Legislature(2001 - 2002)

02/19/2002 02:15 PM House FIN

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
                  HOUSE FINANCE COMMITTEE                                                                                       
                     February 19, 2002                                                                                          
                        2:15 P.M.                                                                                               
                                                                                                                                
 TAPE HFC 02 - 27, Side A                                                                                                       
 TAPE HFC 02 - 27, Side B                                                                                                       
                                                                                                                                
 CALL TO ORDER                                                                                                                
                                                                                                                                
 Co-Chair Mulder called the House Finance Committee meeting                                                                     
 to order at 2:15 P.M.                                                                                                          
                                                                                                                                
 MEMBERS PRESENT                                                                                                              
                                                                                                                                
 Representative Eldon Mulder, Co-Chair                                                                                          
 Representative Bill Williams, Co-Chair                                                                                         
 Representative Con Bunde, Vice-Chair                                                                                           
 Representative Eric Croft                                                                                                      
 Representative John Davies                                                                                                     
 Representative Richard Foster                                                                                                  
 Representative John Harris                                                                                                     
 Representative Bill Hudson                                                                                                     
 Representative Ken Lancaster                                                                                                   
 Representative Carl Moses                                                                                                      
                                                                                                                                
 MEMBERS ABSENT                                                                                                               
                                                                                                                                
 Representative Jim Whitaker                                                                                                    
                                                                                                                                
 ALSO PRESENT                                                                                                                 
                                                                                                                                
 Representative Gary Stevens; Patrick Gamble, President &                                                                       
 CEO, Alaska Railroad Corporation, Anchorage; Bill Leary,                                                                       
 Vice President of  Finance, Alaska Railroad Corporation,                                                                       
 Anchorage.                                                                                                                     
                                                                                                                                
 GENERAL SUBJECT(S):                                                                                                          
                                                                                                                                
          OVERVIEW: ALASKA RAILROAD CORPORATION                                                                                 
                                                                                                                                
The following overview was taken in log note format.  Tapes                                                                     
and handouts will be on file with the House Finance                                                                             
Committee through the 22nd Legislative Session, contact 465-                                                                    
2156. After the 22nd Legislative Session they will be                                                                           
available through the Legislative Library at 465-3808.                                                                          
                                                                                                                              
                                                                                                                                
                                                                                                                                
 LOG SPEAKER              DISCUSSION                                                                                        
                                                                                                                                
                          TAPE HFC 02 - 27                                                                                    
                          SIDE A                                                                                           
 000 Co-Chair Mulder      Opened the House Finance Committee                                                                    
                          meeting at 2:15 P.M.  He noted that                                                                 
                          testimony would be heard from the Alaska                                                              
                          Railroad Corporation.                                                                               
                                                                                                                              
