1994-02-11                     Senate Journal                      Page 2797
SB 304                                                                       
SENATE BILL NO. 304 BY THE SENATE RULES COMMITTEE                              
BY REQUEST OF THE GOVERNOR, entitled:                                          
                                                                               
"An Act authorizing the issuance of bonds by the                              
Alaska Housing Finance Corporation to pay for the                              
costs of repair and rehabilitation of student housing                          
facilities of the University of Alaska; authorizing the                        
issuance of bonds by the University of Alaska to                               
pay for the costs of repair and rehabilitation of                              
facilities of the University of Alaska; amending                               
powers of the Alaska Housing Finance Corporation;                              
amending the definition of "public building";                                  
relating to the Alaska debt retirement fund; and                               
providing for an effective date."                                              
                                                                               
was read the first time and referred to the Health, Education and              
Social Services, State Affairs and Finance Committees.                         
                                                                               
Zero fiscal notes from Office of the Governor and Department of                
Revenue published today.                                                       
                                                                               
Governor's transmittal letter dated February 11:                               
                                                                               
Dear Mr. President:                                                            
                                                                               
Under the authority of art. III, sec. 18, of the Alaska Constitution,          
I am transmitting a bill authorizing the issuance of Alaska Housing            
Finance Corporation and University of Alaska bonds for repair and              
rehabilitation of university facilities.                                       
                                                                               
This legislation will provide funding to partially meet the university         
facilities' deferred maintenance needs throughout the state.  The              
Legislature's approval of my bill last session creating the educational        
facilities maintenance and construction fund was a start in stepping           
up to our responsibilities in investing in the state's existing                
infrastructure.  But it was only a start.  We now have the                     
responsibility to continue to meet the university's critical needs.            
                                                                               
The bill I am proposing authorizes the Alaska Housing Finance                  
Corporation to issue $30 million in bonds for student housing repair           
and rehabilitation, and authorizes the University of Alaska to issue