CSHB 562(FIN): "An Act relating to the establishment of the Interior Rivers Port Authority; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 562(FIN) 01 "An Act relating to the establishment of the Interior Rivers Port Authority; and 02 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 FINDINGS AND PURPOSE. (a) The Alaska State Legislature finds that 07 (1) certain communities and residents on the Yukon River, Kuskokwim River, 08 and Tanana River desire the establishment of a port authority to provide an organization for 09 economic development, transportation system infrastructure development, natural resource 10 marketing, and promotion of efficient energy development and distribution; 11 (2) since many of the communities in the region are not organized 12 municipalities, those communities cannot form a port authority under the Municipal Port 13 Authority Act (AS 29.35.600 - 29.35.730); 14 (3) it is in the best interest of the state to establish a state port authority for the
01 Interior Rivers region of the state to promote economic self-sufficiency in the region. 02 (b) The purpose of this Act is to establish the Interior Rivers Port Authority to provide 03 an organization that residents and communities in the region encompassing portions of the 04 Yukon, Kuskokwim, and Tanana Rivers may use to finance and manage transportation, 05 energy, and economic development infrastructure projects that will improve economic 06 conditions in the region and promote resource development and visitor industry opportunities 07 in the region. 08 * Sec. 2. AS 30 is amended by adding a new chapter to read: 09 Chapter 21. Interior Rivers Port Authority. 10 Article 1. Creation and Organization. 11 Sec. 30.21.010. Interior Rivers Port Authority. (a) The Interior Rivers Port 12 Authority is established as a public corporation of the state. The corporation is an 13 instrumentality of the state in the Department of Community and Economic 14 Development but has a legal existence independent of and separate from the state and 15 has continuing succession until its existence is terminated by law. 16 (b) The powers of the authority are vested in the board of directors of the 17 authority. 18 (c) The purpose of the authority is to improve, establish, and develop facilities 19 and operations to provide transportation, energy, regional waste disposal, and other 20 infrastructure services and economic development in the operating area of the 21 authority. 22 Sec. 30.21.020. Board of directors. (a) The board of directors of the 23 authority consists of eleven voting members. 24 (b) The governor shall appoint nine persons to serve on the board. The 25 governor shall solicit nominations for persons to be appointed to the board from 26 private persons and public and private entities, including: the Kuskokwim 27 Corporation, Calista Corporation, Kuskokwim Native Association, Tanana Chiefs 28 Conference, MTNT Limited, Doyon, Limited, and Gana-A'Yoo, Limited. Six of the 29 appointed members of the board shall be officers, directors, or employees of private 30 entities that have a physical presence within the area of operation of the authority. 31 (c) The commissioner of community and economic development and the
01 commissioner of transportation and public facilities are voting members of the board. 02 Each commissioner may designate a person to serve on the board in the 03 commissioner's absence. 04 (d) The appointed members of the board serve for staggered terms of three 05 years. The terms of the appointed members begin on January 1. 06 Sec. 30.21.030. Removal and replacement of members. The members of 07 the board serve at the pleasure of the governor. A person appointed to fill a vacancy 08 on the board shall serve for the balance of the unexpired term. 09 Sec. 30.21.040. Per diem and travel expenses. A member of the board may 10 receive per diem and travel expenses authorized for boards and commissions under 11 AS 39.20.180. 12 Sec. 30.21.050. Meetings. (a) The board shall hold at least four regular 13 meetings each year. The board shall set the schedule and locations for meetings of the 14 board. 15 (b) The board may hold special meetings at the call of the chair or at the 16 request of three members of the board. 17 Sec. 30.21.060. Officers and quorum. (a) The board shall elect a chair and a 18 vice-chair from among its members. 19 (b) The board shall elect a secretary, who need not be a member of the board. 20 The secretary serves at the pleasure of the board. 21 (c) Six members of the board constitute a quorum. Action may be taken and 22 motions and resolutions adopted by the board at a meeting by the affirmative vote of at 23 least six members. Members may not vote by proxy. A vacancy in the membership of 24 the board does not impair the right of a quorum to exercise all the powers and perform 25 all the duties of the board. 26 (d) Members may participate in meetings of the board by electronic means. 27 Sec. 30.21.070. Staff; legal advisor. (a) The board shall employ officers and 28 employees as necessary for the efficient operation of the authority. 29 (b) The board may employ executive, administrative, and fiscal officers and 30 employees as the board considers necessary for the efficient management of the 31 authority.
