SB 105: "An Act authorizing the Alaska Railroad Corporation to issue revenue bonds to finance the replacement of the Alaska Railroad Corporation's passenger dock and related terminal facility in Seward, Alaska; and providing for an effective date."
00 SENATE BILL NO. 105 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 maximum principal amount of 12 bonds that the Alaska Railroad Corporation may issue under this section is 13 $150,000,000 [$60,000,000]. The Alaska Railroad Corporation may issue the bonds in 14 a single issuance or in several issuances, without limitation as to number of issuances
01 or timing, and as the Alaska Railroad Corporation determines best furthers the purpose 02 of financing the replacement of the Alaska Railroad Corporation's passenger dock and 03 related terminal facility in Seward, Alaska, and associated costs. The bonds shall be 04 repaid from dock revenue or other funds available to the Alaska Railroad Corporation. 05 The general credit of the Alaska Railroad Corporation and the state may not be 06 pledged for the repayment of the bonds. 07 * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).