2012-01-17                     House Journal                      Page 1350
HB 286                                                                                                                        
HOUSE BILL NO. 286 by the House Rules Committee by request of                                                                   
the Governor, entitled:                                                                                                         
                                                                                                                                
    "An Act providing for and relating to the issuance of general                                                               
    obligation bonds for the purpose of paying the cost of municipal                                                            
    port projects; and providing for an effective date."                                                                        
                                                                                                                                
was read the first time and referred to the Finance Committee.                                                                  
                                                                                                                                
                                                                                                                                
The Governor's transmittal letter dated January 13, 2012, follows:                                                              
                                                                                                                                
"Dear Speaker Chenault:                                                                                                         
                                                                                                                                
Under the authority of Article III, Section 18 of the Alaska                                                                    
Constitution, I am transmitting a bill providing for and relating to the                                                        
issuance of $350 million in general obligation bonds for the purpose of                                                         
paying the cost of certain municipal port projects.                                                                             
                                                                                                                                
The bill would provide for the issuance of general obligation bonds to                                                          
finance design and construction costs for these port projects. These                                                            
projects are important to their respective municipalities and would also                                                        
improve transportation infrastructure in the state. The current low cost                                                        
of borrowing provides the opportunity to keep overall spending low,                                                             
while at the same time utilizing bond receipts to expand and improve                                                            
our infrastructure.                                                                                                             
                                                                                                                                
Thank you for your favorable consideration of this bill.                                                                        
                                                                                                                                
Sincerely,                                                                                                                      
/s/                                                                                                                             
Sean Parnell                                                                                                                    
Governor"