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Enrolled SB 51: Relating to revenue bonds issued by the Alaska Municipal Bond Bank Authority and the total amount of bonds and notes outstanding of that authority; and providing for an effective date.

00 Enrolled SB 51                                                                                                          
01 Relating to revenue bonds issued by the Alaska Municipal Bond Bank Authority and the total                              
02 amount of bonds and notes outstanding of that authority; and providing for an effective date.                           
03                           _______________                                                                               
04    * Section 1.  AS 44.85.100(b) is amended to read:                                                                  
05            (b)  The bond bank authority shall include in the report required by (a) of this                             
06       section an estimate of the amount of revenue bonds of the bond bank authority to be                               
07       issued during the fiscal year following the fiscal year in which the report is submitted.                         
08       The bond bank authority may not issue revenue bonds, other than refunding bonds, in                               
09       excess of $75,000,000 [$50,000,000] during any fiscal year beginning after June 30,                           
10       1981, unless the legislature, by law, approves the estimate required by this subsection                           
11       for that fiscal year.                                                                                             
12    * Sec. 2.  AS 44.85.180(c) is amended to read:                                                                     
13            (c)  Notwithstanding the provisions of (a) and (b) of this section, the total                                
14       amount of bond bank authority bonds and notes outstanding at any one time, except                                 
15       bonds or notes issued to fund or refund bonds or notes, may not exceed $500,000,000                           
01       [$300,000,000].                                                                                                   
02    * Sec. 3.  This Act takes effect immediately under AS 01.10.070(c).