SB 38: "An Act mandating the sale of the Alaska Railroad; and providing for an effective date."

00SENATE BILL NO. 38 01 "An Act mandating the sale of the Alaska Railroad; and providing for an 02 effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. SALE OF THE ALASKA RAILROAD. (a) The Alaska Railroad is for sale. 05 (b) The governor shall issue by July 1, 1995, a request for proposals to purchase the 06 Alaska Railroad and all other assets of the Alaska Railroad Corporation. The governor shall 07 evaluate each proposal to purchase the Alaska Railroad as to whether the offeror will continue 08 to operate the railroad after the sale and whether the proposal assures that the state will 09 receive the amount of money it has expended in connection with the railroad. 10 (c) The governor shall enter into an agreement to sell the Alaska Railroad to the most 11 responsive offeror by January 6, 1996. 12 (d) The governor shall report to the legislature by the 10th legislative day of the 13 Second Session of the Nineteenth Alaska State Legislature regarding the sale of the Alaska 14 Railroad as mandated by this Act.

01 (e) Upon the completion of the sale of the railroad, the governor shall dissolve the 02 Alaska Railroad Corporation. 03 (f) The governor may adopt regulations under AS 44.62 to implement this Act. 04 (g) The sale of the Alaska Railroad under this Act is not subject to AS 36.30 or 05 AS 42.40. 06 * Sec. 2. This Act takes effect January 7, 1995.