02/12/2004 03:35 PM Senate STA

                SB 279-AHFC WATER & SEWER BONDS                                                                             
                                                                                                                              
CHAIR GARY STEVENS  announced SB 279 to be  up for consideration.                                                               
He asked for a motion to adopt the committee substitute (CS).                                                                   
                                                                                                                                
SENATOR JOHN COWDERY  made a motion to adopt CSSB  279 \D version                                                               
as the  working document. There  was no  objection and it  was so                                                               
ordered.                                                                                                                        
                                                                                                                                
CHAIR GARY  STEVENS explained  that the  only change  between the                                                               
original  bill  and  the  committee  substitute  relates  to  the                                                               
specific provisions  of the bond  authorization. On page  5, line                                                               
7, the Alaska Housing Finance  Corporation is authorized to issue                                                               
bonds  to  finance  "$19,818,300   in  capital  improvements  for                                                               
village  safe  and  clean  water  and  hygienic  sewage  disposal                                                               
facilities either  directly or  as a  matching money  required by                                                               
grants  for  those  purposes, and  $5,181,700  to  finance  other                                                               
capital projects."                                                                                                              
                                                                                                                                
SENATOR COWDERY  requested verification  that the only  change is                                                               
to identify the projects that the money would be used for.                                                                      
                                                                                                                                
CHAIR GARY STEVENS replied, "That  is exactly true." The projects                                                               
were previously  identified in the  attached fiscal note  so this                                                               
change provides clarification.  He asked Mr. Butcher  to speak to                                                               
that.                                                                                                                           
                                                                                                                                
BRYON  BUTCHER,  legislative   liaison,  AHFC,  participated  via                                                               
teleconference to say  he agreed with what had been  said. The CS                                                               
specifies,  in  the  bill,  the amount  of  money  allocated  for                                                               
village safe  water projects in  the FY05 capital budget  as well                                                               
as the funds for non-specific other capital projects.                                                                           
                                                                                                                                
CHAIR  GARY STEVENS  inquired  whether he  had  any objection  to                                                               
specifying the amounts in the bill.                                                                                             
                                                                                                                                
MR. BUTCHER replied, "We are fine with the bill."                                                                               
                                                                                                                                
JOE DUBLER,  finance director with  AHFC, identified  himself via                                                               
teleconference and said he had no comments to add.                                                                              
                                                                                                                                
SENATOR  GRETCHEN GUESS,  commenting via  teleconference, thanked                                                               
Mr. Butcher for  agreeing to the changes in the  bill. She had no                                                               
further comments.                                                                                                               
                                                                                                                                
CHAIR GARY STEVENS asked for a motion.                                                                                          
                                                                                                                                
SENATOR  COWDERY  made  a  motion  to  move  CSSB  279(STA)  from                                                               
committee with the attached fiscal note.                                                                                        
                                                                                                                                
CHAIR GARY  STEVENS clarified  that the  fiscal note  was revised                                                               
and  it shows  $3  million for  the bond  issue.  There being  no                                                               
objection, the bill moved from committee.