SB 97: "An Act giving notice of and approving a lease-purchase agreement with the City of Seward for the construction and operation of an addition to the Spring Creek Correctional Center, and setting conditions and limitations on the facility's construction and operation."
00SENATE BILL NO. 97 01 "An Act giving notice of and approving a lease-purchase agreement with the City 02 of Seward for the construction and operation of an addition to the Spring Creek 03 Correctional Center, and setting conditions and limitations on the facility's 04 construction and operation." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. NOTICE AND APPROVAL OF LEASE-PURCHASE AGREEMENT. (a) 07 To provide for the construction and operation of a correctional facility in order to relieve 08 overcrowding of existing correctional facilities, the Department of Administration, on behalf 09 of the Department of Corrections, may enter into a lease-purchase agreement with the City of 10 Seward under AS 33.30.031 for the construction and operation of an addition to the Spring 11 Creek Correctional Center that will house persons who are committed to the custody of the 12 commissioner of corrections. The project approval given by this subsection is subject to the 13 following limitations: 14 (1) the total construction and related costs of the addition to the correctional
01 facility may not exceed $25,000,000; 02 (2) the total lease payments for the full term of the agreement may not exceed 03 $47,200,000, and the anticipated annual amount of the rental obligation to be paid by the 04 Department of Corrections under the lease may not exceed $2,702,000; 05 (3) at the end of the term of the lease-purchase agreement, the state shall own 06 the correctional facility; and 07 (4) the addition must be designed and constructed so as to provide at least 250 08 additional beds to Spring Creek Correctional Center. 09 (b) Subsection (a) of this section constitutes the notice and approval required by 10 AS 36.30.085.