AK HB426

Authorizes the state bond committee to issue $75,750,000 in certificates of participation to finance construction, acquisition, and equipping of the Alaska Scientific Crime Detection Laboratory in Anchorage.

Authorizes the Department of Public Safety to enter into a lease-purchase agreement for the facility, subject to annual appropriation by the legislature.

Estimates annual rental obligations at $5,600,000 with total lease payments of $112,000,000 for the full term of the agreement.

Provides that upon payment of all principal and interest on the certificates of participation, title to the facility shall vest in the State of Alaska.

Takes effect immediately.