Legislature(1993 - 1994)
1994-05-06 Senate Journal
Full Journal pdf1994-05-06 Senate Journal Page 4411 SB 247 Message of May 5 was read, stating the House passed and returned for consideration CS FOR SENATE BILL NO. 247(2d FIN) "An Act making subject to prior legislative approval contracts entered into or renewed by the executive branch of state government, the legislative council, the Alaska Court System, and the University of Alaska for the lease of real property if the lease has an annual rent payable that is anticipated to exceed $500,000 or has total payments that exceed $2,500,000 for the term of the lease, including any renewal options that are defined in the lease; prohibiting these entities from entering into or renewing a lease of real property if any or all renewal periods in the lease exceed the original term of the lease; making subject to prior legislative approval lease-purchase agreements that may be entered into by these entities to acquire real property, other than lease-purchase agreements to refinance outstanding balances on existing lease-purchase agreements and lease-purchase agreements secured by University of Alaska student fees and university receipts; authorizing these entities to enter into lease-purchase agreements only in the capacity of lessee under the proposed lease-purchase agreement; defining procedures that these entities must follow when considering whether or not to enter into lease-purchase agreements, and setting limits on the duration of these agreements; providing definitions for applicable terms; and providing for an effective date" with the following amendments: HOUSE CS FOR CS FOR SENATE BILL NO. 247(FIN) am H "An Act making subject to prior legislative approval contracts entered into or renewed by the executive branch of state government, the legislative council, the Alaska Court System, and, with certain exceptions, the University of Alaska for the lease of real property if the lease has an annual rent payable that is anticipated to exceed $500,000 or has total payments that exceed $2,500,000 for the term of the lease, including any renewal options that are defined in the lease; prohibiting these entities from entering into or renewing a lease of real property if any or all renewal periods in the lease exceed the original term of the lease; making subject to prior legislative approval lease-purchase agreements that may be entered into by these entities to acquire real property, other than lease-purchase agreements to refinance outstanding balances on existing lease-purchase agreements and lease-purchase agreements 1994-05-06 Senate Journal Page 4412 SB 247 secured by University of Alaska student fees and university receipts; authorizing these entities to enter into lease-purchase agreements only in the capacity of lessee under the proposed lease-purchase agreement; defining procedures that these entities must follow when considering whether or not to enter into lease-purchase agreements, setting limits on the duration of these agreements; and providing definitions for applicable terms; and providing for an effective date." (Title change authorized by HCR 36 am) President Halford stated the House message would be taken up after HOUSE CONCURRENT RESOLUTION NO. 36 am (page 4410).