 University of Alaska - Southeast 13 Egan Classroom $ 2,000,000 14 Robertson/Hamilton Technical Education Complex Remodel 1,500,000 15 Matanuska-Susitna Ortner Warehouse Replacement 654,000 16 University of Alaska - Fairbanks 17 Museum Expansion 8,000,000 18 __________ 19 TOTAL $ 12,154,000 20 (3) Department of Transportation and Public Facilities to pay for construction 21 and renovation of port and harbor facilities as follows: 22 PROJECT 23 Whittier - Whittier Small Boat Harbor $ 2,449,000 24 Valdez - Valdez Small Boat Harbor 3,212,000 25 Seldovia - Seldovia Small Boat Harbor 2,628,000 26 Petersburg - North Harbor, Middle Harbor, South Harbor 3,729,000 27 Ketchikan - Thomas Basin, Ryus Float, Bar Harbor South, 7,876,000 28 Bar Harbor North, Hole-in-the-Wall Harbor, Knudson 29 Cove Harbor 30 Sitka - Thomsen Harbor, Crescent Harbor, Sealing 4,469,000 31 Cove Harbor
01 Cordova - Cordova Harbor 4,876,000 02 Wrangell - Standard Harbor, Reliance Harbor, Inner 3,492,000 03 Harbor Fish and Game Dock, Shoemaker Harbor 04 Nome - Nome Harbor and Dock 2,000,000 05 Adak - Adak Boat Harbor 500,000 06 ___________ 07 TOTAL $ 35,231,000 08 (d) In this section, "Northern Tobacco Securitization Corporation" means the 09 subsidiary corporation of the Alaska Housing Finance Corporation created under 10 AS 18.56.086. 11 * Sec. 5. Section 1(b), ch. 130, SLA 2000, is repealed. 12 * Sec. 6. This Act takes effect July 1, 2001.