Legislature(2001 - 2002)
2001-03-30 House JournalFull Journal pdf
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 date." was read the first time and referred to the Finance Committee. The Governor's transmittal letter dated March 28, 2001, appears below: "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 litigation. 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. Sincerely, /s/ Tony Knowles Governor"