SCS CSHB 524(FIN): "An Act relating to the issuance of general obligation bonds for the purpose of paying the cost of design, construction, and major maintenance of educational and museum facilities; and providing for an effective date."
00 SENATE CS FOR CS FOR HOUSE BILL NO. 524(FIN) 01 "An Act relating to the issuance of general obligation bonds for the purpose of paying 02 the cost of design, construction, and major maintenance of educational and museum 03 facilities; 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 section 06 to read: 07 GENERAL OBLIGATION BONDS. For the purpose of paying the cost of design, 08 construction, and major maintenance of educational and museum facilities, general obligation 09 bonds of the state in the principal amount of not more than $201,166,746, if ratified by a 10 majority of the qualified voters of the state who vote on the question, shall be issued and sold. 11 The full faith, credit, and resources of the state are pledged to the payment of the principal of 12 and interest and redemption premium, if any, on the bonds. The bonds shall be issued under 13 the provisions of AS 37.15 as those 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 to
01 read: 02 EDUCATIONAL AND MUSEUM FACILITY DESIGN, CONSTRUCTION, AND 03 MAJOR MAINTENANCE FUND. If the issuance of the bonds is ratified by a majority of 04 the qualified voters of the state who vote on the question, a special fund of the state to be 05 known as the "educational and museum facility design, construction, and major maintenance 06 fund" shall be established, to which shall be credited the proceeds of the sale of the bonds 07 described in sec. 1 of this Act except for the accrued interest and premiums. 08 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 09 read: 10 DEPARTMENT OF EDUCATION AND EARLY DEVELOPMENT. The amount of 11 $134,462,746 is appropriated from the educational and museum facility design, construction, 12 and major maintenance fund to the Department of Education and Early Development to be 13 awarded as grants for design, construction, and major maintenance for public schools, subject 14 to reallocation between projects in accordance with AS 37.07.080(e), for the following 15 projects and estimates: 16 MUNICIPALITY OR 17 PROJECT REAA LOCATION AMOUNT 18 (1) Tuluksak School improvement Yupiit $17,703,793 19 (2) Akiak School improvement Yupiit 13,228,730 20 (3) Akiachak School improvement Yupiit 19,099,094 21 (4) Scammon Bay replacement school Lower Yukon 17,029,762 22 (5) Teller K-12 remodel/addition Bering Strait 9,426,570 23 (6) Hooper Bay addition/renovation Lower Yukon 24,423,467 24 (7) Circle School replacement Yukon Flats 4,068,521 25 (8) Naukati School replacement Southeast Island 4,018,031 26 (9) Sheldon Point (Nunam Iqua) Lower Yukon 7,285,492 27 school improvement 28 (10 White Mountain K-12 remodel/ Bering Strait 11,387,668 29 addition 30 (11) Arctic Village addition/renovation Yukon Flats 6,791,618 31 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to
01 read: 02 UNIVERSITY OF ALASKA. The amount of $61,704,000 is appropriated from the 03 educational and museum facility design, construction, and major maintenance fund to the 04 University of Alaska for the following design, construction, and major maintenance projects, 05 subject to reallocation between projects in accordance with AS 37.07.080(e): 06 PROJECT LOCATION AMOUNT 07 (1) BioScience class/laboratory, Fairbanks $21,500,000 08 infrastructure design, buildout, 09 and site development 10 (2) Integrated science facility, Anchorage 8,400,000 11 Phase 1 12 (3) Lena Point fisheries laboratory Juneau 9,000,000 13 (4) Prince William Sound building Valdez 1,500,000 14 acquisition 15 (5) Classroom expansion Kenai 850,000 16 (6) Classroom completion Sitka 540,000 17 (7) Classroom addition/land Homer 3,000,000 18 acquisition, Phase 1 19 (8) Biomedical facility addition Anchorage 4,750,000 20 (9) West Ridge research addition Fairbanks 2,000,000 21 (10) Paul/Ziegler classroom Ketchikan 3,900,000 22 renovation 23 (11) Prince William Sound Valdez 835,000 24 classroom building renovation 25 (12) Matanuska-Susitna classroom Palmer 650,000 26 building renovation 27 (13) Robertson classroom/parking Ketchikan 385,000 28 lot renovations 29 (14) Classroom building renovations Kodiak 500,000 30 (15) Tanana Valley space renovation Fairbanks 2,000,000 31 (16) Chukchi classroom building Kotzebue 580,000
01 renovation 02 (17) Interior/Aleutians classroom Interior/Aleutians 240,000 03 building renovation 04 (18) Northwest College classroom Nome 190,000 05 building renovation 06 (19) Kuskokwim College classroom Bethel 180,000 07 building renovation 08 (20) Bristol Bay Campus addition Dillingham 704,000 09 * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section to 10 read: 11 DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT. The 12 amount of $5,000,000 is appropriated from the educational and museum facility design, 13 construction, and major maintenance fund to the Department of Community and Economic 14 Development to be awarded as a grant under AS 37.05.315 to the Municipality of Anchorage 15 for renovation of the Anchorage Museum of History and Art. 16 * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section to 17 read: 18 STATE BOND COMMITTEE. If the issuance of the bonds is ratified by a majority 19 of the qualified voters of the state who vote on the question, the amount of $1,005,834 or as 20 much of that amount as is found necessary is appropriated from the proceeds of the sale of the 21 bonds authorized by this Act to the state bond committee to carry out the provisions of this 22 Act and to pay expenses incident to the sale and issuance of the bonds authorized by this Act. 23 * Sec. 7. The uncodified law of the State of Alaska is amended by adding a new section to 24 read: 25 ADVANCE PLANNING. Any amount withdrawn from the public facility planning 26 fund (AS 35.10.135) for the purpose of advance planning for the capital improvements 27 financed under this Act shall be reimbursed to the fund from the proceeds of the sale of bonds 28 authorized by this Act. 29 * Sec. 8. The uncodified law of the State of Alaska is amended by adding a new section to 30 read: 31 LAPSE; REDEMPTION; REIMBURSEMENT. The unexpended and unobligated
01 balances of the appropriations made in secs. 3 - 5 of this Act lapse under AS 37.25.020 and 02 are appropriated to the state bond committee to redeem bonds sold under this Act. The 03 amounts expended from the general fund to pay the principal, interest, and redemption 04 premium on bonds issued under this Act shall be reimbursed to the general fund from the 05 appropriation made under this section to the extent that the money is not needed to redeem the 06 bonds. 07 * Sec. 9. The uncodified law of the State of Alaska is amended by adding a new section to 08 read: 09 BALLOT QUESTION. The question whether the bonds authorized by this Act are to 10 be issued shall be submitted to the qualified voters of the state at the next general election and 11 shall read substantially as follows: 12 P R O P O S I T I O N 13 State General Obligation Educational and 14 Museum Facility, Design, Construction, 15 and Major Maintenance Bonds $201,166,746 16 Shall the State of Alaska issue its general obligation bonds in 17 the principal amount of not more than $201,166,746 for the 18 purpose of paying for the cost of design, construction, and 19 major maintenance of educational and museum facilities? 20 Bonds Yes [ ] 21 Bonds No [ ] 22 * Sec. 10. This Act takes effect immediately under AS 01.10.070(c).