00 SENATE BILL NO. 167 01 "An Act providing notice of and authorizing the legislative council and the supreme 02 court to enter into a lease-purchase agreement for a consolidated office building in 03 Anchorage; relating to the issuance of certificates of participation for the consolidated 04 office building; and providing for an effective date." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 07 to read: 08 FINDINGS AND PURPOSE. (a) The legislature finds that 09 (1) new legislative office space is needed in Anchorage to accommodate the 10 consolidation of the district offices of Anchorage legislators, the legislative information 11 office, the office of the ombudsman, the Legislative Budget and Audit Committee, the Select 12 Committee on Legislative Ethics, and the office of victims' rights; 13 (2) new administrative offices are needed for the Alaska Court System; 14 (3) consolidation of the offices in (1) and (2) of this subsection in one building 01 with separate entrances for the Alaska Court System offices and legislative offices would be 02 an efficient way to satisfy this need for office space. 03 (b) The purpose of this Act is to provide notice of and authorize the Alaska 04 Legislative Council and the Alaska Supreme Court to enter into a lease-purchase agreement 05 for a consolidated office building to provide the office space described in (a) of this section. 06 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 07 read: 08 LEGISLATIVE NOTICE OF AND AUTHORIZATION FOR LEASE-PURCHASE 09 AGREEMENT. (a) The legislative council and the supreme court may enter into a lease- 10 purchase agreement for an office building in Anchorage, Alaska, to provide in one building 11 office space for the Alaska Court System, Anchorage legislators, the Anchorage legislative 12 information office, the office of the ombudsman, the Legislative Budget and Audit 13 Committee, the Select Committee on Legislative Ethics, and the office of victims' rights to be 14 constructed under the lease-purchase agreement. 15 (b) The state bond committee is authorized to provide for the issuance of certificates 16 of participation in one or more series in the aggregate principal amount of $41,400,000 for the 17 construction of the project described in (a) of this section. 18 (c) The estimated total cost of construction, acquisition, and other costs of the project 19 described in (a) of this section is $41,400,000. The estimated annual amount of the rental 20 obligation under the lease-purchase agreement is $3,300,000. The estimated total lease 21 payments for the full term of the lease-purchase agreement is $65,700,000. In this subsection, 22 "cost of construction" includes credit enhancement and underwriting expenses, rating agency 23 fees, bond counsel fees, financial advisor fees, printing fees, advertising fees, capitalized 24 interest, and interest earnings used for lease payments. 25 (d) The state bond committee may contract for credit enhancement, underwriting, 26 credit ratings, bond counsel, financial advisor, printing, advertising, and trustee services that 27 the committee considers necessary in financing the project described in (a) of this section. 28 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 29 read: 30 APPROVAL OF FINANCING AND AGREEMENT. Section 2 of this Act 31 constitutes the notice and approval required by AS 36.30.085 for the lease-purchase 01 agreement described in sec. 2 of this Act. 02 * Sec. 4. This Act takes effect immediately under AS 01.10.070(c).