00 HOUSE BILL NO. 432                                                                                                    
01 "An Act relating to the bond authorization for international airports revenue                                           
02 bonds; and providing for an effective date."                                                                            
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  AS 37.15.410 is amended to read:                                                                     
05  Sec. 37.15.410.  Bond authorization.  For the purpose of providing part or all                                      
06 of the money to be used, with or without any grants or other money that may become                                      
07 available, the issuance and sale of revenue bonds of the state in  a  [THE] total principal                           
08 sum [OF] not to exceed  $280,000,000  [$100,825,000] is authorized to acquire, equip,                                 
09 construct, and install the additions, improvements, extensions, and facilities authorized                               
10 in AS 37.15.510.  The principal of and interest on these bonds shall be paid out of and                                 
11 secured by the gross revenue derived by the state from the ownership, lease, use, and                                   
12 operation of the airports, and of all the facilities of them ,  and out of any other                                  
13 [REVENUE OR] money that [THE STATE LEGISLATURE] may  be appropriated                                                   
14 for the purpose  [PROVIDE EXCLUSIVE OF ANY STATE TAX OR LICENSE].                                                      
01    * Sec. 2.  This Act takes effect immediately under AS 01.10.070(c).