CSSB 311(FIN) AM: "An Act providing for and relating to the issuance of general obligation bonds for the purpose of paying the state cost of transportation capital projects; and providing for an effective date."
00CS FOR SENATE BILL NO. 311(FIN) am 01 "An Act providing for and relating to the issuance of general obligation bonds 02 for the purpose of paying the state cost of transportation capital projects; and 03 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 transportation capital projects, general obligation bonds of the state in the principal amount 09 of not more than $202,258,000, if authorized by the qualified voters of the state, shall be 10 issued and sold. The full faith, credit, and resources of the state are pledged to the payment 11 of the principal of and interest and redemption premium, if any, on the bonds. The bonds 12 shall be issued under the provisions of AS 37.15 as those provisions read at the time of 13 issuance. 14 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section
01 to read: 02 2000 TRANSPORTATION 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 "2000 transportation projects fund" shall be established, to which shall be credited the 05 proceeds of the sale of the bonds described in sec. 1 of this Act except for the accrued interest 06 and 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 $202,258,000 is appropriated from the "2000 transportation projects fund" to the 11 Department of Transportation and Public Facilities to be allocated among the following 12 projects in the amounts listed subject to reallocation between projects in accordance with 13 AS 37.07.080(e): 14 PROJECT COST 15 ED PROJECT NAME STATE SHARE 16 HARBORS TRANSFER PLAN 17 1 Ketchikan Harbor Transfer $ 7,000,000 18 2 Petersburg Harbor Transfer 3,300,000 19 2 Sitka Harbor Transfer 4,040,000 20 3 - 4 Auke Bay Transfer 492,000 21 3 - 4 Douglas Dock-Harbor Transfer 1,241,000 22 3 - 4 Taku Harbor Transfer 38,000 23 5 Klawock Harbor Transfer 860,000 24 7 - 9 Seldovia Harbor Transfer 2,500,000 25 35 Whittier Harbor Transfer 1,835,000 26 35 Valdez Harbor Transfer 3,013,000 27 35 Cordova Harbor Transfer 4,337,000 28 38 Nome Harbor Transfer 1,000,000 29 TOTAL $ 29,656,000 30 CORPS OF ENGINEERS MATCH 31 99 Corps of Engineers Program Formulation $ 100,000
01 1 Corps of Engineers - Ketchikan Harbor Study 200,000 02 2 Corps of Engineers - Wrangell 500,000 03 5 Corps of Engineers - Metlakatla-Tamgass 850,000 04 6 Corps of Engineers - Ouzinkie 1,300,000 05 7 - 9 Corps of Engineers - Seward Harbor Expansion 2,925,000 06 40 Corps of Engineers - Perryville Harbor Feasibility 102,000 07 TOTAL $5,977,000 08 HIGHWAY PROJECTS 09 10 - 25 Anchorage: Dowling Road Extension/ $ 65,000,000 10 Reconstruction - (Minnesota Drive to Old Seward 11 Highway and Lake Otis Parkway to Abbott Loop 12 Road); Abbott Loop Road Extension - (48th 13 Avenue to 68th Avenue); Abbott Road 14 Reconstruction - (Lake Otis Parkway to Birch 15 Road) 29 - 34 Fairbanks: University Avenue Widening 20,000,000 16 26 - 28 Matanuska-Susitna: Seward Meridian upgrade 60,000,000 17 to Seldon/Knik Goose Bay Road rehab/Bogard 18 Road extension to Glenn Highway/Seldon West 19 Extension Phase 1/Wasilla Fishhook to Church 20 Road and Parks/Glenn Highway Interchange 21 28 Houston: Kevlar Road 700,000 22 38 Nome: Front Street 1,000,000 23 26 - 28 Matanuska-Susitna: Hatcher Pass Road, 1,100,000 24 Willow End 25 7 - 9 Russian Village Road 900,000 26 7 - 9 Milo Fritz Road 200,000 27 7 - 9 North Cohoe Road 1,000,000 28 7 - 9 Big Tustumena Road 500,000 29 7 - 9 N. Kenai Escape Road 950,000 30 6 Kodiak: Chiniak Road 1,500,000 31 39 Quinhagak: Sanitation Road 500,000
01 36 Russian Mission Landfill Road 450,000 02 37 Selawik Boardwalk Improvements (Phase II) 500,000 03 27 Palmer Airport Road and East Evergreen 600,000 04 34 North Pole - Old Richardson Highway 2,000,000 05 36 McGrath City Streets: Chinana and Takotna 900,000 06 37 Barrow: Isatquak Lagoon Boardwalk and Trail 1,200,000 07 38 Unalakleet Sewage Lagoon Road 475,000 08 5 Thorne Bay Shore Line Drive 350,000 09 2 Petersburg: N. Nordic U-Turn 250,000 10 3 - 4 Juneau: Old Dairy Road 650,000 11 1 Ketchikan: Bus Shelters and Pullouts 350,000 12 2 Wrangell: Church Street 700,000 13 35 Glennallen - Glenn Highway 1,500,000 14 38 Emmonak Landfill Road 550,000 15 29 - 34 Fairbanks: Minnie Street 500,000 16 29 - 34 Fairbanks: Cripple Creek/Isberg Road 1,300,000 17 29 - 34 Fairbanks: Blaine Road 1,000,000 18 TOTAL $166,625,000 19 GRAND TOTAL $202,258,000 20 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section 21 to read: 22 STATE BOND COMMITTEE. If the issuance of the bonds is authorized by the 23 qualified voters of the state, an amount equal to one percent of the principal amount of the 24 bonds, or as much of that amount as is found necessary, is appropriated from the general fund 25 of the state to the state bond committee to carry out the provisions of this Act and to pay 26 expenses incident to the sale and issuance of the bonds authorized in this Act. The amounts 27 expended from the appropriation authorized by this section shall be reimbursed to the general 28 fund from the proceeds of the sale of the bonds authorized by this Act. 29 * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section 30 to read: 31 ADVANCE PLANNING. The amount withdrawn from the public facility planning
01 fund (AS 35.10.135) for the purpose of advance planning for the capital improvements 02 financed under this Act shall be reimbursed to the fund from the proceeds of the sale of bonds 03 authorized by this Act. 04 * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section 05 to read: 06 LAPSE; REDEMPTION; REIMBURSEMENT. The unexpended and unobligated 07 balance of the appropriation made in sec. 3 of this Act lapses under AS 37.25.020 and is 08 appropriated to the state bond committee to redeem bonds sold under this Act. The amounts 09 expended from the general fund to pay the principal, interest, and redemption premium on 10 bonds issued under this Act shall be reimbursed to the general fund from the appropriation 11 made under this section to the extent that the money is not needed to redeem the bonds. 12 * Sec. 7. The uncodified law of the State of Alaska is amended by adding a new section 13 to read: 14 BALLOT QUESTION. The question whether the bonds authorized in this Act are to 15 be issued shall be submitted to the qualified voters of the state at the next general election and 16 shall read substantially as follows: 17 P R O P O S I T I O N 18 State General Obligation Transportation Bonds $202,258,000 19 Shall the State of Alaska issue its general obligation bonds in the 20 principal amount of not more than $202,258,000 for the purpose of 21 paying the cost of transportation capital projects? 22 Bonds Yes [ ] 23 Bonds No [ ] 24 * Sec. 8. This Act takes effect immediately under AS 01.10.070(c).