1994-05-04                     House Journal                      Page 3994
SB 247                                                                       
The following was read the second time:                                        
                                                                               
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                       
                                                                               

1994-05-04                     House Journal                      Page 3995
SB 247                                                                       
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:                                                 Journal Page         
                                                                               
	FIN RPT HCS(FIN) NEW TITLE 6DP 3NR 2AM                           3664         
	...TITLE CHANGE PENDING AUTHORIZATION                            3664         
	...BY HCR 36                                                     3664         
	-PREVIOUS SENATE ZERO FN (LAA) 1/24/94                           3666         
	-PREVIOUS SENATE ZERO FN (ADM) 2/2/94                            3666         
                                                                               
                                                                               
Representative Phillips moved and asked unanimous consent that                 
CSSB 247(2D FIN) be held in second reading until the May 5, 1994,              
calendar.                                                                      
                                                                               
There being no objection, it was so ordered.