01 (c) The attorney general is the legal counsel for the authority. The attorney 02 general shall advise the authority in legal matters and represent the authority in suits. 03 Sec. 30.21.080. Operating area of the authority. The authority is authorized 04 to operate within the contiguous area enclosed by a line that is at all points 10 miles 05 inland of the mean high water line of the shore that is generally the northern bank of 06 the main channel of the Yukon River from the municipality of Russian Mission to a 07 point 10 miles north of the E. L. Patton Bridge; a line from a point 10 miles north of 08 the E. L. Patton Bridge to a point 10 miles south of the E. L. Patton Bridge; a line 09 from a point 10 miles south of the E. L. Patton Bridge to the easternmost point of the 10 boundary of the municipality of Nenana that crosses the Tanana River; a line from the 11 easternmost point of the boundary of the municipality of Nenana that crosses the 12 Tanana River to the nearest point of the drainage of the North Fork of the Kuskokwim 13 River and then southerly and westerly along the boundary of the drainage of the North 14 Fork of the Kuskokwim River to a point 10 miles south of the mean high water line of 15 the southern bank of the main channel of the North Fork of the Kuskokwim River at 16 the community of Medfra; a line that is at all points 10 miles south of the mean high 17 water line of the southern bank of the main channel of the North Fork of the 18 Kuskokwim River and the main channel of the Kuskokwim River between the 19 community of Medfra and the municipality of Lower Kalskag; a line between a point 20 10 miles south of the mean high water line of the southern bank of the main channel of 21 the Kuskokwim River at the municipality of Lower Kalskag and a point 10 miles 22 inland of the mean high water line of the shore that is generally the southern bank of 23 the main channel of the Yukon River at the municipality of Russian Mission; a line 24 that is at all points 10 miles inland from the mean high water line of the shore that is 25 generally the southern bank of the main channel of the Yukon River between the 26 municipality of Russian Mission and the municipality of Marshall; a line from a point 27 10 miles inland from the mean high water line of the shore that is generally the 28 southern bank of the main channel of the Yukon River at the municipality of Marshall 29 and a point 10 miles inland of the mean high water line of the shore that is generally 30 the northern bank of the main channel of the Yukon River at the municipality of 31 Marshall; and a line that is at all points 10 miles inland from the mean high water line
01 of the shore that is generally the northern bank of the main channel of the Yukon 02 River between the municipality of Marshall and the municipality of Russian Mission. 03 Sec. 30.21.090. Regulations. The board may adopt regulations under 04 AS 44.62 to carry out its functions and the purposes of this chapter, including rules to 05 safeguard property owned by the authority and to protect employees and persons using 06 the authority's property or services. 07 Article 2. Powers and Duties. 08 Sec. 30.21.100. Powers and duties of authority. (a) In addition to other 09 powers granted in this chapter, the authority may 10 (1) sue and be sued; 11 (2) adopt and alter an official seal; 12 (3) maintain an office in the state; 13 (4) acquire, hold, use, and dispose of its money, subject to 14 appropriation by the legislature; 15 (5) acquire, hold, use, lease, rent, construct, and dispose of property for 16 its purposes; 17 (6) exercise the power of eminent domain within the operating area of 18 the authority; 19 (7) issue revenue bonds under AS 30.21.200 - 30.21.320 to provide 20 financing for projects; 21 (8) enter into agreements to provide transportation, energy, regional 22 waste disposal, marketing, facilities and services, and to provide coordinated training 23 in association with authority facilities and operations; 24 (9) enter into contracts or other transactions with any federal, state, 25 municipal, or other agency, or instrumentality, private organization, or person 26 consistent with the exercise of any powers of the authority under this chapter; 27 (10) charge and collect those rents, rates, fees, or other charges that are 28 necessary to pay for capital, maintenance, and operating costs of the services and 29 facilities and operations of the authority, for the establishment of reserves to secure 30 payment of bonds or notes or interest on bonds or notes, and for repairs, 31 improvements, storage, and care of personal property made or furnished by the
01 authority in connection with the facilities and operations of the authority; 02 (11) accept money, gifts, loans, or grants from any federal, state, 03 municipal, or other agency or instrumentality, private organization, or other person; 04 and 05 (12) do all acts necessary to carry out this chapter that are not 06 expressly prohibited by law. 07 (b) The authority shall 08 (1) operate, manage, plan, improve, market, construct, and maintain 09 the facilities and operations of the authority; and 10 (2) adopt and enforce 11 (A) bylaws of the authority; 12 (B) regulations for the conduct of its business and for the use of 13 its facilities, operations, and services; 14 (C) personnel rules necessary to establish a system of personnel 15 administration. 16 (c) The resources of the authority may not be used to finance or influence 17 political activities. 18 Sec. 30.21.110. Public nature of authority activities. The planning, 19 construction, improvement, maintenance, and operation of a facility or operation, 20 whether by the authority separately or jointly with a federal, state, or municipal agency 21 or a private entity, and the exercise of other powers granted to the authority are public 22 and governmental functions exercised for a public purpose and matters of public 23 necessity. Land and other property and privileges acquired and used by or on behalf 24 of the authority for the purposes enumerated in this chapter are acquired and used for 25 public and governmental purposes and as a matter of public necessity. 26 Sec. 30.21.120. Acquisition of land and easements. Within the operating 27 area of the authority, the authority may acquire by purchase, gift, grant, or exchange 28 land in fee simple or easements, either temporary or permanent, that the authority 29 considers necessary for present or future public use authorized under this chapter. By 30 the same means, the authority may obtain material, including clay, gravel, sand, 31 timber, rock, or other material, and the land necessary to obtain the material. When