     ALASKA RAILROAD                                                                                                          
     CORPORATION                                                                                                              
110 PATRICK GAMBLE,       Distributed handouts to Committee                                                                     
     PRESIDENT AND CEO,   members.  [Copy on File].  Major Gamble                                                               
     ALASKA RAILROAD      noted that the vision of the Railroad is                                                              
   CORPORATION          to build a great railroad across the                                                                    
                          Greatland.                                                                                          
236 Major Gamble          Provided a history of the Railroad.  The                                                              
                          railroad was started in 1904 and hence                                                                
                          went bankrupt.  The next attempt was in                                                               
                          1910.  In 1915, U.S. Congress decided                                                                 
                          that the U.S. would step in and build the                                                             
                          remaining railroad track.  That took 8                                                                
                          years and $60 million dollars and the                                                                 
                          railroad had no name.  In 1923, it was                                                                
                          decided that the dog-team would always be                                                             
                          the mode of transportation in the State                                                               
                          of Alaska.                                                                                          
428 Major Gamble          Discussed that the railroad was essential                                                             
                          during World War II.  Towns developed                                                                 
                          along the railways and those locations                                                                
                          were identified as the area grew.                                                                     
                          Eventually the growth moved across the                                                                
                          "tracks".                                                                                           
556 Major Gamble          In 1970, something happened with the                                                                  
                          Alaska railroad.  The money went to                                                                   
                          freight.  Passenger service was spun off.                                                             
                          Amtrak took that over.  There is great                                                                
                          interest in the railroad in the lower 48                                                              
                          states.  The Alaska Railroad never moved                                                              
                          far from the original intent.  Passenger                                                              
                          service is fundamental to the Alaska                                                                  
                          Railroad.  The passengers move over the                                                               
                          same rails that the freight goes.  He                                                                 
                          pointed out that there is a lot of money                                                              
                          spent on the ties and the rails.                                                                    
806 Major Gamble          Alaska railroad maintains its uniqueness.                                                             
                          Only recently, there have been articles                                                               
                          in trade journals recommending broader                                                                
                          passenger service for railroads.  That                                                                
                          chapter is now opening up to Alaska.                                                                
910 Major Gamble          Noted that passenger service is                                                                       
                          subsidized through federal dollars.                                                                   
                          Freight service is not subsidized at all,                                                             
                          which is difficult.                                                                                 
937 Major Gamble          Spoke about the demise of the railroad in                                                             
                          the lower 48.  He commented about with                                                                
                          the opportunity occurred to transfer the                                                              
                          Railroad to the State of Alaska system.                                                               
                          It took place for $22 million dollars.                                                                
                          He mentioned the first years operating                                                              
                          budget of $11 million dollars.  That was                                                              
                          the last time that the railroad took                                                                  
                          money from the State.  At that time it                                                                
                          essentially became privatized.  It is                                                                 
                          currently unionized with five unions.                                                                 
                          Privatized made for incentive of net                                                                  
                          profit off the net earnings.   That money                                                             
                          pays for the operating costs and the                                                                  
                          account for paying the employees.  The                                                                
                          incentive is that those dollars generated                                                             
                          go toward safety, better work place for                                                               
                          employees and security for the public.                                                              
 1232 Major Gamble        Continued, the transfer language written                                                              
                          in 1983 was well constructed.  Those that                                                             
                          wrote that language were very careful                                                                 
                          with the language that was used.  The                                                                 
                          structure established was complicated,                                                                
                          which argues against the railroad being a                                                             
                          private association.                                                                                
 1344 Major Gamble        The framers gave the railroad 36,000                                                                  
                          acres half of which is privatized.  Half                                                              
                          of the half is currently leased and                                                                   
                          provides the net earnings of the                                                                      
                          railroad.  In 1985, the railroad was set                                                              
                          up and structured in order to change the                                                              
                          way it was doing business.  For several                                                               
                          years, the railroad was under-funded.                                                                 
                          Additionally, deferred maintenance was                                                                
                          under funded.  It was in 1995, that                                                                   
