CSHB 103(FIN): "An Act relating to the quorum of the Alaska Energy Authority; relating to the powers and duties of the Alaska Energy Authority; relating to the acquisition or construction of a Susitna River power project by the Alaska Energy Authority; relating to the definition of 'feasibility study' in the Alaska Energy Authority Act; providing legislative approval for certain loans from the power project fund; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 103(FIN) 01 "An Act relating to the quorum of the Alaska Energy Authority; relating to the powers 02 and duties of the Alaska Energy Authority; relating to the acquisition or construction of 03 a Susitna River power project by the Alaska Energy Authority; relating to the definition 04 of 'feasibility study' in the Alaska Energy Authority Act; providing legislative approval 05 for certain loans from the power project fund; and providing for an effective date." 06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 07 * Section 1. AS 44.83.040(a) is amended to read: 08 (a) The chair and vice-chair of the Alaska Industrial Development and Export 09 Authority shall serve as officers of the Alaska Energy Authority. The powers of the 10 Alaska Energy Authority are vested in the directors, and four [THREE] directors of 11 the authority constitute a quorum. Action may be taken and motions and resolutions 12 adopted by the Alaska Energy Authority at a meeting by the affirmative vote of a 13 majority of the directors. The directors of the Alaska Energy Authority serve without
01 compensation, but they shall receive the same travel pay and per diem as provided by 02 law for board members under AS 39.20.180. 03 * Sec. 2. AS 44.83.080 is amended to read: 04 Sec. 44.83.080. Powers of the authority. In furtherance of its corporate 05 purposes, the authority has the following powers in addition to its other powers: 06 (1) to sue and be sued; 07 (2) to have a seal and alter it at pleasure; 08 (3) to make and alter bylaws for its organization and internal 09 management; 10 (4) to adopt regulations governing the exercise of its corporate powers; 11 (5) to improve, equip, operate, and maintain power projects and bulk 12 fuel, waste energy, energy conservation, energy efficiency, and alternative energy 13 facilities and equipment; 14 (6) to issue bonds to carry out any of its corporate purposes and 15 powers, including the establishment or increase of reserves to secure or to pay the 16 bonds or interest on them, and the payment of all other costs or expenses of the 17 authority incident to and necessary or convenient to carry out its corporate purposes 18 and powers; 19 (7) to sell, lease as lessor or lessee, exchange, donate, convey, or 20 encumber in any manner by mortgage or by creation of any other security interest, real 21 or personal property owned by it, or in which it has an interest, when, in the judgment 22 of the authority, the action is in furtherance of its corporate purposes; 23 (8) to accept gifts, grants, or loans from, and enter into contracts or 24 other transactions regarding them, with any person; 25 (9) to deposit or invest its funds, subject to agreements with 26 bondholders; 27 (10) to enter into contracts with the United States or any person and, 28 subject to the laws of the United States and subject to concurrence of the legislature, 29 with a foreign country or its agencies, for the construction, financing, acquisition, 30 operation, and maintenance of all or any part of a power project or bulk fuel, waste 31 energy, energy conservation, energy efficiency, or alternative energy facilities or
01 equipment, either inside or outside the state, and for the sale or transmission of power 02 from a project or any right to the capacity of it or for the security of any bonds of the 03 authority issued or to be issued for the project; 04 (11) to enter into contracts with any person and with the United States 05 [,] and, subject to the laws of the United States and subject to the concurrence of the 06 legislature, with a foreign country or its agencies for the purchase, sale, exchange, 07 transmission, or use of power from a project, or any right to the capacity of it; 08 (12) to apply to the appropriate agencies of the state, the United States, 09 and a foreign country and any other proper agency for the permits, licenses, or 10 approvals as may be necessary, to acquire, construct, maintain, and operate power 11 projects in accordance with the licenses or permits, and to obtain, hold, and use the 12 licenses and permits in the same manner as any other person or operating unit; 13 (13) to enter into contracts or agreements with respect to the exercise 14 of any of its powers, and do all things necessary or convenient to carry out its 15 corporate purposes and exercise the powers granted in this chapter; 16 (14) to recommend to the legislature 17 (A) the pledge of the credit of the state to guarantee repayment 18 of all or any portion of revenue bonds issued to assist in construction of power 19 projects; 20 (B) an appropriation from the general fund 21 (i) for debt service on bonds or other project purposes; 22 or 23 (ii) to reduce the amount of debt financing for the 24 project; 25 (15) to carry out the powers and duties assigned to it under AS 42.45; 26 (16) to make grants or loans to any person and enter into contracts or 27 other transactions regarding the grants or loans; 28 (17) to promote energy conservation, energy efficiency, and alternative 29 energy through training and public education; 30 (18) to acquire a Susitna River power project, whether by 31 construction, purchase, gift, or lease, including the acquisition of property rights
01 and interests by eminent domain under AS 09; 02 (19) to perform feasibility studies and engineering and design with 03 respect to power projects. 04 * Sec. 3. AS 44.83 is amended by adding a new section to read: 05 Sec. 44.83.085. Susitna River power project annual report. The authority 06 shall prepare, not later than the first day of each regular session of the legislature, an 07 annual report summarizing the status of the Susitna River power project and shall 08 notify the legislature that the report is available. 09 * Sec. 4. AS 44.83.396(a) is amended to read: 10 (a) A power project that was acquired or constructed under AS 44.83.080(18) 11 or as part of the former energy program for Alaska is owned, and shall be 12 administered, by the authority. 13 * Sec. 5. AS 44.83.990(3) is amended to read: 14 (3) "feasibility study" 15 (A) means a study conducted for the purpose of establishing the 16 economic and environmental practicality of completing a proposed power 17 project [UNDER FORMER AS 44.83.181]; 18 (B) includes engineering and design work to meet the 19 requirements for submission of a license application for a proposed new 20 project to the Federal Energy Regulatory Commission; 21 * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section to 22 read: 23 LEGISLATIVE APPROVAL OF LOANS FROM THE POWER PROJECT FUND. 24 (a) Provided the Alaska Energy Authority approves a loan for the Haida Energy, Inc., 25 Reynolds Creek hydroelectric project, the legislature authorizes the Alaska Energy Authority 26 to loan an amount not to exceed $11,000,000 from the power project fund (AS 42.45.010) for 27 the Haida Energy, Inc., Reynolds Creek hydroelectric project in addition to the loan 28 authorized by sec. 6, ch. 70, SLA 2010. 29 (b) Provided the Alaska Energy Authority approves a loan for the Cordova Electric 30 Cooperative Humpback Creek hydroelectric project, the legislature authorizes the Alaska 31 Energy Authority to loan an amount not to exceed $5,000,000 from the power project fund
01 (AS 42.45.010) for the Cordova Electric Cooperative Humpback Creek hydroelectric project. 02 (c) Subsections (a) and (b) of this section constitute legislative approval under 03 AS 42.45.010(j) for a loan from the fund that exceeds $5,000,000. 04 * Sec. 7. This Act takes effect immediately under AS 01.10.070(c).