2014-04-20                     House Journal                      Page 2715
                                                                                                                                
 FIN RPT HCS(FIN) 10DP 1NR                                                                      2654                            
 FN1: (CED)                                                                                     2655                            
                                                                                                                                
Representative Pruitt moved and asked unanimous consent that the                                                                
following committee substitute be adopted in lieu of the original bill:                                                         
                                                                                                                                
      HOUSE CS FOR CS FOR SENATE BILL NO. 140(FIN)                                                                              
      (same title)                                                                                                              
                                                                                                                                
There being no objection, it was so ordered.                                                                                    
                                                                                                                                
                                                                                                                                
Amendment No. 1 was offered  by Representatives Herron, Foster,                                                                  
Nageak, Edgmon, and Guttenberg:                                                                                                 
                                                                                                                                
Page 1, line 2, following "Authority;" (title amendment):                                                                     
 Delete "and"                                                                                                                 
                                                                                                                                
Page 1, line 3, following "Authority" (title amendment):                                                                      
 Insert "; and authorizing the Alaska Industrial Development                                                                  
and Export Authority to issue bonds to finance the infrastructure                                                             
and construction costs of the Arctic Fibre and Quintillion                                                                    
Networks fiber optics project"                                                                                                
                                                                                                                                
Page 4, following line 4:                                                                                                       
 Insert a new bill section to read:                                                                                             
   "*Sec. 7.  LEGISLATIVE APPROVAL; ARCTIC FIBRE AND                                                                          
QUINTILLION NETWORKS FIBER OPTICS PROJECT. (a) The                                                                              
Alaska Industrial Development and Export Authority may issue bonds                                                              
to finance the infrastructure and construction costs of the Arctic Fibre                                                        
and Quintillion Networks fiber optics project. The cable and                                                                    
associated equipment of the Arctic Fibre and Quintillion Networks                                                               
fiber optics project shall be owned and operated by the authority or                                                            
financed under AS 44.88.172. The principal amount of the bonds                                                                  
provided by the Alaska Industrial Development and Export Authority                                                              
for the Arctic Fibre and Quintillion Networks fiber optics project may                                                          
not exceed the lesser of $50,000,000 or 10 percent of the total project                                                         
finance package as determined through the Alaska Industrial                                                                     
Development and Export Authority's due diligence process, and may                                                               
include the costs of issuing bonds the Alaska Industrial Development                                                            
and Export Authority considers reasonable and appropriate.