Legislature(2001 - 2002)

2001-03-30 House Journal

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2001-03-30                     House Journal                      Page 0787
HB 221                                                                                            
HOUSE BILL NO. 221 by the House Rules Committee by request of                                       
the Governor, entitled:                                                                             
    "An Act making a capital appropriation to the Department of                                     
    Education and Early Development for public school facilities that                               
    is financed from the proceeds of revenue bonds issued by the                                    
    Northern Tobacco Securitization Corporation; making                                             
    appropriations to the Department of Transportation and Public                                   
    Facilities for public transportation projects and public harbor                                 
    facility projects, issuance costs, and capitalized interest that are                            

2001-03-30                     House Journal                      Page 0788
    financed from the proceeds from the sale of certificates of                                     
    participation in financing leases; and providing for an effective                               
was read the first time and referred to the Finance Committee.                                      
The Governor's transmittal letter dated March 28, 2001, appears                                     
"Dear Speaker Porter:                                                                               
This bill I transmit today is the companion to previous measures I have                             
forwarded to make substantial progress meeting statewide needs for                                  
schools, transportation and harbor facilities.  This bill formally                                  
appropriates the funds for these projects.                                                          
The previously introduced measures establish the financing methods                                  
for all of the projects listed in this bill.  As proposed, these school,                            
transportation and harbor facility projects can all be funded with                                  
existing revenue sources.  The funding source for each type of project                              
is identified in the respective bills.                                                              
House Bill 169 and Senate Bill 124 provide $127 million in statewide                                
school construction and major maintenance through the sale of a                                     
portion of the revenues from the settlement of the state's tobacco                                  
House Bill 168 and Senate Bill 122 authorize the issuance of revenue                                
obligations that use federal funds to finance the accelerated                                       
construction of $425 million in transportation projects throughout the                              
state.  These federal funds can only be used for highway and                                        
transportation projects.                                                                            
House Bill 146 and Senate Bill 118 authorize the issuance of                                        
certificates of participation to finance $43.7 million in deferred                                  
maintenance and construction projects for harbor facilities so they can                             
be transferred to local communities.  A portion of the current marine                               
motor fuel tax revenues would be used to retire the debt.                                           

2001-03-30                     House Journal                      Page 0789
In anticipation of your approval of these vital projects, I urge you to                             
pass this as a separate appropriation measure or to include the project                             
appropriations in the final capital budget for fiscal year 2002.                                    
                               Tony Knowles