- Associated Press - Thursday, May 7, 2015

JUNEAU, Alaska (AP) - Legislation authorizing the Alaska Railroad Corp. to issue up to $37 million in bonds to help pay for a federally mandated safety system has been signed into law by Gov. Bill Walker.

The Legislature, in the past, provided funding for the project, but the bill, from Rep. Steve Thompson, was aimed at finding another way to finance the work, given the state’s financial woes.

The bonds are to be repaid using federal funds allocated to the railroad by the Federal Transit Administration or other money available to the railroad.

Walker signed the bill this week.

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