                          Governor Sheffield noticed that there was                                                             
                          money, which the railroad should have                                                                 
                          been eligible for, in order to rebuild                                                                
                          the catch-up programs.  The railroad is                                                               
                          currently in the catch-up mode to produce                                                             
                          newer ties and ballasts.  A process which                                                             
                          has worked well.                                                                                    
 1639  Major Gamble       Commented that the challenges never stop.                                                             
                          He pointed out that this was the 1st year                                                             
                          in the railroad history that there was                                                                
                          not a derailment in Alaska.                                                                         
 1708 Major Gamble        Itemized the revenues received by the                                                                 
                          railroad.                                                                                           
 1811 Major Gamble        Commented on what the railroad is today.                                                              
                          It is a State entity.  Every citizen has                                                              
                          a share.  The railroad has community                                                                  
                          responsibilities.                                                                                   
 1950 Major Gamble        Understands how essential it is to pay                                                                
                          attention to what the people in the                                                                   
                          communities want.                                                                                   
 2054 Major Gamble        Addressed the reputation of the railroad.                                                             
                          He noted that it would be inconceivable                                                               
                          to build if the community does not want                                                               
                          it.  It is essential to be on the ground                                                            
                          floor of the planning process, building                                                               
                          consensus.  The railroad has a stake in                                                               
                          the outcome.  There are many projects                                                                 
                          listed in the handout, which require                                                                  
                          dialogue along with the communities.                                                                
2243Major Gamble          Partnering is important as a State                                                                    
`                         entity.  He added that leasing is also an                                                             
                          important concern.  Some leases go to                                                                 
                          international customers.  There is also a                                                             
                          larger permitting area. It is the                                                                     
                          railroads responsibility to know who and                                                              
                          what is being dealt with and then                                                                     
                          accessing the long-term ramifications.                                                                
                          He added that it is essential to follow                                                               
                          the State guidelines and ethic rules.                                                               
2423 Major Gamble         Noted that the Governor appointed the                                                                 
                          Board of Directors as the buffer between                                                              
                          the President of the Railroad and the                                                                 
                          State.                                                                                              
2451 Major Gamble         Commented on the relationship between                                                                 
                          both State and private entities.  He                                                                  
                          noted that the labor force, which the                                                                 
                          railroad provides, is a quality of life.                                                            
2537 Major Gamble         Advantages of being quasi-private, which                                                              
                          help to build incentive by innovators.                                                                
                          Innovation is not stifled.  The Railroad                                                              
                          is financially innovative and with the                                                                
                          use of technology.  Because the railroad                                                              
                          builds their own business, they can be                                                                
                        more creative.                                                                                        
2703 Major Gamble         Addressed the maritime business that the                                                              
                          railroad is in.                                                                                     
2725 Major Gamble         Stated that the railroad is an agent for                                                              
                          development.  Where the curves cross is                                                               
                          the optimum point.  The federal dollars                                                               
                          provide an attempt to clarify the                                                                     
                          efficiency of the railroad.  He noted                                                                 
                          other developments and the rail link to                                                               
                          Canada; the commuter rail; the pipeline                                                               
                          support; support of the DOD and those                                                                 
                          projects; the use of the railroad for the                                                             
                          conduit for the bond raising issue; and                                                               
                          opening and developing the initial early                                                              
                          access.                                                                                             
2956 Major Gamble         The railroad, as an agent for                                                                         
                          development, under the current model,                                                                 
                          needs to be ready.                                                                                  
3050 Major Gamble         In the development bottom line, the                                                                   
                          passenger has to be safe and secure.  To                                                              
                          respond to challenges, the railroad needs                                                             
                          to be responsive.                                                                                   
3134 Major Gamble         The construction season is a large                                                                    
                          concern and dynamic in movement.  It has                                                            
                          been rigorous and well developed.  The                                                                
                          railroad is an important component of the                                                             
                          transportation dynamic for the State of                                                               
