HB 504: "An Act relating to the purchase by the Alaska Housing Finance Corporation of a parking garage in Anchorage, Alaska and approving the issuance of bonds for the purchase of that parking garage; providing notice of, and authorizing the commissioner of the Department of Administration to enter into, a lease-purchase agreement with the Alaska Housing Finance Corporation for that parking garage; and providing for an effective date."
00 HOUSE BILL NO. 504 01 "An Act relating to the purchase by the Alaska Housing Finance Corporation of a 02 parking garage in Anchorage, Alaska and approving the issuance of bonds for the 03 purchase of that parking garage; providing notice of, and authorizing the commissioner 04 of the Department of Administration to enter into, a lease-purchase agreement with the 05 Alaska Housing Finance Corporation for that parking garage; and providing for an 06 effective date." 07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 08 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 09 to read: 10 FINDINGS AND PURPOSE. (a) There is insufficient parking available for the 11 Atwood Office Building in downtown Anchorage, Alaska, and the purchase of a new parking 12 garage to provide parking for the Atwood Office Building would serve a public purpose. 13 (b) The purpose of this Act is to
01 (1) authorize the Alaska Housing Finance Corporation to finance the purchase 02 of a parking garage for the Atwood Office Building; and 03 (2) provide notice of, and authorize the commissioner of the Department of 04 Administration to enter into, a lease with the Alaska Housing Finance Corporation for that 05 parking garage. 06 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 07 read: 08 LEGISLATIVE AUTHORIZATION FOR PURCHASE AND BONDS. (a) The 09 Alaska Housing Finance Corporation is authorized to finance under AS 18.55.010 - 10 18.55.290, with bond proceeds, the purchase of a parking garage in Anchorage, Alaska, to be 11 leased to the state to provide parking for the Atwood Office Building. The maximum amount 12 of the purchase price of the parking garage may not exceed $44,000,000, including the costs 13 of purchasing the facility and issuing the bonds for the purchase. 14 (b) The Alaska Housing Finance Corporation is authorized to issue bonds under 15 AS 18.55.100(a)(15) and (d) for the purchase of the parking garage described in (a) of this 16 section. The bonds may have a term not to exceed 21 years. 17 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 18 read: 19 LEGISLATIVE NOTICE OF AND AUTHORIZATION FOR LEASE-PURCHASE 20 AGREEMENT. Subject to annual appropriation, the commissioner of the Department of 21 Administration is authorized to enter into a lease-purchase agreement for the parking garage 22 described in sec. 2 of this Act. The anticipated total cost of the project is $44,000,000. The 23 anticipated annual amount of the rental obligation is $3,700,000. The total lease payments for 24 the full term of the lease-purchase agreement is anticipated to be $77,700,000. 25 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to 26 read: 27 APPROVAL OF FINANCING AND AGREEMENT. (a) Section 2 of this Act 28 constitutes the approval for the financing of the public building project described in sec. 2 of 29 this Act required by AS 18.55.100(d). 30 (b) Section 3 of this Act constitutes the notice and approval of the lease-purchase 31 agreement described in sec. 3 of this Act required by AS 36.30.085.
01 * Sec. 5. This Act takes effect immediately under AS 01.10.070(c).