AK SB218

Authorizes the Alaska Railroad Corporation to issue revenue bonds under AS 42.40.250 to finance replacement of the passenger dock and related terminal facility in Seward, Alaska, with a maximum principal amount of $60,000,000.

Bonds may be issued in single or multiple issuances at the corporation's discretion and shall be repaid from dock revenue or other available funds.

The general credit of the Alaska Railroad Corporation and the state may not be pledged for bond repayment.

Authorization extends to refunding bonds, with principal amounts of refunding bonds allowed to increase by an amount equal to refunding costs.

The act takes effect immediately upon enactment.