01 the authority declares that it is in the best public interest of the state to do so, the 02 authority may acquire by purchase, gift, grant, or exchange land or an interest in land 03 for the purpose of exchanging the land or interest in land for land or an interest in land 04 that the authority is authorized by law to acquire. 05 Sec. 30.21.130. Eminent domain. (a) The authority may exercise the power 06 of eminent domain under AS 09.55.240 - 09.55.460 to acquire private or public land 07 or an interest in private or public land within the operating area of the authority for 08 facilities or operations consistent with this chapter. Notwithstanding AS 09.55.250, 09 the authority may acquire a fee simple title whenever, in the judgment of the authority, 10 ownership of a fee simple title is necessary to carry out the purposes of this chapter. 11 (b) The authority may file a declaration of taking in the manner provided for 12 the state under AS 09.55.420. 13 (c) The power of eminent domain conferred under this section includes the 14 power to obtain clay, gravel, sand, timber, rock, or other material for the projects of 15 the authority, the land necessary to obtain the material, and access to the land and 16 material. 17 (d) The exercise of the power of eminent domain requires the prior approval 18 of the governor. 19 Sec. 30.21.140. Indemnification. (a) If the person acted in good faith on 20 behalf of the authority and within the scope of the person's official duties or powers, 21 the authority may defend and indemnify a current or former member of the board, 22 employee, or agent of the authority against all costs, expenses, judgments, and 23 liabilities, including attorney fees, incurred by or imposed upon that person in 24 connection with a civil or criminal action in which the person is involved by affiliation 25 with the authority. 26 (b) The authority may purchase insurance to protect and hold personally 27 harmless its board members, employees, and agents from an action, claim, or 28 proceeding arising out of the performance, purported performance, or failure of 29 performance, in good faith, of duties for, or employment with, the authority and to 30 hold them harmless from expenses connected with the defense, settlement, or 31 monetary judgments from that action, claim, or proceeding. The purchase of
01 insurance is discretionary with the board, and insurance is not considered to be 02 compensation to the insured person. 03 Sec. 30.21.150. Insurance. Except as provided in AS 30.21.140(b), the 04 authority shall protect its assets, services, and employees by purchasing insurance or 05 providing for certain self-insurance retentions. The authority shall also maintain 06 casualty, property, and other insurance in amounts reasonably calculated to cover 07 potential claims against the authority or state for bodily injury, death, or disability and 08 property damage that may arise from or be related to authority operations and 09 activities. 10 Sec. 30.21.160. Fidelity bond. The authority shall obtain a fidelity bond in an 11 amount determined by the board for members of the board and for each executive 12 officer responsible for accounts and finances. A bond must be in effect during the 13 entire tenure in office of the bonded person. 14 Article 3. Revenue Bonds and Notes. 15 Sec. 30.21.200. Bonds and notes of the authority. (a) The authority, by 16 resolution, may issue revenue bonds and bond anticipation notes in order to finance 17 projects under this chapter. Before issuing bonds for a project under this chapter, the 18 authority must find, on the basis of all information reasonably available to the 19 authority, that 20 (1) the project and its development under this chapter will be 21 economically advantageous to the state and the region and the general public welfare 22 and will contribute to the economic growth of the state and the region within which 23 the authority operates; 24 (2) the project is financially sound and can be expected to produce 25 revenue adequate to repay the bonds with which it is financed; and 26 (3) the scope of the project is sufficient to provide a reasonable 27 expectation of a benefit to the region and the economy of the state. 28 (b) The principal and interest on the revenue bonds or bond anticipation notes 29 authorized and issued under (a) of this section are payable from authority funds. Bond 30 anticipation notes may be payable from the proceeds of the sale of bonds or from the 31 proceeds of the sale of other bond anticipation notes or, in the event bond or bond
01 anticipation note proceeds are not available, the notes may be paid from other funds or 02 assets of the authority. 03 (c) Bonds or bond anticipation notes may be additionally secured by a pledge 04 of a grant or contribution from the federal government, or a corporation, association, 05 institution, or person, or a pledge of money, income, or revenue of the authority from 06 any source. 07 (d) Bonds or bond anticipation notes of the authority may be issued in one or 08 more series and shall be dated, bear interest at the rate or rates a year or within the 09 maximum rate, be in the denomination, be in the form, carry the conversion or 10 registration provisions, have the rank or priority, be executed in the manner and form, 11 be payable at the times, from the sources, and in the medium of payment and place or 12 places within or outside the state, be subject to authentication by a trustee or fiscal 13 agent, and be subject to the terms of redemption with or without premium, as the 14 resolution of the authority may provide. Bond anticipation notes shall mature at the 15 time or times that are determined by the authority. Bonds shall mature at a time not 16 exceeding a number of years from their date that is determined by the authority. 17 Before the preparation of bonds or bond anticipation notes, the authority may issue 18 interim receipts or temporary bonds or bond anticipation notes exchangeable for bonds 19 or bond anticipation notes when these bonds or bond anticipation notes have been 20 executed and are available for delivery. 21 (e) Bonds or bond anticipation notes may be sold in the manner and on the 22 terms the authority determines. 23 (f) If an officer whose signature or a facsimile of whose signature appears on a 24 bond or note ceases to be an officer before the delivery of the bond or note, the 25 signature or facsimile is valid to the same extent as if the officer had remained in 26 office until delivery. 27 Sec. 30.21.210. Covenants. In a resolution of the authority authorizing or 28 relating to the issuance of bonds or bond anticipation notes, the authority has power by 29 provisions in the resolution that will constitute covenants of the authority and 30 contracts with the holders of the bonds or bond anticipation notes to 31 (1) pledge to a payment or purpose all or a part of its revenue to which
