00                      CS FOR SENATE BILL NO. 255(RES)                                                                   
01 "An Act approving an exchange of land between the state and Gold Cord Development                                       
02 Corporation; and providing for an effective date."                                                                      
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  The uncodified law of the State of Alaska is amended by adding a new section                         
05 to read:                                                                                                                
06       PURPOSE OF SECTION 2 OF THIS ACT.  The purpose of sec. 2 of this Act is to                                        
07 approve the final agreement for the exchange of land between the State of Alaska, Department                            
08 of Natural Resources, and Gold Cord Development Corporation, dated January 18, 2002.  The                               
09 land to be acquired by the state under the agreement is located adjacent to the Independence                            
10 Mine State Historical Park.  The appraised fair market value of the land to be exchanged is                             
11 unequal.  AS 38.50.020 requires the submission of a land exchange agreement for legislative                             
12 review and approval if the agreement involves the exchange of land of other than equal                                  
13 appraised fair market value.  The Department of Natural Resources has determined that the                               
14 value of the land to be received by the state under the agreement exceeds the value of the state                        

01 land relinquished.                                                                                                      
02    * Sec. 2.  The uncodified law of the State of Alaska is amended by adding a new section to                         
03 read:                                                                                                                   
04       APPROVAL OF AGREEMENT AND LAND EXCHANGE.  The final agreement for                                                 
05 the exchange of land between the State of Alaska, Department of Natural Resources, and                                  
06 Gold Cord Development Corporation, dated January 18, 2002, is approved.  The approval of                                
07 the final agreement authorizes the exchange of state-owned land and land to be acquired by                              
08 the state for land owned by Gold Cord Development Corporation, as specified in the approved                             
09 final agreement.                                                                                                        
10    * Sec. 3.  This Act takes effect immediately under AS 01.10.070(c).