                          Alaska.  There is interdependence in the                                                              
                          movement mode within the State of Alaska.                                                             
                          There is an inter-model dependence.  It                                                               
                          interplays with planes, trucks and                                                                    
                          trains.  To hamstring any of those                                                                    
                          components would harm the other two.  He                                                              
                          urged that the system be optimized.                                                                   
                          People and freight are transferred when                                                               
                          it comes to Alaska, which is the essence                                                              
                          of the inter-model system.                                                                          
 3352 Major Gamble        Mentioned capital funding and the                                                                     
                          competing one another with the inter-                                                                 
                          model funding needs.                                                                                
 3455 Major Gamble        Spoke to the railroad as being a                                                                      
                          component part of development for Alaska                                                              
                          transportation.  Transportation needs to                                                              
                          take a regional approach.  The inter-                                                                 
                          model concentrates on "links".                                                                      
 3540 Major Gamble        Spoke to the success of the Alaska                                                                    
                          Railroad and how it addresses the core                                                                
                          competency.                                                                                         
 3606 Major Gamble        Alaska Railroad is Alaska owned and                                                                   
                          operated railroad and it is a pride,                                                                  
                          which is providing for progress. He                                                                   
                          stressed that is what makes Alaska tick                                                               
                          and it is essential to transportation                                                                 
                          within the State.  It should stay in the                                                              
                          State and that it cannot be done long                                                                 
                          distance.                                                                                           
 3730 Co-Chair Mulder     Questioned the Railroad being an agent                                                                
                          for development                                                                                     
 3755 Major Gamble        Commented that the railroad must be a                                                                 
                          partner in the State and responsive to                                                                
                          customers.  The challenge is to have the                                                              
                          capacity to answer the call when that                                                                 
                          call comes.  He thought that the railroad                                                             
                          could be built to hold that capacity.                                                                 
                          The railroad is a fundamental niche in                                                                
                          development for the State.                                                                          
 3940 Co-Chair Mulder     Asked about the mission statement.                                                                  
 3959 Major Gamble        Referenced Page 1 of the handout.  The                                                                
                          mission of the railroad is to be                                                                      
                          profitable by focusing on safe, high                                                                  
                          quality service to freight, passenger and                                                             
                          real estate customers. To foster the                                                                  
                          development of Alaska's economy by                                                                    
                          integrating railroad and railbelt                                                                     
                          community development plans.                                                                        
 4137 Representative      Asked about the number of moose killed                                                                
      Foster              this year by the railroad.                                                                          
4155 Major Gamble         Replied that this has been a low moose                                                                
                          kill year for the railroad this year                                                                  
                          given the amount of snowfall.                                                                       
4220 Vice-Chair Bunde     Spoke to the deficit of the State.  He                                                                
                          asked if there would be anytime in the                                                                
                          future in which the railroad would be                                                                 
                          able to provide the State with a                                                                      
                          dividend.                                                                                           
4329 Major Gamble         Explained that if legislation were                                                                    
                          passed, then the railroad would attempt                                                               
                          to accomplish it.  He did not see                                                                     
                          anything feasible like that in the next                                                               
                          few years.  The railroad would need more                                                              
                          net earnings than they currently have.                                                                
                          They are currently unable to meet the                                                                 
                          deferred maintenance needs.  Washington                                                               
                          D.C. has provided $20 million dollars                                                                 
                          annually.  The railroad it playing catch-                                                             
                          up.  It could be possible in the future.                                                              
                          He noted that he was concerned with the                                                               
                          potential loss of U.S. Congress money.                                                              
4525 Major Gamble         Discussed the congressional money, some                                                               
                          of which comes fairly unencumbered.  The                                                              
                          second type of money received by the                                                                  
                          railroad is federal administration                                                                    
                          dollars because the Alaska railroad is a                                                              
                          passenger railroad.  That is a complex                                                                
                          formula depending on the number of                                                                    
                          passengers hauled and urbanized zones.                                                              
                                                                                                                                
