00SPONSOR SUBSTITUTE FOR SENATE BILL NO. 181                                                                            
01 "An Act directing sale of the four dam pool hydroelectric facilities."                                                  
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
03    * Section 1.  The uncodified law of the State of Alaska is amended by adding a new                                 
04 section to read:                                                                                                        
05  SALE OF THE HYDROELECTRIC FACILITIES OF THE FOUR DAM POOL.  (a)                                                        
06 The Alaska Energy Authority shall sell its rights and interests in the hydroelectric facilities                         
07 of the four dam pool.  The authority shall sell its rights and interests in the hydroelectric                           
08 facilities to a corporation established by the municipalities to which the facilities provide                           
09 electrical power if, in addition to providing a price that is otherwise satisfactory to the                             
10 directors of the authority, the corporation will                                                                        
11   (1)  protect the electric power rates of the local consumers in the municipalities                                    
12 from unwarranted increase; and                                                                                          
13   (2)  ensure that the power projects are adequately maintained and repaired.                                           
14  (b)  Notwithstanding AS 44.62.310 and 44.62.312, the corporation described in (a) of                                   

01 this section and the governing body or a committee of each municipality may consider and                                
02 prepare documents relating to a sale described in (a) of this section in executive session.  The                        
03 documents and work papers prepared, acquired, or used in preparation of the document are                                
04 confidential and are not subject to AS 09.25.100 - 09.25.220.                                                           
05  (c)  In this section, "four dam pool" means the hydroelectric facilities acquired or                                   
06 constructed under the former energy program for Alaska at Tyee Lake, Swan Lake, Solomon                                 
07 Gulch, and Terror Lake.