txt

SB 179: "An Act relating to the contracting and financing authority of the Alaska Industrial Development and Export Authority; authorizing the authority to issue bonds in a principal amount not to exceed $76,000,000 to finance the acquisition, design, construction, inventory, and operation of natural gas, propane air, or manufactured gas public utility facilities; and providing for an effective date."

00                             SENATE BILL NO. 179                                                                         
01 "An Act relating to the contracting and financing authority of the Alaska Industrial                                    
02 Development and Export Authority; authorizing the authority to issue bonds in a                                         
03 principal amount not to exceed $76,000,000 to finance the acquisition, design,                                          
04 construction, inventory, and operation of natural gas, propane air, or manufactured gas                                 
05 public utility facilities; and providing for an effective date."                                                        
06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
07    * Section 1.  The uncodified law of the State of Alaska is amended by adding a new section                         
08 to read:                                                                                                                
09       BOND APPROVAL.  (a)  Under AS 44.88, the Alaska Industrial Development and                                        
10 Export Authority may issue bonds to finance the acquisition, design, construction, inventory,                           
11 and operation of facilities to provide natural gas, propane air, or manufactured gas public                             
12 utility service under Regulatory Commission of Alaska Certificate of Public Convenience and                             
13 Necessity No. 572 to the unified municipalities of Juneau and Sitka, the boroughs of Haines,                            
01 Ketchikan, Kodiak, and Yakutat, the cities of Angoon, Cordova, Craig, Kake, Klawock,                                    
02 Petersburg, Skagway, Valdez, and Wrangell, and the communities of Klukwan and                                           
03 Metlakatla.  The principal amount of the bonds may not exceed $76,000,000.  Bonds may not                               
04 be issued under this section after July 1, 2006.                                                                        
05       (b)  Subsection (a) of this section grants the legislative approval required by                                   
06 AS 44.88.095(g).                                                                                                        
07    * Sec. 2.  This Act takes effect immediately under AS 01.10.070(c).