2010-04-12                     House Journal                      Page 2207
                      THIRD READING OF HOUSE BILLS                                                                           
                               (continued)                                                                                     
                                                                                                                                
HB 424                                                                                                                        
The following, which was moved to the bottom of the calendar (page                                                              
2204), was read the third time:                                                                                                 
                                                                                                                                
     CS FOR HOUSE BILL NO. 424(FIN)                                                                                             
     "An Act providing for and relating to the issuance of general                                                              
     obligation bonds for the purpose of paying the cost of design and                                                          
     construction of library, education, and educational research                                                               
     facilities; and providing for an effective date."                                                                          
                                                                                                                                
Representative Stoltze moved and asked unanimous consent that                                                                   
CSHB 424(FIN) be returned to second reading for the specific purpose                                                            
of considering Amendment No. 1.  There being no objection, it was so                                                            
ordered.                                                                                                                        
                                                                                                                                
Amendment No. 1 was offered  by Representative Stoltze:                                                                          
                                                                                                                                
Page 1, line 5, through page 5, line 25:                                                                                        
     Delete all material and insert:                                                                                            
"* Section 1.  The uncodified law of the State of Alaska is amended                                                           
by adding a new section to read:                                                                                                
     GENERAL OBLIGATION BONDS. For the purpose of paying                                                                        
the cost of design and construction of library, education, and                                                                  
educational research facilities, general obligation bonds of the state in                                                       
the principal amount of not more than $397,200,000, if ratified by a                                                            
majority of the qualified voters of the state who vote on the question,                                                         
shall be issued and sold. The full faith, credit, and resources of the                                                          
state are pledged to the payment of the principal of and interest and                                                           
redemption premium, if any, on the bonds. The bonds shall be issued                                                             
under the provisions of AS 37.15 as those provisions read at the time                                                           
of issuance, except that AS 37.15.040 does not apply. The bonds may                                                             
be issued and sold at a public or negotiated sale in the manner, in the                                                         
amounts or series, and at the time or times that the state bond                                                                 
committee determines after considering market conditions and                                                                    
structuring alternatives.                                                                                                       
   * Sec. 2.  The uncodified law of the State of Alaska is amended by                                                         
adding a new section to read: