00HOUSE BILL NO. 236                                                                                                      
01 "An Act giving notice of and approving a lease-purchase agreement by the                                                
02 Department of Administration for an office building in Anchorage; relating to the                                       
03 financing of the lease-purchase agreement; and providing for an effective date."                                        
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  NOTICE AND APPROVAL OF LEASE-PURCHASE AGREEMENT.  The                                                  
06 Department of Administration is authorized to enter into a lease-purchase agreement to acquire                          
07 an office building in Anchorage, Alaska.  The state bond committee created under                                        
08 AS 37.15.110 shall oversee the financing and is authorized to provide for issuance of                                   
09 certificates of participation for the lease-purchase agreement.  The total construction,                                
10 acquisition, and other costs of the project shall be less than $38,950,000.  The annual amount                          
11 of the rental obligation shall be less than $4,070,000.  The total lease payments for the full                          
12 term of the agreement shall be less than $81,400,000.  The state shall own the office building                          
13 at the end of the lease term.  This section constitutes the notice and approval required by                             
14 AS 36.30.085.                                                                                                           

01    * Sec. 2.  This Act takes effect immediately under AS 01.10.070(c).