2004-01-28                     House Journal                      Page 2412
HB 401                                                                                            
HOUSE BILL NO. 401 by the House Rules Committee by request of                                       
the Governor, entitled:                                                                             
                                                                                                    
     "An Act authorizing and relating to the issuance of bonds by the                               
     Alaska Housing Finance Corporation for safe and clean water and                                
     hygienic sewage disposal facility capital projects and other capital                           
     projects; providing for the repayment of the bonds and bond costs;                             
     relating to the dividend paid to the state by the Alaska Housing                               
     Finance Corporation; and providing for an effective date."                                     
                                                                                                    
was read the first time and referred to the Community & Regional                                    
Affairs and Finance Committees.                                                                     
                                                                                                    
The following fiscal note(s) apply:                                                                 
                                                                                                    
1.  Zero, Dept. of Revenue                                                                          
                                                                                                    
The Governor's transmittal letter dated January 22, 2004, follows:                                  
                                                                                                    
"Dear Speaker Kott:                                                                                 
                                                                                                    
Under the authority of article III, section 18, of the Alaska                                       
Constitution, I am transmitting a bill to provide financing for water                               
and sewer projects.  This bill would allow direct financing of projects                             
and provide matching funds required by federal grant programs to                                    
build the projects.  Funds would come from bonds issued by the                                      
Alaska Housing Finance Corporation (AHFC). Repayment of costs of                                    
the bonds by AHFC (including principal and interest), would be offset                               
by a reduction in AHFC's dividend to the state.                                                     
                                                                                                    
The technical and financial support delivered by this bill to Alaska                                
communities will allow them to benefit from the improvement in                                      

2004-01-28                     House Journal                      Page 2413
public health, economic development, and quality of life that follows                               
when adequate water and sewer facilities are built.                                                 
                                                                                                    
I urge your prompt and favorable action on this measure.                                            
                                                                                                    
                                Sincerely yours,                                                    
                                /s/                                                                 
                                Frank H. Murkowski                                                  
                                 Governor"