Enrolled SB 317: Relating to the purchase by the Alaska Housing Finance Corporation of a parking garage in Anchorage, Alaska and approving the issuance of bonds for the purchase of that parking garage; providing notice of, and authorizing the commissioner of the Department of Administration to enter into, a lease-purchase agreement with the Alaska Housing Finance Corporation for that parking garage; and providing for an effective date.
00Enrolled SB 317 01 Relating to the purchase by the Alaska Housing Finance Corporation of a parking garage in 02 Anchorage, Alaska and approving the issuance of bonds for the purchase of that parking 03 garage; providing notice of, and authorizing the commissioner of the Department of 04 Administration to enter into, a lease-purchase agreement with the Alaska Housing Finance 05 Corporation for that parking garage; and providing for an effective date. 06 _______________ 07 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 08 to read: 09 FINDINGS AND PURPOSE. (a) There is insufficient parking available for the 10 Atwood Office Building in downtown Anchorage, Alaska, and the purchase of a new parking 11 garage to provide parking for the Atwood Office Building would serve a public purpose. 12 (b) The purpose of this Act is to
01 (1) authorize the Alaska Housing Finance Corporation to finance the purchase 02 of a parking garage for the Atwood Office Building; and 03 (2) provide notice of, and authorize the commissioner of administration to 04 enter into, a lease with the Alaska Housing Finance Corporation for that parking garage. 05 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 06 read: 07 LEGISLATIVE AUTHORIZATION FOR PURCHASE AND BONDS. (a) The 08 Alaska Housing Finance Corporation is authorized to finance under AS 18.55.010 - 09 18.55.290, with bond proceeds, the purchase of a parking garage in Anchorage, Alaska, to be 10 leased to the state to provide parking for the Atwood Office Building. The maximum amount 11 of the purchase price of the parking garage may not exceed $44,000,000, including the costs 12 of purchasing the facility and issuing the bonds for the purchase. 13 (b) The Alaska Housing Finance Corporation is authorized to issue bonds under 14 AS 18.55.100(a)(15) and (d) for the purchase of the parking garage described in (a) of this 15 section. The bonds may have a term not to exceed 21 years. 16 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 17 read: 18 LEGISLATIVE NOTICE OF AND AUTHORIZATION FOR LEASE-PURCHASE 19 AGREEMENT. Subject to annual appropriation, the commissioner of administration is 20 authorized to enter into a lease-purchase agreement for the parking garage described in sec. 2 21 of this Act. The anticipated total cost of the project is $44,000,000. The anticipated annual 22 amount of the rental obligation is $3,700,000. The total lease payments for the full term of the 23 lease-purchase agreement is anticipated to be $77,700,000. 24 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to 25 read: 26 APPROVAL OF FINANCING AND AGREEMENT. (a) Section 2 of this Act 27 constitutes the approval for the financing of the public building project described in sec. 2 of 28 this Act required by AS 18.55.100(d). 29 (b) Section 3 of this Act constitutes the notice and approval of the lease-purchase 30 agreement described in sec. 3 of this Act required by AS 36.30.085. 31 * Sec. 5. This Act takes effect immediately under AS 01.10.070(c).