Legislature(1999 - 2000)
2000-04-25 House Journal
Full Journal pdf2000-04-25 House Journal Page 3497 HB 281 Representative Green moved and asked unanimous consent that the House rescind previous action in adopting the following (page 3413), which was returned to the House (page 3480): 2000-04-25 House Journal Page 3498 HB 281 CS FOR HOUSE BILL NO. 281(FIN) "An Act relating to the financing of construction of public school facilities, facilities for the University of Alaska, and facilities for ports and harbors; authorizing the commissioner of revenue to sell the right to receive a portion of the anticipated revenue from a certain tobacco litigation settlement to the Alaska Housing Finance Corporation; relating to the deposit of certain anticipated revenue from a certain tobacco litigation settlement; authorizing the issuance of bonds by the Alaska Housing Finance Corporation with proceeds to finance public school construction, facilities for the University of Alaska, and facilities for ports and harbors; providing for the creation of subsidiary corporations of the Alaska Housing Finance Corporation for the purpose of financing or facilitating the financing of public school construction, facilities for the University of Alaska, and facilities for ports and harbors; and providing for an effective date." There being no objection, it was so ordered. Representative Green moved and asked unanimous consent that CSHB 281(FIN) be returned to second reading for the specific purpose of considering Amendment No. 3. Representative Ogan objected and withdrew the objection. There being no further objection, CSHB 281(FIN) was returned to second reading. Amendment No. 3 was offered by Representative Mulder: Page 2, line 4, following "INTENT.": Insert "(a) In connection with the authorization contained in sec. 4(b) of this Act, the legislature restates and reaffirms its intent as expressed in sec. 1, ch. 129, SLA 1998, that the sum of withdrawals for repayment of bonds under sec. 4(b) of this Act and for all other purposes described in sec. 1, ch. 129, SLA1998, should not exceed the Alaska Housing Finance Corporation's net income for the preceding 2000-04-25 House Journal Page 3499 HB 281 fiscal year, which the Alaska Housing Finance Corporation projects to be $103,000,000 for each of the fiscal years beginning with 2000 through 2008, for a total during that nine-year period of $927,000,000. (b)" Page 3, following line 15: Insert new subsections to read: "(b) In addition to the authorization provided by (a) of this section, and notwithstanding the limitation contained in AS18.56.090 or other provisions of law, the Alaska Housing Finance Corporation is authorized to issue an amount of bonds sufficient to finance construction of public school facilities, facilities for the University of Alaska, public housing facilities of the Alaska Housing Finance Corporation, and facilities for ports and harbors described under 4(e) of this section. The bonds issued under this subsection are secured solely by the revenue of the Alaska Housing Finance Corporation. (c) Bonds issued under this section may be further secured by a capital reserve fund described in AS18.56.125. AS18.56.110 - 18.56.190 apply to bonds issued under this section." Reletter the following subsections accordingly. Page 3, line 16: Delete "(c)" Insert "(e)" Page 3, line 20: Delete "(c)(1)" Insert "(e)(1)" Page 3, line 22: Delete "(c)(2)" Insert "(e)(2)" Page 3, line 25: Delete "(c)(3)" Insert "(e)(3)" 2000-04-25 House Journal Page 3500 HB 281 Page 3, line 27: Delete "(d)" Insert "(f)" Page 5, following line 10: Insert "Noorvik K-12 Improvements 17,528,378" Page 5, following line 15: Insert "Lake and Peninsula - Pedro Bay School 1,557,714 Renovation/Relocation/Reconstruction" Page 5, line 16: Delete "$165,803,767" Insert "$184,889,859" Page 5, following line 22: Insert "Classroom Building 7,600,000" Page 6, line 2: Delete "$71,991,908" Insert "$79,591,908" Page 6, following line 7: Insert "Sitka 4,038,900" Page 6, line 27: Delete "$32,000,312" Insert "$36,039,212" Page 6, line 28: Delete "$269,795,987" Insert "$300,520,979" Page 6, line 29: Delete "sec. 4(c)(3)" Insert "(e)(3)" 2000-04-25 House Journal Page 3501 HB 281 Representative Mulder moved and asked unanimous consent that Amendment No. 3 be adopted. Objection was heard and withdrawn. There being no further objection, Amendment No. 3 was adopted. **The presence of Representative Kerttula was noted. Representative Green moved and asked unanimous consent that CSHB 281(FIN) am be held in third reading to the April 26, 2000, calendar. There being no objection, it was so ordered.