Enrolled HB 556: Relating to a port development project on Lynn Canal, providing legislative approval for the Alaska Industrial Development and Export Authority to issue bonds for the project; and providing for an effective date.
00Enrolled HB 556 01 Relating to a port development project on Lynn Canal, providing legislative approval for the 02 Alaska Industrial Development and Export Authority to issue bonds for the project; and 03 providing for an effective date. 04 _______________ 05 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 06 to read: 07 LEGISLATIVE APPROVAL; PORT DEVELOPMENT PROJECT. (a) The Alaska 08 Industrial Development and Export Authority may issue bonds to finance the acquisition, 09 development, improvement, and construction of port and related facilities located at Slate 10 Creek Cove and Cascade Point on Lynn Canal in Southeast Alaska. The port and related 11 facilities shall be owned by the authority and financed under AS 44.88.172 - 44.88.177. The 12 principal amount of the bonds provided by the authority for the port development project may 13 not exceed $20,000,000. 14 (b) This section constitutes legislative approval required by AS 44.88.095(g).
01 * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).