Sec. 29.35.815. Municipal property.
(a) A municipality may transfer and otherwise convey or lease real property and improvements to real property to an authority for use by the authority for the purposes set out in the ordinance adopted under AS 29.35.805. (b) A municipality may transfer and otherwise assign or lease personal property to an authority for use by […]
Sec. 29.35.820. Powers and duties.
(a) If provided in the enabling ordinance, an authority may (1) sue and be sued; (2) have a seal and alter it; (3) acquire an interest in a project as necessary or appropriate to provide financing for the project, whether by purchase, gift, or lease; (4) lease to others a project acquired by the authority […]
Sec. 29.35.825. Bonds of a regional solid waste management authority; superior court jurisdiction.
(a) If authorized by the enabling ordinance, an authority may borrow money and issue bonds on which the principal and interest are payable (1) exclusively from the income and receipts of, or other money derived from, the project financed with the proceeds of the bonds; (2) exclusively from the income and receipts of, or other […]
Sec. 29.35.830. Bonds eligible for investment.
Bonds issued under AS 29.35.825 are securities in which public officers and public bodies of the state and its political subdivisions, insurance companies, trust companies, banks, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. The bonds may be deposited with […]
Sec. 29.35.835. Validity of pledge.
The pledge of revenue of an authority to the payment of the principal of or interest on bonds or notes of the authority is valid and binding from the time the pledge is made, and the revenue is immediately subject to the lien of the pledge without physical delivery or further act. The lien of […]
Sec. 29.35.840. Credit of state or a municipality not pledged.
(a) The state and municipalities participating in an authority are not liable for the debts of that authority. Bonds issued under AS 29.35.825 are payable solely from the revenue of the authority and do not constitute a (1) debt, liability, or obligation of the state or a municipality; or (2) pledge of the faith and […]
Sec. 29.35.845. Pledges of the state and municipalities.
The state and municipalities participating in an authority pledge to and agree with the holders of bonds issued under AS 29.35.825 and with the federal agency, if any, that loans or contributes funds for a project of the authority that the state and the municipalities participating in the authority will not limit or alter the […]
Sec. 29.35.850. Limitation of liability.
A liability incurred by an authority shall be satisfied exclusively from the assets or revenue of the authority. A creditor or other person does not have a right of action against the state or a municipality participating in an authority because of a debt, obligation, or liability of an authority.
Sec. 29.35.855. Limitation on personal liability.
A board member or employee of an authority is not subject to personal liability or accountability because of the execution or issuance of bonds.
Sec. 29.35.720. Conflicting laws inapplicable.
If provisions of AS 29.35.600 – 29.35.730 conflict with other provisions of this title, the provisions of AS 29.35.600 – 29.35.730 prevail.