HB 91: "An Act providing for the issuance of general obligation bonds in the amount of $413,824,800 for the purpose of paying the cost of acquiring, constructing, reconstructing, and equipping public schools; and providing for an effective date."
00HOUSE BILL NO. 91 01 "An Act providing for the issuance of general obligation bonds in the amount 02 of $413,824,800 for the purpose of paying the cost of acquiring, constructing, 03 reconstructing, and equipping public schools; and providing for an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. For the purpose of paying the cost of acquiring, constructing, reconstructing, 06 and equipping public schools, general obligation bonds of the state in the principal amount of 07 not more than $413,824,800 shall be issued and sold. The full faith, credit, and resources of 08 the state are pledged to the payment of the principal of and interest and redemption premium, 09 if any, on the bonds. The bonds shall be issued under the provisions of AS 37.15 as those 10 provisions read at the time of issuance. 11 * Sec. 2. If the issuance of the bonds is authorized by the qualified voters of the state, a 12 special fund of the state to be known as the "1994 public school construction fund" shall be 13 established, to which shall be credited the proceeds of the sale of the bonds described in sec. 1 14 of this Act except for the accrued interest and premiums.
01 * Sec. 3. (a) The amount of $413,824,800 is appropriated from the "1994 public school 02 construction fund" to the Department of Education for the following projects: 03 PROJECT LOCATION AMOUNT 04 School replacement Selawik $ 14,366,700 05 School addition/renovation Koyuk 9,528,600 06 Portable classrooms district wide Kenai 426,300 07 Elementary school addition Unalaska 5,466,000 08 School construction Edna Bay 1,229,000 09 Classroom addition Hooper Bay 622,700 10 School construction Port Protection 851,900 11 School project Kasaan-Hollis 1,903,600 12 Elementary school addition Craig 2,121,000 13 Elementary school Upper Kalskag 1,946,400 14 New school Wasilla 10,250,000 15 Middle/elementary school, phase I Aniak 5,803,400 16 New elementary school Mountain View Anchorage 12,300,000 17 Craig high school, phase I Craig 818,600 18 Middle school Bethel 18,917,000 19 New floating school Craik 1,750,000 20 New elementary school Sand Lake Anchorage 12,300,000 21 Elementary replacement/upgrade Akiachak 5,500,000 22 School addition Buckland 13,232,100 23 Schoenbar Junior High Ketchikan 8,816,700 24 New elementary school Juneau 14,200,000 25 New Fairbanks high school, phase II Fairbanks 61,631,900 26 School replacement Ivanof Bay 1,000,000 27 New North Fairbanks elementary school Fairbanks 13,461,700 28 Multipurpose/classroom addition Circle 1,650,000 29 New elementary school, phase I Kodiak 7,500,000 30 School addition Allakaket 1,461,600 31 School construction Naukati 2,047,000
01 Glacier View School addition Matanuska-Susitna 4,612,500 02 School addition False Pass 725,000 03 School addition Togiak 2,112,000 04 School addition Kokhanok 450,000 05 Elementary school renovation Kenai 3,841,600 06 Elementary classroom addition Angoon 687,000 07 New elementary school Turnagain Anchorage 13,000,000 08 Building replacement Coffman Cove 3,526,000 09 Elementary school addition Teller 6,584,700 10 Modular classrooms Akiachak 575,000 11 Elementary addition to high school Golovin 5,360,800 12 Auke Bay classroom addition Juneau 311,400 13 Elementary school addition Atmautluak 4,674,900 14 New West Homer Elementary Homer 10,300,500 15 School addition Akutan 1,300,000 16 Elementary addition Copper Center 1,881,400 17 Willow Crest Elementary addition Anchorage 4,650,000 18 Middle school addition Haines 3,840,000 19 School upgrade/remodel Ouzinkie 2,000,000 20 Elementary addition Elim 8,886,600 21 Atlasta New Middle School Matanuska-Susitna 26,137,500 22 School addition Healy 8,625,000 23 Johnnie John School addition Crooked Creek 650,000 24 Chinook Elementary/addition Anchorage 4,450,000 25 New high school, phase I Klawock 1,000,000 26 Elementary school addition Lower Kalskag 750,000 27 New Skyview Middle/Jr. High Soldotna 25,040,700 28 South Anchorage new junior high Anchorage 36,750,000. 29 (b) The legislature may by law add additional school projects described under sec. 1 30 of this Act or reallocate funds between projects described in (a) of this section. 31 * Sec. 4. If the issuance of the bonds is authorized by the qualified voters of the state, the
01 amount of $1,448,387 or as much of that amount as is found necessary is appropriated from 02 the general fund of the state to the state bond committee to carry out the provisions of this 03 Act and to pay expenses incident to the sale and issuance of the bonds authorized in this Act. 04 The amounts expended from the appropriation authorized by this section shall be reimbursed 05 to the general fund from the proceeds of the sale of the bonds authorized by this Act. 06 * Sec. 5. The unexpended and unobligated balance of the appropriation made in sec. 3 of 07 this Act lapses under AS 37.25.020 and is appropriated to the state bond committee to redeem 08 bonds sold under this Act. The amounts expended from the general fund to pay the principal, 09 interest, and redemption premium on bonds issued under this Act shall be reimbursed to the 10 general fund from the appropriation made under this section to the extent that the money is 11 not needed to redeem the bonds. 12 * Sec. 6. The question whether the bonds authorized in this Act are to be issued shall be 13 submitted to the qualified voters of the state at the next general election and shall read 14 substantially as follows: 15 P R O P O S I T I O N 16 State General Obligation Public School Construction 17 Bonds $413,824,800 18 Shall the State of Alaska issue its general obligation bonds in 19 the principal amount of not more than $413,824,800 for the 20 purpose of acquiring, constructing, reconstructing, and equipping 21 public schools? 22 Bonds Yes [ ] 23 Bonds No [ ] 24 * Sec. 7. This Act takes effect immediately under AS 01.10.070(c).