1997-03-06                     Senate Journal                      Page 0602
SB 84                                                                        
Senator Adams requested that the reconsideration on SENATE BILL                
NO. 84 An Act relating to fiscal management of endowment assets                
of the University of Alaska; amending the definition of university             
receipts to include distribution from university endowments and the            
total return from the University of Alaskas endowment trust fund for           
land obtained under the Act of Congress of January 21, 1929, as                
amended, and transferring responsibility for management and                    
investment of those assets; and making technical amendments to                 
provisions relating to federal grants and appropriations from federal          
land grant college fund sources that must be paid to the state be              
taken up.                                                                      
                                                                               
SENATE BILL NO. 84 was before the Senate on reconsideration.                   
                                                                               
                                                                               

1997-03-06                     Senate Journal                      Page 0603
SB 84                                                                        
Senator Adams moved and asked unanimous consent that the Senate                
return to second reading for the purpose of rescinding its previous            
action in failing to adopt Amendment No. 1 (page 577).  Without                
objection, the bill was returned to second reading..                           
                                                                               
Senator Adams moved that the Senate rescind its previous action in             
failing to adopt Amendment No. 1. Without objection, the Senate                
rescinded its previous action.                                                 
                                                                               
Senator Adams moved for the adoption of Amendment No. 1.                       
Senator Wilken objected.                                                       
                                                                               
The question being: Shall Amendment No. 1 be adopted?  The roll                
was taken with the following result:                                           
                                                                               
SB 84                                                                          
Second Reading                                                                 
Amendment No. 1                                                                
                                                                               
YEAS:  11   NAYS:  9   EXCUSED:  0   ABSENT:  0                              
                                                                               
Yeas:  Adams, Duncan, Ellis, Halford, Hoffman, Lincoln, Mackie,                
Pearce, Phillips, Taylor, Ward                                                 
                                                                               
Nays:  Donley, Green, Kelly, Leman, Miller, Parnell, Sharp,                    
Torgerson, Wilken                                                              
                                                                               
and so, Amendment No. 1 was adopted.                                           
                                                                               
SENATE BILL NO. 84 am was automatically in third reading.                      
                                                                               
The question to be reconsidered is: Shall SENATE BILL NO. 84                   
am An Act relating to fiscal management of endowment assets of                 
the University of Alaska; amending the definition of university                
receipts to include distribution from university endowments and the            
total return from the University of Alaskas endowment trust fund for           
land obtained under the Act of Congress of January 21, 1929, as                
amended, and transferring responsibility for management and                    
investment of those assets; making technical amendments to                     
provisions  relating  to federal grants and appropriations from federal        
                                                                               

1997-03-06                     Senate Journal                      Page 0604
SB 84                                                                        
land grant college fund sources that must be paid to the state; and            
affirming that the Board of Regents and officers of the University of          
Alaska may not expend university receipts without legislative                  
appropriation pass the Senate?  The roll was taken with the                    
following result:                                                              
                                                                               
SB 84 am                                                                       
Third Reading - On Reconsideration                                             
                                                                               
YEAS:  19   NAYS:  1   EXCUSED:  0   ABSENT:  0                              
                                                                               
Yeas:  Adams, Duncan, Ellis, Green, Halford, Hoffman, Kelly,                   
Leman, Lincoln, Mackie, Miller, Parnell, Pearce, Phillips, Sharp,              
Taylor, Torgerson, Ward, Wilken                                                
                                                                               
Nays:  Donley                                                                  
                                                                               
and so, SENATE BILL NO. 84 am passed the Senate on                             
reconsideration and was referred to the Secretary for engrossment.