Enrolled HB 143: Authorizing the Alaska Industrial Development and Export Authority to issue bonds to finance the infrastructure and construction costs of the Sweetheart Lake hydroelectric project.
00Enrolled HB 143 01 Authorizing the Alaska Industrial Development and Export Authority to issue bonds to 02 finance the infrastructure and construction costs of the Sweetheart Lake hydroelectric project. 03 _______________ 04 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 05 to read: 06 LEGISLATIVE APPROVAL; SWEETHEART LAKE HYDROELECTRIC 07 PROJECT. (a) The Alaska Industrial Development and Export Authority may issue bonds to 08 finance the infrastructure and construction costs of the Sweetheart Lake hydroelectric project. 09 The bonds issued under this section shall be payable exclusively from the revenue derived 10 from the project. The principal amount of the bonds provided by the authority for the 11 Sweetheart Lake hydroelectric project may not exceed $120,000,000 and may include the 12 costs of issuing bonds considered reasonable and appropriate by the authority. 13 (b) The revenue bonds authorized by this section and the interest due on them do not
01 constitute a general obligation of the state or of the authority. 02 (c) The bonds authorized by this section may not be considered in calculating the 03 authority's bonding limitation for a 12-month period under AS 44.88.095(a). 04 * Sec. 2. This Act is repealed June 30, 2020.