02/12/2001 09:07 AM Senate FIN

     SENATE BILL NO. 2                                                                                                          
     "An Act relating to reimbursement of municipal bonds for                                                                   
     school construction; and providing for an effective date."                                                                 
                                                                                                                                
                                                                                                                                
MARY JACKSON,  staff to Senator John  Torgerson, indicated  that the                                                            
bill is pretty  straightforward.   She explained that SB  2 is a fix                                                            
to the language  in last years' HB 281.  There was  language in that                                                            
bill  that has  presented  and posed  a  problem for  the  Anchorage                                                            
School District,  in particular, in terms of sales  of the bonds for                                                            
school  construction.   She  said  that there  are articles  in  the                                                            
packet from the Anchorage  Daily News that describes the dilemma and                                                            
support from the Anchorage  School District and the Northwest Arctic                                                            
Bureau School District for the language revision.                                                                               
                                                                                                                                
Co-Chair Kelly announced that SB 2 would be HELD in Committee.