00               SENATE CS FOR CS FOR HOUSE BILL NO. 122(FIN)                                                             
01 "An Act authorizing the Alaska Railroad Corporation to issue revenue bonds to finance                                   
02 the replacement of the Alaska Railroad Corporation's passenger dock and related                                         
03 terminal facility in Seward, Alaska; and providing for an effective date."                                              
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. The uncodified law of the State of Alaska enacted in sec. 4(a), ch. 30, SLA                           
06 2022, is amended to read:                                                                                               
07 (a)  The Alaska Railroad Corporation is authorized to issue revenue bonds                                               
08 under AS 42.40.250 to finance the replacement of the Alaska Railroad Corporation's                                      
09 passenger dock and related terminal facility in Seward, Alaska, and associated costs,                                   
10 including, without limitation, reserves for debt service and capitalized interest, if                                   
11 necessary or appropriate, and costs of issuance. The replacement dock and terminal                                  
12 facility must accommodate Alaska marine highway system vessels with side                                            
13 loading doors. The maximum principal amount of bonds that the Alaska Railroad                                       
14 Corporation may issue under this section is $135,000,000 [$60,000,000]. The Alaska                                  

01 Railroad Corporation may issue the bonds in a single issuance or in several issuances,                                  
02 without limitation as to number of issuances or timing, and as the Alaska Railroad                                      
03 Corporation determines best furthers the purpose of financing the replacement of the                                    
04 Alaska Railroad Corporation's passenger dock and related terminal facility in Seward,                                   
05 Alaska, and associated costs. The bonds shall be repaid from dock revenue or other                                      
06 funds available to the Alaska Railroad Corporation. The general credit of the Alaska                                    
07 Railroad Corporation and the state may not be pledged for the repayment of the bonds.                                   
08    * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).