00                             HOUSE BILL NO. 97                                                                          
01 "An Act authorizing a long-term lease of certain Alaska Railroad Corporation land at                                    
02 Anchorage; 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 section                         
05 to read:                                                                                                                
06       APPROVAL OF THE LEASE OF LAND AT ANCHORAGE.  (a)  The Alaska                                                      
07 Railroad Corporation is authorized to lease certain corporation land at Anchorage, Alaska,                              
08 within Township 13 North, Range 3 West, Section 8, Seward Meridian, that is the subject of                              
09 Alaska Railroad Contract No. 8371 for a period in excess of 55 years without reserving the                              
10 right to terminate the lease.                                                                                           
11       (b)  This section constitutes legislative approval under AS 42.40.285(4) for the Alaska                           
12 Railroad Corporation to lease the land described in (a) of this section for a period in excess of                       
13 55 years without reserving the right to terminate the lease if the land is needed for railroad                          
14 purposes.                                                                                                               

01    * Sec. 2.  This Act takes effect immediately under AS 01.10.070(c).