Kelly's HB 184 Signed Into Law
Kelly's HB 184 reflects today’s construction prices
Monday, June 21, 2010, Fairbanks, Alaska – Representative Mike Kelly, R-Fairbanks, today released the following statement regarding the enactment of House Bill 184. The governor signed the bill late this morning in Fairbanks. HB 184 increases the University of Alaska’s annual debt authorization to reflect the increase in construction prices since 1990, when the current limit was set. HB 184 raises the bond debt service cap from $1 million to $2.5 million.
“HB 184 paves the way for the University to issue $20 million in revenue bonds to provide some ‘skin in the game’ for projects such as the long-awaited Life Sciences Building on the UAF campus. We have fought long and hard to get to this tipping point where the new Life Sciences Building and $8 million to start the new engineering building have us poised for hard hats, concrete and rebar.”