2006-05-22                     House Journal                      Page 4067
HB 381                                                                                            
The following letter, dated May 22, 2006, was received:                                             
                                                                                                    
"Dear Speaker Harris:                                                                               
                                                                                                    
On this date I have signed the following bill passed by the second                                  
session of the Twenty-Fourth Alaska State Legislature and am                                        
transmitting the engrossed and enrolled copies to the Lieutenant                                    
Governor's Office for permanent filing:                                                             
                                                                                                    
              SENATE CS FOR CS FOR HOUSE BILL NO. 381(FIN) am S                                    
     "An Act relating to the financing of construction, major                                       
     maintenance, and renovation of certain capital projects;                                       
     authorizing the commissioner of revenue to sell the right to                                   
     receive a portion of the anticipated revenue from a tobacco                                    
     litigation settlement to the Northern Tobacco Securitization                                   
     Corporation, and relating to that sale and the use of the revenue;                             
     authorizing the Northern Tobacco Securitization Corporation to                                 

2006-05-22                     House Journal                      Page 4068
     issue bonds and use the proceeds to acquire the right to receive a                             
     portion of anticipated revenue from a tobacco litigation settlement                            
     and for other purposes, and relating to those bonds; and providing                             
     for an effective date."                                                                        
                                                                                                    
     Chapter No. 35, SLA 2006                                                                       
     [Effective Date:  July 1, 2006]                                                                
                                                                                                    
Passage of this legislation enables the state to refinance existing                                 
tobacco bonds and further leverage payment from the tobacco Master                                  
Settlement Agreement that was reached in 1998.  This revenue will                                   
fund a number of important capital projects-from $94 million for the                                
University of Alaska to road and other infrastructure improvements                                  
around the state.                                                                                   
                                                                                                    
                                 Sincerely yours,                                                   
                                 /s/                                                                
                                 Frank H. Murkowski                                                 
                                  Governor"