SB 310: "An Act providing for and relating to the issuance of general obligation bonds for the purpose of paying the state cost of school, University of Alaska, and port and harbor capital projects; and providing for an effective date."
00SENATE BILL NO. 310 01 "An Act providing for and relating to the issuance of general obligation bonds 02 for the purpose of paying the state cost of school, University of Alaska, and port 03 and harbor capital projects; and providing for an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. The uncodified law of the State of Alaska is amended by adding a new 06 section to read: 07 GENERAL OBLIGATION BONDS. For the purpose of paying the state cost of 08 school, University of Alaska, and port and harbor capital projects, general obligation bonds 09 of the state in the principal amount of not more than $269,590,001, if authorized by the 10 qualified voters of the state, shall be issued and sold. The full faith, credit, and resources of 11 the state are pledged to the payment of the principal of and interest and redemption premium, 12 if any, on the bonds. The bonds shall be issued under the provisions of AS 37.15 as those 13 provisions read at the time of issuance. 14 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section
01 to read: 02 SCHOOL AND HARBOR PROJECTS FUND. If the issuance of the bonds is 03 authorized by the qualified voters of the state, a special fund of the state to be known as the 04 "school and harbor projects fund" shall be established, to which shall be credited the proceeds 05 of the sale of the bonds described in sec. 1 of this Act except for the accrued interest and 06 premiums. 07 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section 08 to read: 09 DEPARTMENT OF TRANSPORTATION AND PUBLIC FACILITIES. The amount 10 of $269,590,001 is appropriated from the "school and harbor projects fund" to the Department 11 of Transportation and Public Facilities to be allocated among the following projects in the 12 amounts listed subject to reallocation between projects in accordance with AS 37.07.080(e): 13 PROJECT COST 14 ED PROJECT NAME STATE SHARE 15 SCHOOLS 16 2 Petersburg - Fascia/Soffit Repair/Replace $ 112,960 17 3 - 4 Juneau Schools 18 Auke Bay Elementary Roof Replacement 653,842 19 Marie Drake Roof Replacement 599,501 20 Harborview Elementary Gym Replacement 106,604 21 High School Heating/Ventilation 65,303 22 High School Auxiliary Gym Floor Replacement 109,386 23 Floyd Dryden School Gym Floor 108,236 24 Gastineau Elementary Heating Coil Replacement 133,053 25 Floyd Dryden Middle School 3,629,683 26 5 Kake City - Kake Elementary School Addition 2,237,460 27 6 Kodiak Island Schools 28 Peterson Elementary Addition 756,000 29 Kodiak High School 1,106,875 30 7 - 9 Kenai/Soldotna Schools 31 McNeil Elementary Wastewater Plant 125,300
01 Kenai Central High School Reinsulate 367,648 02 Exterior Walls 03 Soldotna High School Roofing Replacement 644,014 04 10 - 25 Anchorage Schools 05 Bartlett High School, Phase I 3,500,000 06 Eagle River/Chugiak High School 14,563,500 07 East High School, Phase I 7,295,400 08 Service High School, Phase I 4,998,000 09 Wendler Middle School, Phase I 4,231,500 10 Denali Elementary, Replacement 8,211,000 11 District Wide Projects/Major Maintenance 11,730,600 12 26 - 28 Matanuska-Susitna Schools 13 Matanuska-Susitna - Fire Alarm System - 620,648 14 Five Schools 15 Matanuska-Susitna - Colony High School 159,416 16 Septic System 17 Matanuska-Susitna - Fuel Tank Replacement 126,261 18 Matanuska-Susitna Fire Sprinklers and Piping (3) 1,381,770 19 Matanuska-Susitna Boiler/Heater Replacement 221,051 20 (four schools) 21 Matanuska-Susitna Carpet Replacement 423,507 22 (six schools) 23 36 Lower Yukon - Pilot Station School 17,654,003 24 Replacement 25 37 Northwest Arctic Schools 26 Ambler K-12 Improvements 924,586 27 Kiana K-12 Improvements 1,395,000 28 38 Kashunamiut - Chevak School Replacement 28,272,551 29 Lower Yukon - Kotlik School Replacement 17,910,901 30 Elim School, Phase III 12,146,788 31 Southwest Region Schools
