CSHB 524(FIN): "An Act relating to the issuance of general obligation bonds for the purpose of paying the cost of design, construction, and major maintenance of educational and museum facilities; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 524(FIN) 01 "An Act relating to the issuance of general obligation bonds for the purpose of paying 02 the cost of design, construction, and major maintenance of educational and museum 03 facilities; and providing for an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 06 to read: 07 GENERAL OBLIGATION BONDS. For the purpose of paying the cost of design, 08 construction, and major maintenance of educational and museum facilities, general obligation 09 bonds of the state in the principal amount of not more than $152,914,583, if ratified by a 10 majority of the qualified voters of the state who vote on the question, shall be issued and sold. 11 The full faith, credit, and resources of the state are pledged to the payment of the principal of 12 and interest and redemption premium, if any, on the bonds. The bonds shall be issued under 13 the provisions of AS 37.15 as those provisions read at the time of issuance. 14 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to
01 read: 02 EDUCATIONAL AND MUSEUM FACILITY DESIGN, CONSTRUCTION, AND 03 MAJOR MAINTENANCE FUND. If the issuance of the bonds is ratified by a majority of 04 the qualified voters of the state who vote on the question, a special fund of the state to be 05 known as the "educational and museum facility design, construction, and major maintenance 06 fund" shall be established, to which shall be credited the proceeds of the sale of the bonds 07 described in sec. 1 of this Act except for the accrued interest and premiums. 08 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 09 read: 10 DEPARTMENT OF EDUCATION AND EARLY DEVELOPMENT. The amount of 11 $103,474,583 is appropriated from the educational and museum facility design, construction, 12 and major maintenance fund to the Department of Education and Early Development to be 13 awarded as grants for design, construction, and major maintenance for public schools, subject 14 to reallocation between projects in accordance with AS 37.07.080(e), for the following 15 projects and estimates: 16 MUNICIPALITY OR 17 PROJECT REAA LOCATION AMOUNT 18 (1) Tuluksak School improvement Yupiit $17,703,793 19 (2) Akiak School improvement Yupiit 13,228,730 20 (3) Scammon Bay replacement school Lower Yukon 17,029,762 21 (4) Teller K-12 remodel/addition Bering Strait 9,426,570 22 (5) Service High School renewal, Anchorage 17,000,000 23 Phases 2A, 2B, and 3 24 (6) East High School, Phases 2 - 5 Anchorage 5,400,000 25 (7) Bartlett High School, Phases 2 Anchorage 1,900,000 26 and 3 27 (8) Chugiak High School, Phase 4 Anchorage 3,655,728 28 (9) Central kitchen/operations Fairbanks 9,800,000 29 and maintenance facility 30 (10) Nutrition services facility Matanuska-Susitna 8,330,000 31 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to
01 read: 02 UNIVERSITY OF ALASKA. The amount of $44,440,000 is appropriated from the 03 educational and museum facility design, construction, and major maintenance fund to the 04 University of Alaska for the following design, construction, and major maintenance projects, 05 subject to reallocation between projects in accordance with AS 37.07.080(e): 06 PROJECT LOCATION AMOUNT 07 (1) BioScience class/laboratory, Fairbanks $12,000,000 08 Phase 1 09 (2) Integrated science facility, Anchorage 8,400,000 10 Phase 1 11 (3) Lena Point fisheries laboratory Juneau 9,000,000 12 (4) Prince William Sound building Valdez 1,500,000 13 acquisition 14 (5) Classroom expansion Kenai 850,000 15 (6) Classroom completion Sitka 540,000 16 (7) Classroom addition/land Homer 1,500,000 17 acquisition, Phase 1 18 (8) Biomedical facility addition Anchorage 4,750,000 19 (9) West Ridge research addition Fairbanks 2,000,000 20 (10) Paul/Ziegler classroom Ketchikan 3,900,000 21 renovation 22 * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section to 23 read: 24 DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT. The 25 amount of $5,000,000 is appropriated from the educational and museum facility design, 26 construction, and major maintenance fund to the Department of Community and Economic 27 Development to be awarded as a grant under AS 37.05.315 to the Municipality of Anchorage 28 for renovation of the Anchorage Museum of History and Art. 29 * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section to 30 read: 31 STATE BOND COMMITTEE. If the issuance of the bonds is ratified by a majority
01 of the qualified voters of the state who vote on the question, the amount of $535,201 or as 02 much of that amount as is found necessary is appropriated from the proceeds of the sale of the 03 bonds authorized by this Act to the state bond committee to carry out the provisions of this 04 Act and to pay expenses incident to the sale and issuance of the bonds authorized by this Act. 05 * Sec. 7. The uncodified law of the State of Alaska is amended by adding a new section to 06 read: 07 ADVANCE PLANNING. Any amount withdrawn from the public facility planning 08 fund (AS 35.10.135) for the purpose of advance planning for the capital improvements 09 financed under this Act shall be reimbursed to the fund from the proceeds of the sale of bonds 10 authorized by this Act. 11 * Sec. 8. The uncodified law of the State of Alaska is amended by adding a new section to 12 read: 13 LAPSE; REDEMPTION; REIMBURSEMENT. The unexpended and unobligated 14 balances of the appropriations made in secs. 3 - 5 of this Act lapse under AS 37.25.020 and 15 are appropriated to the state bond committee to redeem bonds sold under this Act. The 16 amounts expended from the general fund to pay the principal, interest, and redemption 17 premium on bonds issued under this Act shall be reimbursed to the general fund from the 18 appropriation made under this section to the extent that the money is not needed to redeem the 19 bonds. 20 * Sec. 9. The uncodified law of the State of Alaska is amended by adding a new section to 21 read: 22 BALLOT QUESTION. The question whether the bonds authorized by this Act are to 23 be issued shall be submitted to the qualified voters of the state at the next general election and 24 shall read substantially as follows: 25 P R O P O S I T I O N 26 State General Obligation Educational and 27 Museum Facility, Design, Construction, 28 and Major Maintenance Bonds $152,914,583 29 Shall the State of Alaska issue its general obligation bonds in 30 the principal amount of not more than $152,914,583 for the 31 purpose of paying for the cost of design, construction, and
01 major maintenance of educational and museum facilities? 02 Bonds Yes [ ] 03 Bonds No [ ] 04 * Sec. 10. This Act takes effect immediately under AS 01.10.070(c).