CSSB 217(FIN): "An Act relating to the issuance of state-guaranteed revenue bonds by the Alaska Housing Finance Corporation to finance mortgages for qualifying veterans; authorizing the Alaska Housing Finance Corporation to acquire the building that it occupies for an amount that does not exceed $14,500,000; authorizing the Alaska Housing Finance Corporation to acquire a building or purchase an undesignated site for the relocation of its public housing client intake and assisted housing center for an amount that does not exceed $3,500,000; and providing for an effective date."
00 CS FOR SENATE BILL NO. 217(FIN) 01 "An Act relating to the issuance of state-guaranteed revenue bonds by the Alaska 02 Housing Finance Corporation to finance mortgages for qualifying veterans; authorizing 03 the Alaska Housing Finance Corporation to acquire the building that it occupies for an 04 amount that does not exceed $14,500,000; authorizing the Alaska Housing Finance 05 Corporation to acquire a building or purchase an undesignated site for the relocation of 06 its public housing client intake and assisted housing center for an amount that does not 07 exceed $3,500,000; and providing for an effective date." 08 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 09 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 10 to read: 11 GUARANTEE OF REVENUE BONDS. For the purpose of assisting the Alaska 12 Housing Finance Corporation to provide money for the purchase under AS 18.56 of 13 mortgages made for residences for qualifying veterans, revenue bonds of the Alaska Housing
01 Finance Corporation are unconditionally guaranteed as to principal and interest by the state in 02 the principal amount of not more than $600,000,000. The full faith, credit, and resources of 03 the state are pledged to the payment of the principal of and interest on these bonds, and the 04 principal of and interest on the bonds are secured by the general obligation of the State of 05 Alaska. A statement of this pledge must be printed on the face of the bonds and must be 06 signed in manual or facsimile form by the governor. The provisions of AS 37.15 do not apply 07 to the bonds. The guarantee authorized by this section is in addition to the guarantees 08 authorized by sec. 5, ch. 35, SLA 1982; sec. 1, ch. 81, SLA 1983; sec. 1, ch. 115, SLA 1984; 09 sec. 1, ch. 134, SLA 1986; and sec. 1, ch. 34, SLA 2002. 10 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 11 read: 12 BOND AUTHORIZATION. If the question set out in sec. 4 of this Act is approved by 13 the qualified voters of the state who vote on the question, the Alaska Housing Finance 14 Corporation may issue not more than the principal amount of $600,000,000 of its revenue 15 bonds that are unconditionally guaranteed as to principal and interest by the state, the 16 proceeds of which are to be expended by the Alaska Housing Finance Corporation to provide 17 money for the purchase of mortgages made for residences for qualifying veterans. The 18 authorization in this section to issue bonds is in addition to the authorizations to issue bonds 19 that appear in sec. 6, ch. 35, SLA 1982; sec. 2, ch. 81, SLA 1983; sec. 2, ch. 115, SLA 1984; 20 sec. 2, ch. 134, SLA 1986; and sec. 2, ch. 34, SLA 2002. 21 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 22 read: 23 DEFINITION. As used in secs. 1, 2, and 4 of this Act, a "qualifying veteran" is a 24 person who is a "qualified veteran" as that term is defined, or may be subsequently defined, 25 under 26 U.S.C. 143. 26 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to 27 read: 28 BALLOT QUESTION. The question of the state guarantee of bonds referred to in this 29 Act shall be submitted to the qualified voters of the state at the first general election after the 30 effective date of this Act and shall read substantially as follows: 31 P R O P O S I T I O N
01 State Guaranteed Veterans $600,000,000 02 Residential Mortgage Bonds 03 Shall the State of Alaska unconditionally guarantee as a general 04 obligation of the state the payment of principal and interest on 05 revenue bonds of the Alaska Housing Finance Corporation 06 issued in the principal amount of not more than $600,000,000 07 for the purpose of purchasing mortgages made for residences 08 for qualifying veterans, as defined by law? 09 Bonds Yes [ ] 10 Bonds No [ ] 11 * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section to 12 read: 13 AUTHORIZING THE ALASKA HOUSING FINANCE CORPORATION TO 14 ACQUIRE OR PURCHASE CERTAIN BUILDINGS OR SITES. (a) The Alaska Housing 15 Finance Corporation is authorized to acquire the building in Anchorage that it occupies on the 16 effective date of this Act for an amount that does not exceed $14,500,000. 17 (b) The Alaska Housing Finance Corporation is authorized to acquire a building or 18 purchase an undesignated site for relocation of its public housing client intake and assisted 19 housing center in Anchorage, for an amount that does not exceed $3,500,000. 20 (c) This section constitutes the approval required by AS 18.55.100(d) and 21 AS 18.56.090(d) for the acquisition or purchase as described in (a) and (b) of this section. 22 * Sec. 6. This Act takes effect immediately under AS 01.10.070(c).