01 its right then exists or may thereafter come into existence, and the money derived from 02 the revenue, and the proceeds of bonds or notes; 03 (2) covenant as to the use and disposition of payments of principal or 04 interest received by the authority on loans or other investments held by the authority; 05 (3) covenant as to establishment of reserves or sinking funds and the 06 making of provision for and the regulation and disposition of the reserves or sinking 07 funds; 08 (4) covenant with respect to or against limitations on a right to sell or 09 otherwise dispose of property of any kind; 10 (5) covenant as to bonds and notes to be issued, and their limitations, 11 terms, and conditions, and as to the custody, application, and disposition of the 12 proceeds of the bonds and notes; 13 (6) covenant as to the issuance of additional bonds or notes, or as to 14 limitations on the issuance of additional bonds or notes and the incurring of other 15 debts; 16 (7) covenant as to the payment of the principal of or interest on the 17 bonds or notes, as to the sources and methods of the payment, as to the rank or priority 18 of the bonds or notes with respect to a lien or security, or as to the acceleration of the 19 maturity of the bonds or notes; 20 (8) provide for the replacement of lost, stolen, destroyed, or mutilated 21 bonds or notes; 22 (9) covenant as to the redemption of bonds or notes and privileges of 23 their exchange for other bonds or notes of the authority; 24 (10) covenant to create or authorize the creation of special funds of 25 money to be held in pledge or otherwise for operating expenses, payment or 26 redemption of bonds or notes, reserves, or other purposes; 27 (11) establish the procedure, if any, by which the terms of a contract or 28 covenant with or for the benefit of the holders of bonds or notes may be amended or 29 abrogated, the amount of bonds or notes the holders of which must consent to 30 amendment or abrogation, and the manner in which the consent may be given; 31 (12) covenant as to the custody of property or investments, their
01 safekeeping and insurance, and the use and disposition of insurance money; 02 (13) agree with a corporate trustee that may be a trust company or 03 bank having the powers of a trust company within or outside the state as to the 04 pledging or assigning of revenue or funds to which or in which the authority has rights 05 or an interest; the agreement may further provide for other rights and remedies 06 exercisable by the trustee as may be proper for the protection of the holders of a bond 07 or note of the authority and not otherwise in violation of law and may provide for the 08 restriction of the rights of an individual holder of bonds or notes of the authority; 09 (14) appoint and provide for the duties and obligations of a paying 10 agent or paying agents or other fiduciaries as the resolution may provide within or 11 outside the state; 12 (15) limit the rights of the holders of a bond or note to enforce a pledge 13 or covenant securing the bonds or notes; 14 (16) make covenants other than and in addition to the covenants 15 expressly authorized in this section of like or different character, and to make 16 covenants to do or refrain from doing acts and things as may be necessary or 17 convenient and desirable in order to better secure bonds or notes or that, in the 18 absolute discretion of the authority, will tend to make bonds or notes more marketable, 19 notwithstanding that the covenants, acts, or things may not be enumerated in this 20 section. 21 Sec. 30.21.220. Limitations of issuance of bonds. (a) The authority may 22 issue bonds in an amount greater than $10,000,000 to assist in the financing of a 23 capital improvement under this chapter only with the prior approval of the legislature 24 by law. 25 (b) This section does not apply to the issuance by the authority of refunding 26 bonds under AS 30.21.290. 27 Sec. 30.21.230. Independent financial advisor. In negotiating the sale of 28 bonds or bond anticipation notes to an underwriter, the authority may retain a financial 29 advisor. A financial advisor retained under this section must be independent from the 30 underwriter. 31 Sec. 30.21.240. Validity of pledge. (a) The pledge of assets or revenue of the
01 authority to the payment of the principal of or interest on an obligation of the authority 02 is valid and binding from the time the pledge is made, and the assets or revenue 03 become immediately subject to the lien of the pledge without physical delivery or 04 further act. The lien of a pledge is valid and binding against all parties having claims 05 in tort, contract, or otherwise against the authority, irrespective of whether those 06 parties have notice of the lien of the pledge. 07 (b) This section does not prohibit the authority from selling assets subject to a 08 pledge, except that a sale may be restricted by the trust agreement or resolution 09 providing for the issuance of the obligations. 10 Sec. 30.21.250. Capital reserve funds. (a) For the purpose of securing one 11 or more issues of its obligations, the authority may establish one or more special 12 funds, called "capital reserve funds," and shall pay into those capital reserve funds (1) 13 money appropriated and made available by the state for the purpose of those funds, (2) 14 proceeds of the sale of its obligations, to the extent provided in the resolution or 15 resolutions of the authority authorizing their issuance, and (3) other money that may 16 be made available to the authority for the purpose of those funds from another source. 17 All money held in a capital reserve fund, except as provided in this section, shall, 18 subject to appropriation, be used as required solely for the payment of the principal of 19 obligations or of the sinking fund payments with respect to those obligations, the 20 purchase or redemption of obligations, the payment of interest on obligations, or the 21 payment of a redemption premium required to be paid when those obligations are 22 redeemed before maturity. However, money in a fund may not be withdrawn from 23 that fund at any time in an amount that would reduce the amount of that fund to less 24 than the capital reserve requirement set out in (b) of this section, except for the 25 purpose of making, with respect to those obligations, payment, when due, of principal, 26 interest, redemption premiums, and the sinking fund payments for the payment of 27 which other money of the authority is not available. Income or interest earned by, or 28 increment to, a capital reserve fund due to the investment of the fund or other amounts 29 in it may be transferred by the authority to other funds or accounts of the authority to 30 the extent that the transfer does not reduce the amount of the capital reserve fund 31 below the capital reserve fund requirement.
