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CSSB 226(FIN): "An Act relating to the purchase by the Alaska Housing Finance Corporation of an office building in Nome from the City of Nome; approving the issuance of bonds for the purchase of the office building; providing notice of, and directing 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                       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                          
08 read:                                                                                                                   
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                          
19 read:                                                                                                                   
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                                  
27 Act.                                                                                                                    
28    * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to                          
29 read:                                                                                                                   
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).