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CSHB 85(TRA): "An Act giving notice of and approving the financing and entry into a lease-purchase agreement for a Soldotna maintenance facility of the Department of Transportation and Public Facilities." 

00CS FOR HOUSE BILL NO. 85(TRA)                                                                                           
01 "An Act giving notice of and approving the financing and entry into a lease-                                            
02 purchase agreement for a Soldotna maintenance facility of the Department of                                             
03 Transportation and Public Facilities."                                                                                  
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.   NOTICE AND APPROVAL OF THE FINANCING OF AND ENTRY INTO                                                
06 A LEASE-PURCHASE AGREEMENT.  The State bond committee, created under                                                    
07 AS 37.15.110, is authorized to arrange for the issuance of certificates of participation for and                        
08 the Department of Administration is authorized to enter into a lease-purchase agreement for                             
09 a new maintenance facility in Soldotna to be operated by the Department of Transportation                               
10 and Public Facilities.  The total construction, acquisition, or other costs of the project shall be                     
11 less than $6,000,000.  The annual amount of the rental obligation shall be less than                                    
12 $1,300,000.  The total lease payments for the full term of the agreement shall be less than                             
13 $10,000,000.  The state shall own the facility at the end of the lease term.  This section                              
14 constitutes the notice and approval required by AS 36.30.085.