HB 240: "An Act providing for the issuance of general obligation bonds in the amount of $64,821,000 for the purpose of paying the cost of design, construction, and maintenance of capital improvements at the University of Alaska; and providing for an effective date."
00HOUSE BILL NO. 240 01 "An Act providing for the issuance of general obligation bonds in the amount of 02 $64,821,000 for the purpose of paying the cost of design, construction, and 03 maintenance of capital improvements at the University of Alaska; and providing 04 for an effective date." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. For the purpose of paying the cost of design, construction, and maintenance 07 of capital improvements at the University of Alaska, general obligation bonds of the state in 08 the principal amount of not more than $64,821,000 if authorized by the qualified voters of the 09 state shall be issued and sold. The full faith, credit, and resources of the state are pledged to 10 the payment of the principal of and interest and redemption premium, if any, on the bonds. 11 The bonds shall be issued under the provisions of AS 37.15 as those provisions read at the 12 time of issuance. 13 * Sec. 2. If the issuance of the bonds is authorized by the qualified voters of the state, a 14 special fund of the state to be known as the "University of Alaska Capital Improvement Fund"
01 shall be established, to which shall be credited the proceeds of the sale of the bonds described 02 in sec. 1 of this Act except for the accrued interest and premiums. 03 * Sec. 3. The amount of $64,821,000 is appropriated from the "University of Alaska 04 Capital Improvement Fund" to the Department of Transportation and Public Facilities to be 05 allocated in accordance with the following projects and estimates: 06 PROJECT LOCATION AMOUNT 07 (1) Hutchinson career center expansion Fairbanks $ 7,000,000 08 (2) Food service facility and Fairbanks 14,000,000 09 museum maintenance/renewal/ 10 replacement 11 (3) Construction of library Anchorage 30,470,000 12 (4) Science facility, sports facility and Anchorage 5,250,000 13 registration center maintenance/ 14 renewal/replacement 15 (5) Construction of classrooms Juneau 7,210,000 16 (6) Building maintenance/renewal/ Juneau 891,000 17 replacement 18 * Sec. 4. If the issuance of the bonds is authorized by the qualified voters of the state, the 19 amount of $226,900 or as much of that amount as is found necessary is appropriated from the 20 general fund of the state to the state bond committee to carry out the provisions of this Act 21 and to pay expenses incident to the sale and issuance of the bonds authorized in this Act. The 22 amounts expended from the appropriation authorized by this section shall be reimbursed to 23 the general fund from the proceeds of the sale of the bonds authorized by this Act. 24 * Sec. 5. The amount withdrawn from the public facility planning fund (AS 35.10.135) for 25 the purpose of advance planning for the improvement financed under this Act shall be 26 reimbursed to the fund from the proceeds of the sale of bonds authorized by this Act. 27 * Sec. 6. The unexpended and unobligated balance of the appropriation made in sec. 3 of 28 this Act lapses under AS 37.25.020 and is appropriated to the state bond committee to redeem 29 bonds sold under the Act. The amounts expended from the general fund to pay the principal, 30 interest, and redemption premium on bonds issued under this Act shall be reimbursed to the 31 general fund from the appropriation made under this section to the extent that the money is
01 not needed to redeem the bonds. 02 * Sec. 7. The question whether the bonds authorized in this Act are to be issued shall be 03 submitted to the qualified voters of the state at the next general election and shall read 04 substantially as follows: 05 PROPOSITION 06 University of Alaska Capital Improvements 07 Design, Construction, and Maintenance 08 Bonds $64,821,000 09 Shall the State of Alaska issue its general obligation bonds in the 10 principal amount of not more than $64,821,000 for the purpose of 11 paying the cost of design, construction, and maintenance of capital 12 improvements at the University of Alaska. 13 Bonds Yes [ ] 14 Bonds No [ ] 15 * Sec. 8. This Act takes effect immediately under AS 01.10.070(c).