1995-04-22                     Senate Journal                      Page 1190
                  INTRODUCTION AND REFERENCE OF SENATE BILLS                 
                                                                               
SB 164                                                                       
SENATE BILL NO. 164 BY THE SENATE RULES COMMITTEE                              
BY REQUEST OF THE GOVERNOR, entitled:                                          
                                                                               
"An Act approving the sale of Prudhoe Bay Unit                                
royalty oil by the State of Alaska to Tesoro Alaska                            
Petroleum Company; and providing for an effective                              
date."                                                                         
                                                                               
was read the first time and referred to the Resources and Finance              
Committees.                                                                    
                                                                               
Zero fiscal notes published today from Department of Revenue,                  
Department of Natural Resources.                                               
                                                                               
Governor's transmittal letter dated April 22:                                  
                                                                               
Dear President Pearce:                                                         
                                                                               
Under the authority of art. III, sec. 18, of the Alaska Constitution,          
I am transmitting a bill that provides for legislative approval of a           
royalty oil contract between the state and Tesoro Alaska Petroleum             
Company for the sale of Prudhoe Bay Unit royalty oil.  Also                    
transmitted with this bill are copies of the resolution of the Alaska          
Royalty Oil and Gas Development Advisory Board recommending                    
approval of that contract in accordance with AS38.06.040(a)(3) and             
38.06.050(a), and the report required by AS38.06.070(c).                       
                                                                               
The contract is described in a final finding issued by the                     
commissioner of the Department of Natural Resources on April21,                
1995.  A copy of the commissioner's final finding and the signed               
contract are attached.  Copies of the commissioners preliminary                
finding and the draft contract previously were sent to the legislature         
and made available to the public for review.