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