00 SENATE BILL NO. 34                                                                                                    
01 "An Act giving notice of and approving a lease-purchase agreement with the City                                         
02 of Soldotna for a maintenance facility of the Department of Transportation and                                          
03 Public Facilities."                                                                                                     
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
05    * Section 1.  NOTICE AND APPROVAL OF LEASE-PURCHASE AGREEMENT.  The                                                
06 Department of Administration is authorized to enter into a lease-purchase agreement with the                            
07 City of Soldotna to enable the City of Soldotna to finance and build a maintenance facility                             
08 of the Department of Transportation and Public Facilities.  The total construction, acquisition,                        
09 or other costs of the project shall be less than $6,000,000.  The annual amount of the rental                           
10 obligation shall be less than $1,300,000.  The total lease payments for the full term of the                            
11 agreement shall be less than $10,000,000.  The state shall own the facility at the end of the                           
12 lease term.  This section constitutes the notice and approval required by AS 36.30.085.