1993-02-15                     Senate Journal                      Page 0361
SB 115                                                                       
SENATE BILL NO. 115 by the Senate Rules Committee by request                   
of the Governor, entitled:                                                     
                                                                               
"An Act relating to the use of money in the Alaska                            
debt retirement fund; changing the name of the                                 
Alaska debt retirement fund to the Alaska public                               
schools and public facilities fund; and providing for                          
an effective date."                                                            
                                                                               
was read the first time and referred to the Health, Education and              
Social Services, Judiciary and Finance Committees.                             
                                                                               
Zero fiscal note published today from Department of Revenue.                   
                                                                               
Governor's transmittal letter dated February 15:                               
                                                                               
Dear Mr. President:                                                            
                                                                               
Under the authority of art. III, sec. 18, of the Alaska Constitution,          
I am transmitting a bill changing the statutory provision establishing         
the Alaska debt retirement fund.  This fund was established by the             
legislature in 1991 as a mechanism to ensure a long-term source of             
money for the debt service obligations of the state and local                  
governments, and to strengthen and add to the economy of the state             
(ch. 87, SLA 1991).  The statutory fund currently consists of all              
money appropriated to it.                                                      

1993-02-15                     Senate Journal                      Page 0362
SB 115                                                                       
Section 1 of the bill expands the uses of money in the fund to                 
include maintenance of capital projects.  It also reorders the priorities      
regarding those uses to allow construction projects to be given an             
equal importance with other specified uses.  The bill also changes             
the name of the fund.                                                          
                                                                               
This bill will finance responsible expansion and maintenance of the            
state's infrastructure, including schools, and enhance the viability and       
competitiveness of Alaska's industries.                                        
                                                                               
I urge your support for this bill.                                             
                                                                               
						Sincerely,                                                               
						/s/                                                                      
						Walter J. Hickel                                                         
						Governor