An Act authorizing the Alaska Railroad Corporation to issue revenue bonds to finance the replacement of the Alaska Railroad Corporation's passenger dock and related terminal facility in Seward, Alaska; and providing for an effective date.

This bill would allow the Alaska Railroad Corporation to issue up to $135 million in revenue bonds to fund the construction of a new passenger dock and terminal in Seward. The new facility is required to be capable of handling vessels from the Alaska Marine Highway System, and the funds can be used to cover related costs such as debt service and interest. Repayment for the bonds would come specifically from the revenue generated by the dock, without pledging the general credit of the railroad or the state. Although the legislation was passed by the legislature, it was vetoed by the Governor.