00 CS FOR SENATE BILL NO. 311(FIN) 01 "An Act providing for and relating to the issuance of general obligation bonds 02 for the purpose of paying the state cost of transportation capital projects; and 03 providing for an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. The uncodified law of the State of Alaska is amended by adding a new 06 section to read: 07 GENERAL OBLIGATION BONDS. For the purpose of paying the state cost of 08 transportation capital projects, general obligation bonds of the state in the principal amount 09 of not more than $201,766,000, if authorized by the qualified voters of the state, shall be 10 issued and sold. The full faith, credit, and resources of the state are pledged to the payment 11 of the principal of and interest and redemption premium, if any, on the bonds. The bonds 12 shall be issued under the provisions of AS 37.15 as those provisions read at the time of 13 issuance. 14  * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section 01 to read: 02 2000 TRANSPORTATION PROJECTS FUND. If the issuance of the bonds is 03 authorized by the qualified voters of the state, a special fund of the state to be known as the 04 "2000 transportation projects fund" shall be established, to which shall be credited the 05 proceeds of the sale of the bonds described in sec. 1 of this Act except for the accrued interest 06 and premiums. 07 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section 08 to read: 09 DEPARTMENT OF TRANSPORTATION AND PUBLIC FACILITIES. The amount 10 of $201,766,000 is appropriated from the "2000 transportation projects fund" to the 11 Department of Transportation and Public Facilities to be allocated among the following 12 projects in the amounts listed subject to reallocation between projects in accordance with 13 AS 37.07.080(e): 14 PROJECT COST 15 ED PROJECT NAME STATE SHARE 16 HARBORS TRANSFER PLAN 17 1 Ketchikan Harbor Transfer $ 7,000,000 18 2 Petersburg Harbor Transfer 3,300,000 19 2 Sitka Harbor Transfer 4,040,000 20 3 - 4 Douglas Dock-Harbor Transfer 1,241,000 21 3 - 4 Taku Harbor Transfer 38,000 22 5 Klawock Harbor Transfer 860,000 23 7 - 9 Seldovia Harbor Transfer 2,500,000 24 35 Whittier Harbor Transfer 1,835,000 25 35 Valdez Harbor Transfer 3,013,000 26 35 Cordova Harbor Transfer 4,337,000 27 38 Nome Harbor Transfer 1,000,000 28 TOTAL $ 29,164,000 29 CORPS OF ENGINEERS MATCH 30 99 Corps of Engineers Program Formulation $ 100,000 31 1 Corps of Engineers - Ketchikan Harbor Study 200,000 01 2 Corps of Engineers - Wrangell 500,000 02 5 Corps of Engineers - Metlakatla-Tamgass 850,000 03 6 Corps of Engineers - Ouzinkie 1,300,000 04 7 - 9 Corps of Engineers - Seward Harbor Expansion 2,925,000 05 40 Corps of Engineers - Perryville Harbor Feasibility 102,000 06 TOTAL $5,977,000 07 HIGHWAY PROJECTS 08 10 - 25 Anchorage: Reconstruction and Construction - $ 65,000,000 09 Raspberry Road/Dowling Road from Minnesota 10 Drive to Abbott Loop Road and Abbott Loop 11 Road/Bragaw Street from Tudor Road to Abbott 12 Road 13 29 - 34 Fairbanks: University Avenue Widening 20,000,000 14 26 - 28 Matanuska-Susitna: Parks/Glenn Highway 60,000,000 15 Interchange and Reconstruction of the Glenn 16 Highway from the Parks Highway to Palmer 17 28 Houston: Kevlar Road 700,000 18 38 Nome: Front Street 1,000,000 19 26 - 28 Matanuska-Susitna: Hatcher Pass Road, 1,100,000 20 Willow End 21 7 - 9 Russian Village Road 900,000 22 7 - 9 Milo Fritz Road 200,000 23 7 - 9 North Cohoe Road 1,000,000 24 7 - 9 Big Tustumena Road 500,000 25 7 - 9 N. Kenai Escape Road 950,000 26 6 Kodiak: Chiniak Road 1,500,000 27 39 Quinhagak: Sanitation Road 500,000 28 36 Russian Mission Landfill Road 450,000 29 37 Selawik Boardwalk Improvements (Phase II) 500,000 30 27 Palmer Airport Road and East Evergreen 600,000 31 34 North Pole - Old Richardson Highway 2,000,000 01 36 McGrath City Streets: Chinana and Takotna 900,000 02 37 Barrow: Isatquak Lagoon Boardwalk and Trail 1,200,000 03 38 Unalakleet Sewage Lagoon Road 475,000 04 5 Thorne Bay Shore Line Drive 350,000 05 2 Petersburg: N. Nordic U-Turn 250,000 06 3 - 4 Juneau: Old Dairy Road 650,000 07 1 Ketchikan: Bus Shelters and Pullouts 350,000 08 2 Wrangell: Church Street 700,000 09 35 Glennallen - Glenn Highway 1,500,000 10 38 Emmonak Landfill Road 550,000 11 29 - 34 Fairbanks: Minnie Street 500,000 12 29 - 34 Fairbanks: Cripple Creek/Isberg Road 1,300,000 13 29 - 34 Fairbanks: Blaine Road 1,000,000 14 TOTAL $166,625,000 15 GRAND TOTAL $201,766,000 16 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section 17 to read: 18 STATE BOND COMMITTEE. If the issuance of the bonds is authorized by the 19 qualified voters of the state, an amount equal to one percent of the principal amount of the 20 bonds, or as much of that amount as is found necessary, is appropriated from the general fund 21 of the state to the state bond committee to carry out the provisions of this Act and to pay 22 expenses incident to the sale and issuance of the bonds authorized in this Act. The amounts 23 expended from the appropriation authorized by this section shall be reimbursed to the general 24 fund from the proceeds of the sale of the bonds authorized by this Act. 25  * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section 26 to read: 27 ADVANCE PLANNING. The amount withdrawn from the public facility planning 28 fund (AS 35.10.135) for the purpose of advance planning for the capital improvements 29 financed under this Act shall be reimbursed to the fund from the proceeds of the sale of bonds 30 authorized by this Act. 31  * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section 01 to read: 02 LAPSE; REDEMPTION; REIMBURSEMENT. The unexpended and unobligated 03 balance of the appropriation made in sec. 3 of this Act lapses under AS 37.25.020 and is 04 appropriated to the state bond committee to redeem bonds sold under this Act. The amounts 05 expended from the general fund to pay the principal, interest, and redemption premium on 06 bonds issued under this Act shall be reimbursed to the general fund from the appropriation 07 made under this section to the extent that the money is not needed to redeem the bonds. 08 * Sec. 7. The uncodified law of the State of Alaska is amended by adding a new section 09 to read: 10 BALLOT QUESTION. The question whether the bonds authorized in this Act are to 11 be issued shall be submitted to the qualified voters of the state at the next general election and 12 shall read substantially as follows: 13 P R O P O S I T I O N 14 State General Obligation Transportation Bonds $201,766,000 15 Shall the State of Alaska issue its general obligation bonds in the 16 principal amount of not more than $201,766,000 for the purpose of 17 paying the cost of transportation capital projects? 18 Bonds Yes [ ] 19 Bonds No [ ] 20 * Sec. 8. This Act takes effect immediately under AS 01.10.070(c).