SENATOR  COWDERY moved  to calendar  SB  255-LAND EXCHANGES:  GOLD                                                          
CORD DEVELOPMENT.                                                                                                           
                                                                                                                                
SENATOR THERRIAULT asked for an explanation of the measure.                                                                     
                                                                                                                                
CHAIRMAN PHILLIPS noted the bill  needs a technical correction and                                                              
asked Mr. Bus to describe it to the committee.                                                                                  
                                                                                                                                
MR.  NICO  BUS, Administrative  Services  Manager,  Department  of                                                              
Natural Resources  (DNR), explained that in the  agreement between                                                              
the  state  and  the  mining  corporation,   Section  18  requires                                                              
legislative  approval by  the year  2001.   The date  needs to  be                                                              
changed  to  2002. He  explained  that  a  lot of  development  is                                                              
occurring at the  Independence Mine in the Mat-Su  area. DNR needs                                                              
a little bit  of the road for  bus access and spoke to  the mining                                                              
corporation about a land exchange.   The mining corporation agreed                                                              
but the  agreement will require  legislative approval.   The state                                                              
will receive about six acres of land  valued at about $68,000 from                                                              
Gold Cord.                                                                                                                      
                                                                                                                                
SENATOR THERRIAULT asked if DNR will  transfer acreage to the Gold                                                              
Cord in exchange.                                                                                                               
                                                                                                                                
MR. JERRY BURNETT, staff to Senator  Lyda Green, explained that in                                                              
exchange, the  state is  providing the process  to give  Gold Cord                                                              
title to adjacent mining claims, which is valued at about $6,500                                                                
less than the acreage.                                                                                                          
                                                                                                                                
CHAIRMAN PHILLIPS asked about the two Mat-Su Borough's                                                                          
resolutions supporting the land exchange, as they were not in                                                                   
members' packets.                                                                                                               
                                                                                                                                
MR. BURNETT said Senator Green's office never received copies.                                                                  
                                                                                                                                
SENATOR COWDERY moved to calendar SB 255 with the corrected date                                                                
and its accompanying fiscal note.                                                                                               
                                                                                                                                
CHAIRMAN PHILLIPS stated with no objection, the motion to                                                                       
calendar SB 255 carried.  There being no further business to come                                                               
before the committee, he adjourned the meeting at 10:40 a.m.