                          TAPE HFC 02 - 27, Side B                                                                          
4706 Co-Chair Mulder      Pointed out that those dollars are                                                                    
                          projected to drop.                                                                                  
4659 Major Gamble         Spoke to the "sustain mode".  He noted                                                                
                          that the railroad is in a transition mode                                                             
                         at this time.                                                                                        
4615 Representative       Thought it was unlikely that the State                                                                
     Davies               would be able to make allocations to the                                                              
                          railroad.  He mentioned the coal lands.                                                             
4451 Major Gamble         Stated that it would cost $3 million                                                                  
                          dollars per mile to build railroad and                                                                
                          $33 thousand to maintain it each year,                                                                
                          which would provide for maintenance,                                                                  
                          small yards and signals.  The capital                                                                 
                          investment up front is significant.  He                                                               
                          did not foresee any roadblocks for any                                                                
                          investment.  The $33 thousand dollars                                                                 
                          starts to accrue when the 1st spike is                                                                
                          driven.  There will be a point when there                                                             
                          is an expense and then earnings.  Things                                                              
                          will develop which cannot be predicted.                                                             
4147 Representative       Spoke to the extension of the Alaska                                                                  
     Harris               railroad and the advent of the ballistic                                                              
                          defense system at which time heavy                                                                  
                          machinery that will need to be moved.  He                                                             
                          asked where the railroad was going on new                                                             
                          development toward Fort Greeley since the                                                             
                          military projects are going to be                                                                     
                          happening.                                                                                          
 4019 Major Gamble        There is little information on those                                                                  
                          plans at this time.  The original plans                                                               
                          did not rely on the rail.  He did not                                                                 
                          know the plans for Fort Greeley.  He                                                                  
                          wanted to find out more about the Fort                                                                
                          Greeley intentions.                                                                                 
 3832 Representative      Asked who were the land leases with.                                                                
      Lancaster                                                                                                                 
 3831 Major Gamble        Replied most were international and some                                                              
                          were small businesses and then below that                                                             
                          are the permits.                                                                                    
 3741 Representative      Asked about the draft legislation before                                                              
      Hudson              the Legislative bodies.  He mentioned the                                                             
                          local hire.                                                                                         
 3654 Major Gamble        Noted that there is third history working                                                             
                          on the railroad.  Additionally, there are                                                             
                          many kids out of high school working on                                                               
                          the railroad.  He noted the number of                                                                 
                          tour guides on the railroads that come                                                                
                          out of the high schools. However, there                                                               
                          is not enough coming to work for the                                                                  
                          railroad.  Now there is a recruiter going                                                             
                          into the schools to educate those                                                                     
                          students for the potential of the                                                                     
                          railroad livelihood.  They make better                                                                
                          employees and like living in Alaska.                                                                
 3414 Representative      Referenced the Alaska Marine Highway                                                                  
      Hudson              System.  When there is a vacancy, because                                                             
                          of the Union, the vacancy is sometimes                                                                
                          filled from out of State.                                                                           
 3341 Major Gamble        Was not familiar with a case like that in                                                             
                          the railroad hire.                                                                                  
 3325 Co-Chair Mulder     Asked if there was a program with the                                                                 
                          Alaska Vocational Center training people                                                              
                          for railroad hire.                                                                                  
 3307 Major Gamble        Acknowledged that it was the preference                                                               
                          that the employee has some pre-training.                                                              
                          He noted that some are hired with no                                                                  
                          training.  The employees are owed a piece                                                             
                          of training on the job and that is work                                                               
                          that has not been done very well.  He                                                                 
                          noted that they are in the process of                                                                 
                          rebuilding their training program.  He                                                                
                          referenced computer based trainings and                                                               
                          the community college component.                                                                    
 3130 Co-Chair Mulder     Thought that the two would be able to                                                                 
                          satisfy the needed space in the railroad.                                                           
3108 Representative       Mentioned the University courses and the                                                              
     Davies               community college courses and how they                                                                
                          could meet the needs for the trainings                                                                
                          for the railroad.  He added the                                                                       
                          efficiency of the high school training                                                                
                          program.                                                                                            
2936 Co-Chair Mulder      Referenced Page 12 of the handout - The                                                               
                          planned capital expenditures.                                                                       
2907 Major Gamble         Stated that the railroad did not                                                                      
                          anticipate making $37.1 for the FY03                                                                  
                          budget.  The budgeting horizon does not                                                               
                          really move that far.  The projects in                                                                
                          the out years are ambitious.  There will                                                              
                          be tough decisions that need to be                                                                    
                          decided.  FY02 & FY03 will be "water-                                                                 
                          shed" years for the Alaska Railroad.  The                                                             
                          number is higher than can be met.                                                                   
2735 BILL LEARY, VICE     Stated that the internal generated funds                                                              
     PRESIDENT OF         would be similar as FY02.                                                                           
     FINANCE, ALASKA                                                                                                            
     RAILROAD                                                                                                                   
     CORPORATION,                                                                                                               
     ANCHORAGE                                                                                                                  
2706 Co-Chair Mulder      Commented that the dividend would                                                                     
                          postpone the projects.                                                                              
2652 Co-Chair Mulder      Asked how the legislation could help get                                                              
                          there.                                                                                              
2638 Mr. Leary            Replied external revenue.  The fiscal                                                                 
                          fate of the railroad is tied to the                                                                   
                          State's economy.  It is up to the                                                                     
                          railroad to keep expenses at a manageable                                                             
                          level.                                                                                              
2558 Co-Chair Mulder      Commented on the gap between the $12                                                                  
                          million dollars versus the $37 million                                                                
                          dollar gap.  He noted his concern.  He                                                                
                          asked if that was the way business was                                                                
                         usually done.                                                                                        
2527 Major Gamble         Did not believe that the State could do                                                               
                          anything to help the railroad.  The                                                                   
                          railroad is a "slave" to what is                                                                      
                          happening with the State's economy.                                                                   
                          There is a measurable dam of hope.  The                                                               
                          net earnings can only be so much.  The                                                                
                          net earnings grow, however, the expenses                                                              
                          are growing faster than the revenues.                                                                 
                          That is the trouble with the net earnings                                                             
                          versus the expenses.  The operating                                                                   
                          ratios are not good for the railroad.                                                                 
                          The ability to go out and lease the land                                                              
                         is essential.                                                                                        
2302 Co-Chair Mulder      Asked if the deferred maintenance and                                                                 
                          depreciation was a sinking fund.                                                                    
 2243 Mr. Leary           Replied that there is not a "sinking                                                                  
                          fund".  The historic way has been to "pay                                                             
                          as you go".                                                                                         
                                                                                                                                