01 (b) If the authority decides to issue obligations secured by a capital reserve 02 fund, the obligations may not be issued if the amount in the capital reserve fund is less 03 than a percent, not exceeding 10 percent, of the principal amount of all of those 04 obligations secured by that capital reserve fund then to be issued and then outstanding 05 in accordance with their terms, as may be established by resolution of the authority, 06 called the "capital reserve fund requirement," unless the authority, at the time of 07 issuance of the obligations, deposits in the capital reserve fund from the proceeds of 08 the obligations to be issued or from other sources an amount that, together with the 09 amount then in the fund, will not be less than the capital reserve fund requirement. 10 (c) In computing the amount of a capital reserve fund for the purpose of this 11 section, securities in which all or a portion of the funds are invested shall be valued at 12 par or, if purchased at less than par, at amortized costs as the term is defined by 13 resolution of the authority authorizing the issue of the obligations or by some other 14 reasonable method established by the authority by resolution. Valuation on a 15 particular date must include the amount of interest earned or accrued to that date. 16 (d) To assure the continued operation and solvency of the authority for the 17 carrying out of its corporate purposes, provision is made in (a) of this section for the 18 accumulation in capital reserve funds of an amount equal to their capital reserve fund 19 requirement. 20 (e) This section does not create a debt or liability of the state. 21 Sec. 30.21.260. Remedies. A holder of obligations issued under the 22 provisions of this chapter, and a trustee under a trust agreement or resolution 23 authorizing the issuance of the obligations, except as restricted by a trust agreement or 24 resolution, either at law or in equity, may enforce all rights granted hereunder or under 25 the trust agreement or resolution, or under another contract executed by the authority 26 under this chapter, and may enforce and compel the performance of all duties required 27 by this chapter or by the trust agreement or resolution to be performed by the authority 28 or by an officer of the authority. 29 Sec. 30.21.270. Negotiable instruments. All obligations are negotiable 30 instruments under the laws of this state, subject only to applicable provisions for 31 registration.
01 Sec. 30.21.280. Obligations eligible for investment. Obligations issued 02 under the provisions of this chapter are securities in which all public officers and 03 public bodies of the state and its political subdivisions, all insurance companies, trust 04 companies, banking associations, investment companies, executors, administrators, 05 trustees, and other fiduciaries may properly and legally invest funds, including capital 06 in their control or belonging to them. These obligations may be deposited with a state 07 or municipal officer of an agency or political subdivision of the state for a purpose for 08 which the deposit of bonds, notes, or obligations of the state is authorized by law. 09 Sec. 30.21.290. Refunding bonds. (a) The authority may provide for the 10 issuance of refunding bonds for the purpose of refunding an obligation then 11 outstanding that has been issued under the provisions of this chapter, including the 12 payment of redemption premium on them and interest accrued or to accrue to the date 13 of redemption of the obligations. The issuance of the bonds, the maturities and other 14 details of them, the rights of the holders of them, and the rights, duties, and obligations 15 of the authority in respect of them are governed by the provisions of this chapter that 16 relate to the issuance of obligations insofar as those provisions may be appropriate. 17 (b) Refunding bonds may be sold or exchanged for outstanding bonds issued 18 under this chapter, and, if sold, the proceeds may be applied, subject to appropriation 19 and in addition to another authorized purpose, to the purchase, redemption, or payment 20 of the outstanding obligations. Pending the application of the proceeds of refunding 21 bonds, with any other available funds, to the payment of the principal of, accrued 22 interest on, and redemption premium on the obligations being refunded, and, if so 23 provided or permitted in the resolution authorizing the issuance of the refunding bonds 24 or in the trust agreement securing them, to the payment of any interest on the 25 refunding bonds and expenses in connection with the refunding, the proceeds may be 26 invested in direct obligations of, or obligations the principal of and the interest on 27 which are unconditionally guaranteed by, the United States that mature or that will be 28 subject to redemption, at the option of the holders of them, not later than the respective 29 dates when the proceeds, together with the interest accruing on them, will be required 30 for the purposes intended. 31 Sec. 30.21.300. Credit of state not pledged. (a) Obligations issued under