01 39 Manokotak School Replacement 14,689,464 02 40 Pribilof Island - St. George School Remodel 4,385,970 03 $165,597,781 04 UNIVERSITY 05 4 University of Alaska - Southeast 06 Deferred Maintenance $ 1,687,854 07 7 - 9 AVTEC - Seward 08 Student Housing 4,200,000 09 10 - 25 University of Alaska - Anchorage 10 Consortium Library 36,000,000 11 Deferred Maintenance 4,220,000 12 26 - 28 Matanuska-Susitna Ortner Building Replacement 685,000 13 29 - 34 University of Alaska - Fairbanks 14 Deferred Maintenance 25,199,054 15 $71,991,908 16 PORTS AND HARBORS 17 HARBORS TRANSFER PLAN 18 1 Ketchikan $ 7,000,000 19 2 Petersburg 3,300,000 20 3 - 4 Juneau Area Harbors 21 Auke Bay Harbor 492,325 22 Douglas Dock/Harbor 1,241,421 23 Taku Harbor 38,566 24 5 Klawock 860,000 25 7 - 9 Seldovia 2,500,000 26 35 Whittier 1,835,600 27 Valdez 3,013,500 28 Cordova 4,337,800 29 38 Nome 1,000,000 30 CORPS OF ENGINEERS MATCH 31 Program Formulation 100,000
01 1 Ketchikan Harbor Study 200,000 02 2 Wrangell 500,000 03 5 Kake 404,000 04 Metlakatla - Tamgass 850,000 05 6 Ouzinkie 1,300,000 06 7 - 9 Seward Harbor Expansion 2,925,000 07 40 Perryville Harbor Feasibility 102,100 08 $32,000,312 09 GRAND TOTAL $269,590,001 10 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section 11 to read: 12 STATE BOND COMMITTEE. If the issuance of the bonds is authorized by the 13 qualified voters of the state, the amount of $943,565 or as much of that amount as is found 14 necessary is appropriated from the general fund of the state to the state bond committee to 15 carry out the provisions of this Act and to pay expenses incident to the sale and issuance of 16 the bonds authorized in this Act. The amounts expended from the appropriation authorized 17 by this section shall be reimbursed to the general fund from the proceeds of the sale of the 18 bonds authorized by this Act. 19 * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section 20 to read: 21 ADVANCE PLANNING. The amount withdrawn from the public facility planning 22 fund (AS 35.10.135) for the purpose of advance planning for the capital improvements 23 financed under this Act shall be reimbursed to the fund from the proceeds of the sale of bonds 24 authorized by this Act. 25 * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section 26 to read: 27 LAPSE; REDEMPTION; REIMBURSEMENT. The unexpended and unobligated 28 balance of the appropriation made in sec. 3 of this Act lapses under AS 37.25.020 and is 29 appropriated to the state bond committee to redeem bonds sold under this Act. The amounts 30 expended from the general fund to pay the principal, interest, and redemption premium on 31 bonds issued under this Act shall be reimbursed to the general fund from the appropriation
01 made under this section to the extent that the money is not needed to redeem the bonds. 02 * Sec. 7. The uncodified law of the State of Alaska is amended by adding a new section 03 to read: 04 BALLOT QUESTION. The question whether the bonds authorized in this Act are to 05 be issued shall be submitted to the qualified voters of the state at the next general election and 06 shall read substantially as follows: 07 P R O P O S I T I O N 08 State General Obligation School and Harbor Bonds $269,590,001 09 Shall the State of Alaska issue its general obligation bonds in the 10 principal amount of not more than $269,590,001 for the purpose of 11 paying the cost of school, University of Alaska, and port and harbor 12 capital projects? 13 Bonds Yes [ ] 14 Bonds No [ ] 15 * Sec. 8. This Act takes effect immediately under AS 01.10.070(c).