Bill > SB72

This bill authorizes the Alaska Railroad Corporation (ARRC) to issue revenue bonds to finance the replacement of its passenger dock and related terminal facility in Seward, Alaska. The bill increases the maximum principal amount of bonds that can be issued from $60,000,000 to $135,000,000. A key new requirement is that the replacement dock and terminal facility must be able to accommodate Alaska marine highway system vessels with side loading doors. The bonds will be repaid using dock revenue or other funds available to the ARRC, and importantly, neither the corporation's general credit nor the state's credit can be pledged for bond repayment. The bill allows the ARRC to issue these bonds in a single issuance or multiple issuances, with no restrictions on the number or timing, as long as it supports the goal of financing the dock and terminal facility replacement. The act takes effect immediately upon passage.

Budget and Finance

Rules (Senate)

https://www.akleg.gov/basis/Bill/Detail/34?Root=SB72