1993-02-19                     Senate Journal                      Page 0414
SB 124                                                                       
For interties that meet the criteria of connecting two or more utility         
systems that were not previously linked or that provide a second               
circuit to improve reliability and transfer capability, this legislation       
allows the authority to issue loans up to a 50-year term at no                 
interest.                                                                      
                                                                               
I urge your favorable consideration of this important legislation.             
                                                                               
      Sincerely,                                                               
      /s/                                                                      
      Walter J. Hickel                                                         
      Governor                                                                 
                                                                               
                                                                               
SB 125                                                                       
SENATE BILL NO. 125 by the Senate Rules Committee by request                   
of the Governor, entitled:                                                     
                                                                               
"An Act making appropriations to the energy                                   
authority revolving fund; and providing for an                                 
effective date."                                                               
                                                                               
was read the first time and referred to the Labor and Commerce and             
Finance Committees.                                                            
                                                                               
Governor's transmittal letter dated February 19:                               
                                                                               
Dear Mr. President:                                                            
                                                                               
Under the authority of art. III, sec. 18, of the Alaska Constitution,          
I am transmitting a bill making an appropriation to capitalize the             
energy authority revolving fund.  This appropriation bill is a                 
companion to a bill that I am transmitting relating to the financial           
restructuring of the Alaska Energy Authority (AEA) and the creation            
of the energy authority revolving fund.                                        
                                                                               
This bill appropriates to the energy authority revolving fund the              
balance in the Railbelt intertie reserve and the Railbelt energy fund,         
surplus money from the Bradley Lake Hydroelectric Project, and the             
portfolios, interest, and security agreements of several AEA loan              
programs.  These  appropriations  will  provide a funding source for