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SB 226: "An Act relating to the purchase by the Alaska Housing Finance Corporation of an office building in Nome; approving the issuance of bonds for the purchase of the office building; providing notice of, and authorizing the commissioner of administration to enter into, a lease-purchase agreement with the Alaska Housing Finance Corporation for the office building; and providing for an effective date."

00                             SENATE BILL NO. 226                                                                         
01 "An Act relating to the purchase by the Alaska Housing Finance Corporation of an                                        
02 office building in Nome; approving the issuance of bonds for the purchase of the office                                 
03 building; providing notice of, and authorizing the commissioner of administration to                                    
04 enter into, a lease-purchase agreement with the Alaska Housing Finance Corporation                                      
05 for the office building; 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       FINDINGS AND PURPOSE. (a) The Department of Administration has identified a                                       
10 need for office space in Nome, Alaska, for state agency use. The purchase of an office                                  
11 building in Nome to provide space for state agency occupancy and use would serve a public                               
12 purpose.                                                                                                                
13       (b)  The purpose of this Act is to                                                                                
01            (1)  authorize the Alaska Housing Finance Corporation to finance the purchase                                
02 of an office building in Nome to provide space for state agency occupancy and use; 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 the office building                                 
05 authorized in sec. 2 of this Act.                                                                                       
06    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                          
07 read:                                                                                                                   
08       LEGISLATIVE AUTHORIZATION FOR PURCHASE AND BONDS. (a) The                                                         
09 Alaska Housing Finance Corporation may finance under AS 18.55.010 - 18.55.290 with bond                                 
10 proceeds the purchase of an office building in Nome, Alaska, to be leased to the Department                             
11 of Administration to provide space for state agency occupancy and use. The purchase price of                            
12 the office building may not exceed $38,000,000, including the costs of purchasing the office                            
13 building and issuing the bonds for the purchase.                                                                        
14       (b)  The Alaska Housing Finance Corporation may issue bonds under                                                 
15 AS 18.55.100(a)(15) and (d) for the purchase of the office building described in (a) of this                            
16 section. The term of the bonds may not exceed 21 years.                                                                 
17    * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to                          
18 read:                                                                                                                   
19       LEGISLATIVE NOTICE OF AND AUTHORIZATION FOR LEASE-PURCHASE                                                        
20 AGREEMENT. Subject to annual appropriation, the commissioner of administration may                                      
21 enter into a lease-purchase agreement for the office building described in sec. 2 of this Act.                          
22 The anticipated total cost of the project is $38,000,000. The anticipated annual amount of the                          
23 rental obligation is $2,504,000. The total lease payments for the full term of the lease-                               
24 purchase agreement are anticipated to be $52,548,000.                                                                   
25    * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to                          
26 read:                                                                                                                   
27       APPROVAL OF FINANCING AND AGREEMENT. (a) Section 2 of this Act                                                    
28 constitutes the approval required by AS 18.55.100(d) for the financing of the office building                           
29 described in sec. 2 of this Act.                                                                                        
30       (b)  Section 3 of this Act constitutes the notice and approval required by AS 36.30.085                           
31 for the lease-purchase agreement described in sec. 3 of this Act.                                                       
01    * Sec. 5. This Act takes effect immediately under AS 01.10.070(c).