                                                                                                                                
 2213 Major Gamble        The railroad has protected and preserved                                                              
                          its on going cash flow.                                                                             
 2151 Co-Chair Mulder     Thought that the true value of having                                                                 
                          depreciation is having a "sinking fund"                                                               
                          in order to continue to do business.                                                                
 2124 Representative      Pointed out that they have a mission and                                                              
      Lancaster           five-year forecast which is more than the                                                             
                          legislature has.                                                                                    
 2103 Co-Chair Mulder     Noted the Governor's proposal to help                                                                 
                          spur the gas pipeline.                                                                              
 2000 Major Gamble        Replied that was not his field of                                                                     
                          expertise.  He noted that it is "big"                                                                 
                          financial business.  He added that the                                                                
                          research done by the Governor, the idea                                                               
                          of using the railroad as a conduit, is a                                                              
                          classic idea, however, the railroad will                                                              
                          be "bumped" up to create revenue.  It                                                                 
                          could require a bigger hire.  When the                                                                
                          dust settles, the railroad will need to                                                               
                          put together a bond deal.  The railroad                                                               
                          will be very busy to do justice to the                                                                
                          deal.  The deal is being taken very                                                                   
                          seriously.                                                                                          
 1814 Major Gamble        Thought that the concept indicates the                                                                
                          potential value of the railroad.  The                                                                 
                          transfer language has been done well.                                                                 
                          The concept is good by keeping the track                                                              
                          capacity for whatever comes.  Hopefully                                                               
                          it will be profitable for the railroad.                                                               
                          It has a potential to create very much                                                                
                          for the good of the country.  He noted                                                                
                          that the Alaska Railroad supports the                                                                 
                          project.  A lot of homework will need to                                                              
                          be done if the project happens.                                                                     
 1600 Major Gamble        Continued that he too is waiting to see                                                               
                          if the Board would approve the bonds and                                                              
                          the project.  He voiced caution on any                                                                
                          proposed projects and the cooperative                                                                 
                          working of the Legislature and the                                                                    
                          Governor.  He acknowledged that this is                                                               
                          not a simple project.                                                                               
 1505 Co-Chair Mulder     Asked if the Board of Directors has taken                                                             
                          a position.                                                                                         
 1450 Major Gamble        Stated that the board has not taken a                                                                 
                          position.  He noted that they hoped for                                                               
                          success.                                                                                            
 1432 Representative      Spoke to connecting the Canadian rail                                                                 
      Hudson              system.                                                                                             
1351 Major Gamble         Stated that the Alaska Railroad does not                                                              
                          have any contact with the Canadians.  He                                                              
                          noted that they feed off the "contacts".                                                              
                          There have been office visits and                                                                     
                          debriefs regarding these concerns between                                                             
                          the two countries.  From a railroad                                                                   
                          perspective, the concern is pushing                                                                   
                          forward for development.  Alaska only has                                                             
                          so many opportunities.  The resources                                                                 
                          will be at the forefront of those                                                                     
                          decisions.  He commented that the idea is                                                             
                          not going to go away.  It could be a                                                                  
                          project for the railroad.  It could come                                                              
                          at the same time as other projects for                                                                
                         the railroad.                                                                                        
952 Representative        Applauded the railroad for the                                                                        
     Hudson               considerations being addressed.                                                                     
926 Major Gamble          Commented that the physical movement of                                                               
                          materials is a delicate task.  The                                                                    
                          capacity of taking on additional jobs has                                                             
                          not been adequately considered.  Other                                                                
                          considerations to be determined are the                                                               
                          bridges and the amount of tonnage that                                                                
                          they can handle.  Projects as proposed                                                                
                          could accelerate the catch-up.                                                                      
807 Co-Chair Mulder       Agreed that it could cost money at the                                                                
                          front end to get the money at the rear                                                                
                          end.  He addressed the financial                                                                      
                          commitment of the railroad.                                                                         
733 Major Gamble          Referenced the type of land, the fair                                                                 
                          market value and the leased value.  The                                                               
                          idea given to the alternative sections of                                                             
                          land is a major consideration.  He noted                                                              
                          that the railroad charge fair market                                                                  
                          value for a lease.                                                                                  
540 Co-Chair Mulder       ADJOURNMENT: The meeting was adjourned at                                                           
                          3:47 P.M.                                                                                           
                                                                                                                              
                                                                                                                                

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