01 the provisions of this chapter do not constitute a debt, liability, or obligation of the 02 state or of a political subdivision of the state or a pledge of the faith and credit of the 03 state or of a political subdivision of the state but are payable solely from the revenue 04 or assets of the authority. Each obligation issued under this chapter must contain on 05 its face a statement that the authority is not obligated to pay the obligation or the 06 interest on the obligation except from the revenue or assets of the authority and that 07 neither the faith and credit nor the taxing power of the state or of a political 08 subdivision of the state is pledged to the payment of the principal of or the interest on 09 the obligation. 10 (b) Expenses incurred by the authority in carrying out the provisions of this 11 chapter are payable from funds provided under this chapter, and liability may not be 12 incurred by the authority in excess of these funds. 13 Sec. 30.21.310. Officers not liable. A member or other officer of the 14 authority is not subject to personal liability or accountability by reason of having 15 executed or issued an obligation. 16 Sec. 30.21.320. Tax exemption. All obligations issued under this chapter are 17 declared to be issued by a body corporate and public of the state and for an essential 18 public and governmental purpose, and the obligations, and the interest and income on 19 and from the obligations, and all fees, charges, funds, revenue, income, and other 20 money pledged or available to pay or secure the payment of the obligations, or interest 21 on the obligations, are exempt from state taxation except for transfer, inheritance, and 22 estate taxes. 23 Article 4. Fiscal Procedures. 24 Sec. 30.21.350. Authority program and financial plan. (a) The authority 25 shall assure the development of a system of results-based operation designed to 26 increase efficiency and effectiveness of facilities, operations, programs, and services 27 of the authority. Toward that end, the authority shall, on an annual basis, identify 28 results-based measures that have been used to work toward achievement of the 29 mission statement and desired results issued by the legislature and of other goals of the 30 authority, and set out the results as measured. The authority shall also prepare a public 31 report that shall be published by January 2 of each year. The report must
01 (1) identify the mission of the authority; 02 (2) identify the goals and objectives the authority will use to achieve 03 the legislature's mission and desired results; 04 (3) include written, defined methods of measuring results that apply to 05 the responsibilities, products, and services of the authority; 06 (4) identify surveys or other methods of gathering user-group opinions 07 that have been used by the authority to identify ways to improve its programs; 08 (5) identify methods of measuring performance when the mission 09 statement and desired results of the authority involve cooperation with other public or 10 private agencies and make recommendations to eliminate duplication of government 11 functions and waste; 12 (6) include the budget requested to carry out the authority's proposed 13 plans in the succeeding fiscal year, including information reflecting the expenditures 14 during the last fiscal year, the expenditures authorized for the current fiscal year, the 15 expenditures proposed for the succeeding fiscal year, an explanation of the services to 16 be provided, the total number of positions for all persons employed or under contract 17 by the agency for personal services, including those rendered for capital improvement 18 projects, the need for the services, and the cost of the services; 19 (7) include a report of receipts of the authority during the last fiscal 20 year, an estimate of receipts during the current fiscal year, and an estimate of receipts 21 for the succeeding fiscal year; 22 (8) identify legislation required to implement the proposed programs 23 and financial plans; 24 (9) include an evaluation of the advantages and disadvantages of 25 specific alternatives to existing or proposed activities or administrative methods of the 26 authority. 27 (b) The report prepared under (a) of this section must describe the relationship 28 of the services provided by the authority to those services provided by other 29 government agencies and nongovernmental organizations. 30 (c) All goals and objectives, plans, programs, estimates, budgets, and other 31 documents forwarded to the governor by the authority under this section are public
01 information on and after the date they are forwarded. 02 Sec. 30.21.360. Program execution. The authority has power to administer 03 its programs and is responsible for the proper management of its facilities and 04 operations. 05 Sec. 30.21.370. Annual report. By January 2 of each year, the authority shall 06 prepare a concise report describing the operations, income, and expenditures for the 07 preceding fiscal year. The report must contain information substantially similar to that 08 required by the United States Securities and Exchange Commission Form 10-K. The 09 report must also include financial statements audited by an independent outside 10 auditor. 11 Sec. 30.21.380. Annual audit. The authority shall have a certified audit of its 12 financial records prepared annually by an independent certified public accountant. 13 Article 5. General Provisions. 14 Sec. 30.21.400. Authority employees. Employees of the authority are not 15 employees of the state. 16 Sec. 30.21.410. Application of existing laws. (a) Except as provided under 17 this chapter, or unless those provisions of law conflict with the provisions of this 18 chapter, the authority is subject to those provisions of law generally applicable to 19 public corporations of the state and to 20 (1) AS 40.25; 21 (2) AS 44.62.310 and 44.62.312. 22 (b) The provisions of AS 37.07 (Executive Budget Act) 23 (1) apply to the operating and capital budgets of the authority; 24 (2) do not apply to activities of the authority under this chapter that 25 relate to the authority's borrowing of money as provided in this chapter, including the 26 issuing of its obligations or evidence of that borrowing and the repayment of the debt 27 obligation. 28 (c) Unless specifically provided otherwise in this chapter, the following laws 29 do not apply to the operations of the authority: 30 (1) AS 36.30, except as provided in that chapter; 31 (2) AS 39.
