Sec. 19.75.301. Insurance.
The authority shall keep in force public liability insurance in an amount reasonably calculated to cover potential claims for bodily injury, death or disability, and property damage that may arise from or be related to its operation and activities, naming the state as an additional insured.
Sec. 19.75.311. Safeguarding of money.
The authority shall maximize revenue from and deposit all money in depositories acceptable to the commissioner of revenue and otherwise safeguard the money under instructions as the commissioner of revenue may from time to time issue.
Sec. 19.75.321. Fidelity bond.
The authority shall obtain a fidelity bond in an amount determined by the board, for the members of the board and any official responsible for authority accounts and finances. A bond must be in effect for the tenure of the bonded person.
Sec. 19.75.021. Establishment of authority.
(a) There is established the Knik Arm Bridge and Toll Authority. The authority is a public corporation and an instrumentality of the state within the Department of Transportation and Public Facilities, but the authority has a separate and independent legal existence from the state. The exercise by the authority of the powers in this chapter […]
Sec. 19.75.031. Board of directors of authority.
(a) The authority shall be governed by a board of directors consisting of the following: (1) the commissioner of transportation and public facilities or the commissioner’s designee; (2) the commissioner of revenue or the commissioner’s designee; (3) one public member, appointed by the governor, who is a state resident and United States citizen; (4) one […]
Sec. 19.75.041. Operation of authority.
(a) The powers of the authority are vested in the board. (b) Three voting members of the board constitute a quorum. (c) The governor shall designate one member of the board to serve as the chair of the board. The voting members of the board shall elect other officers they determine desirable. (d) Action may […]
Sec. 19.75.051. Executive director.
The authority shall employ an executive director who may not be a member of the board. The executive director shall serve at the pleasure of the board. The board shall establish the duties and compensation of the executive director.
Sec. 19.75.061. Employment of personnel.
The executive director may hire employees of the authority. The board shall prescribe the duties and compensation of authority employees.
Sec. 19.75.071. Personnel exempt from State Personnel Act.
The executive director and employees of the authority are in the exempt service under AS 39.25 (State Personnel Act).
Sec. 19.75.076. Application of the Executive Budget Act.
The operating budget of the authority is subject to AS 37.07 (Executive Budget Act).