00                            HOUSE BILL NO. 184                                                                          
01 "An Act relating to the debt authorization of the University of Alaska."                                                
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1. AS 14.40.253 is amended to read:                                                                      
04            Sec. 14.40.253. Financing notice and approval. If the University of Alaska                                 
05       intends to enter into an obligation, except for refinancing obligations, under                                    
06       AS 14.40.040(a)(5) with an annual payment by the university anticipated to exceed                                 
07       $2,500,000 [$1,000,000], the university shall provide notice to the legislature. The                          
08       notice must include the anticipated annual payment amount, the anticipated financing,                             
09       and the total construction, acquisition, or other costs of the project. The university may                        
10       not enter into an obligation requiring a financing notice under this section, other than a                        
11       refinancing obligation, unless the project has been approved by the legislature by law.                           
12       An appropriation for the project does not constitute approval of the project for the                              
13       purpose of this section.