01 Sec. 30.21.490. Definitions. In this chapter, unless the context requires 02 otherwise, 03 (1) "authority" means the Interior Rivers Port Authority; 04 (2) "board" means the board of directors of the authority; 05 (3) "bonds" means the bonds issued by the authority under this 06 chapter; 07 (4) "capital improvement" means a project for the construction, 08 rehabilitation, rebuilding, enlarging, or improving of a facility or operation, as 09 determined by the authority to be necessary or desirable for efficient management of 10 the facility or operation by the authority and to best serve the public; 11 (5) "facility or operation" means a facility or operation necessary for 12 the authority to carry out its mission. 13 Sec. 30.21.495. Short title. This chapter may be cited as the Interior Rivers 14 Port Authority Act. 15 * Sec. 3. AS 30.15.010 is amended to read: 16 Sec. 30.15.010. State grants for port facilities construction. To the extent 17 funds are appropriated by the legislature, or from the proceeds from the sale of bonds, 18 the state may make grants to municipalities and regional port authorities to finance a 19 portion of the cost of constructing local, regional, or state port facilities. The state 20 shall participate only in those projects approved by the governor on recommendation 21 of the commissioner. 22 * Sec. 4. AS 30.15.020 is amended to read: 23 Sec. 30.15.020. Criteria for establishing eligibility. (a) Before a grant may 24 be awarded under this chapter, the commissioner shall determine that 25 (1) the grant is for a feasible project; 26 (2) the project is endorsed by resolution of the board of directors of 27 the regional port authority or of the governing body of the sponsoring municipality 28 on its own behalf, or on behalf of a service area in an organized borough if a service 29 area is established to finance and construct port facilities and operate and maintain 30 them once constructed; and 31 (3) the regional port authority or the municipality can clearly
01 demonstrate its ability to finance the local share of project costs. 02 (b) A grant may not be awarded under this chapter for a port facility 03 development project until a study of its feasibility is conducted and submitted with the 04 application for the grant. The project also must be justifiable on the basis of public 05 convenience and necessity. The study shall be conducted by consultants, engineers, or 06 other technical experts, who may be officers or employees of the regional port 07 authority or the municipality [IN] making application for a grant. 08 * Sec. 5. AS 30.15.030 is amended to read: 09 Sec. 30.15.030. Limitation on grants. Grants to municipalities for the 10 development of port facilities may not exceed 11 (1) 90 per cent of project costs for municipalities under 5,000 12 population; 13 (2) 80 per cent of project costs for municipalities 5,000 population and 14 over. 15 * Sec. 6. AS 30.15.070 is amended by adding a new paragraph to read: 16 (5) "regional port authority" includes the Interior Rivers Port Authority 17 authorized under AS 30.21. 18 * Sec. 7. AS 36.30.015(e) is amended to read: 19 (e) The board of directors of the Alaska Railroad Corporation, the board of 20 directors of the Interior Rivers Port Authority, and the board of directors of the 21 Alaska Aerospace Development Corporation shall adopt procedures to govern the 22 procurement of supplies, services, professional services, and construction. The 23 procedures must be substantially equivalent to the procedures prescribed in this 24 chapter and in regulations adopted under this chapter. Notwithstanding the other 25 provisions of this subsection, the Alaska Railroad Corporation, the Interior Rivers 26 Port Authority, and the Alaska Aerospace Development Corporation shall comply 27 with AS 36.30.170(b), and, when the Department of Transportation and Public 28 Facilities authorizes the Alaska Railroad Corporation to perform construction work 29 instead of the Department of Transportation and Public Facilities, the Alaska Railroad 30 Corporation shall use competitive sealed bidding or competitive sealed proposals 31 under AS 36.30.100 - 36.30.270 to procure the supplies, services, professional
01 services, and construction services necessary for the work and, to ensure the state 02 obtains the lowest cost for the project, may submit a bid or proposal for the work. 03 * Sec. 8. AS 36.30.050(c) is amended to read: 04 (c) The lists may be used by the chief procurement officer or an agency when 05 issuing invitations to bid or requests for proposals under this chapter. The lists may be 06 used by the legislative council, the court system, the Interior Rivers Port Authority, 07 and the Alaska Railroad Corporation. 08 * Sec. 9. AS 36.30.990(1) is amended to read: 09 (1) "agency" 10 (A) means a department, institution, board, commission, 11 division, authority, public corporation, the Alaska Pioneers' Home, or other 12 administrative unit of the executive branch of state government; 13 (B) does not include 14 (i) the University of Alaska; 15 (ii) the Alaska Railroad Corporation; 16 (iii) the Alaska Housing Finance Corporation; 17 (iv) a regional Native housing authority created under 18 AS 18.55.996 or a regional electrical authority created under 19 AS 18.57.020; 20 (v) the Department of Transportation and Public 21 Facilities, in regard to the repair, maintenance, and reconstruction of 22 vessels, docking facilities, and passenger and vehicle transfer facilities 23 of the Alaska marine highway system; 24 (vi) the Alaska Aerospace Development Corporation; 25 (vii) the Alaska State Pension Investment Board; 26 (viii) the Alaska Seafood Marketing Institute; 27 (ix) the Interior Rivers Port Authority; 28 * Sec. 10. AS 37.05 is amended by adding a new section to article 1 to read: 29 Sec. 37.05.055. Delegation to the Interior Rivers Port Authority. The 30 commissioner of administration may delegate the performance of the functions under 31 this chapter as they relate to the Interior Rivers Port Authority to the authority and set
01 the criteria and guidelines that shall be followed. 02 * Sec. 11. AS 39.50.200(b) is amended by adding a new paragraph to read: 03 (58) board of directors of the Interior Rivers Port Authority 04 (AS 30.21.020). 05 * Sec. 12. AS 39.52.960(2) is amended to read: 06 (2) "agency" means a department, the office of the governor, or an 07 entity in the executive branch, including but not limited to the University of Alaska, 08 public or quasi-public corporations, boards or commissions, [AND] the Alaska 09 Railroad Corporation, and the Interior Rivers Port Authority; 10 * Sec. 13. AS 39.52.960(4) is amended to read: 11 (4) "board or commission" means a board, commission, authority, or 12 board of directors of a public or quasi-public corporation, established by statute in the 13 executive branch, including the Alaska Railroad Corporation and the Interior 14 Rivers Port Authority, but excluding members of a negotiated regulation making 15 committee under AS 44.62.710 - 44.62.800; 16 * Sec. 14. AS 39.52.960(12) is amended to read: 17 (12) "instrumentality of the state" means a state agency or 18 administrative unit, whether in the legislative, judicial, or executive branch, including 19 such entities as the University of Alaska, the Alaska Railroad Corporation, the 20 Interior Rivers Port Authority, and any public or quasi-public corporations, boards, 21 or commissions; the term includes municipalities; 22 * Sec. 15. AS 44.42.020(a) is amended to read: 23 (a) The department shall 24 (1) plan, design, construct, and maintain all state modes of 25 transportation and transportation facilities and all docks, floats, breakwaters, buildings, 26 and similar facilities; 27 (2) study existing transportation modes and facilities in the state to 28 determine how they might be improved or whether they should continue to be 29 maintained; 30 (3) study alternative means of improving transportation in the state 31 with regard to the economic costs of each alternative and its environmental and social
01 effects; 02 (4) develop a comprehensive, long-range intermodal transportation 03 plan for the state; 04 (5) study alternatives to existing modes of transportation in urban areas 05 and develop plans to improve urban transportation; 06 (6) cooperate and coordinate with and enter into agreements with 07 federal, state, and local government agencies and private organizations and persons in 08 exercising its powers and duties; 09 (7) manage, operate, and maintain state transportation facilities and all 10 docks, floats, breakwaters, and buildings, including all state highways, vessels, 11 railroads, pipelines, and airports [,] and aviation facilities other than ports and port 12 related transportation facilities and operations managed, operated, and 13 maintained by the Interior Rivers Port Authority under AS 30.21; 14 (8) study alternative means of transportation in the state, considering 15 the economic, social, and environmental effects of each alternative; 16 (9) coordinate and develop state and regional transportation systems, 17 considering deletions, additions, and the absence of alterations; 18 (10) develop facility program plans for transportation and state 19 buildings, docks, and breakwaters required to implement the duties set out in this 20 section, including but not limited to functional performance criteria and schedules for 21 completion; 22 (11) supervise and maintain all state automotive and mechanical 23 equipment, aircraft, and vessels, except vessels and aircraft used by the Department of 24 Fish and Game or the Department of Public Safety; for state vehicles maintained by 25 the department, the department shall annually evaluate the cost, efficiency, and 26 commercial availability of natural gas for automotive purposes, and the purpose for 27 which the vehicles are intended to be used, and convert or purchase vehicles to utilize 28 natural gas whenever practicable; the department may participate in joint ventures 29 with public or private partners that will foster the availability of natural gas for all 30 automotive fuel consumers; 31 (12) supervise aeronautics inside the state, under AS 02.10;
01 (13) complete and maintain a current inventory of public facilities, 02 including a projection of the serviceability of the facilities and projections of 03 replacements and additions to facilities needed to provide the level of services 04 programmed by the various user agencies, for municipalities with populations of less 05 than 12,000 and for unincorporated communities, and perform those duties on a 06 cooperative basis with larger municipalities; 07 (14) adopt energy performance standards for public facilities of the 08 state, the construction of which begins after July 1, 1980; the standards shall be based 09 on thermal and lighting energy standards established by the American Society of 10 Heating, Refrigeration and Air Conditioning Engineers as adapted for application in 11 high latitude, cold climate environs; 12 (15) provide planning assistance, including but not limited to energy 13 audits and related technical services, to school districts and regional educational 14 attendance areas to develop and implement 15 (A) standards for the design, construction, and operation of 16 rural educational facilities; and 17 (B) energy conservation measures for rural educational 18 facilities; 19 (16) implement the safety and financial responsibility requirements for 20 air carriers under AS 02.40; 21 (17) inspect weights and measures. 22 * Sec. 16. The uncodified law of the State of Alaska is amended by adding a new section to 23 read: 24 REGIONAL DEVELOPMENT PLAN. Within one year from the first meeting of the 25 board of directors of the Interior Rivers Port Authority, the board shall prepare and publish a 26 development plan for promoting economic self-sufficiency in the region in which the 27 authority operates. The development plan must include a description of the transportation, 28 energy, regional waste disposal, and tourism infrastructure needs of the region that are 29 necessary to promote regional economic self-sufficiency. The plan must also identify 30 opportunities for private resource development in the region, training programs that are 31 necessary to take advantage of current and future economic opportunities in the region,
01 tourism marketing strategies for the region, and sources of funding for operations and projects 02 of the authority. 03 * Sec. 17. The uncodified law of the State of Alaska is amended by adding a new section to 04 read: 05 INITIAL APPOINTMENTS. Notwithstanding AS 30.21.020, as added by sec. 2 of 06 this Act, and AS 39.05.055, the governor shall appoint the initial appointed members of the 07 board of directors of the Interior Rivers Port Authority to terms as follows: 08 (1) three members to terms of one year; 09 (2) three members to terms of two years; 10 (3) three members to terms of three years. 11 * Sec. 18. This Act takes effect July 1, 2004.